Southern Copper Corporation $SCCO Shares Purchased by Parsons Capital Management Inc. RI

Parsons Capital Management Inc. RI lifted its stake in Southern Copper Corporation (NYSE:SCCO) by 0.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 26,244 shares of the basic materials company’s stock after acquiring an additional 227 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Southern Copper were worth $2,655,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Generali Investments CEE investicni spolecnost a.s. lifted its holdings in shares of Southern Copper by 0.7% in the 1st quarter. Generali Investments CEE investicni spolecnost a.s. now owns 15,077 shares of the basic materials company’s stock worth $1,409,000 after acquiring an additional 108 shares during the last quarter. American Financial Advisors LLC increased its stake in Southern Copper by 1.1% during the 2nd quarter. American Financial Advisors LLC now owns 10,422 shares of the basic materials company’s stock worth $1,054,000 after buying an additional 112 shares during the period. IFM Investors Pty Ltd increased its stake in Southern Copper by 1.0% during the 2nd quarter. IFM Investors Pty Ltd now owns 12,725 shares of the basic materials company’s stock worth $1,287,000 after buying an additional 124 shares during the period. Zurich Insurance Group Ltd FI increased its stake in Southern Copper by 0.7% during the 1st quarter. Zurich Insurance Group Ltd FI now owns 17,331 shares of the basic materials company’s stock worth $1,620,000 after buying an additional 125 shares during the period. Finally, Balefire LLC increased its stake in Southern Copper by 3.0% during the 1st quarter. Balefire LLC now owns 4,779 shares of the basic materials company’s stock worth $447,000 after buying an additional 141 shares during the period. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Southern Copper Price Performance

Shares of SCCO opened at $125.41 on Friday. Southern Copper Corporation has a twelve month low of $74.84 and a twelve month high of $125.58. The firm’s fifty day simple moving average is $102.38 and its 200-day simple moving average is $96.77. The firm has a market capitalization of $100.84 billion, a price-to-earnings ratio of 27.44, a PEG ratio of 1.25 and a beta of 1.02. The company has a current ratio of 5.27, a quick ratio of 4.51 and a debt-to-equity ratio of 0.67.

Southern Copper Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Friday, August 15th were issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Friday, August 15th. This is a positive change from Southern Copper’s previous quarterly dividend of $0.62. Southern Copper’s dividend payout ratio (DPR) is 70.02%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on SCCO shares. Itau BBA Securities raised shares of Southern Copper from an “underperform” rating to a “market perform” rating in a research note on Wednesday, June 11th. UBS Group reaffirmed a “buy” rating on shares of Southern Copper in a research note on Friday, September 19th. The Goldman Sachs Group set a $89.00 target price on shares of Southern Copper and gave the stock a “sell” rating in a research note on Wednesday, September 17th. Morgan Stanley reaffirmed an “underweight” rating and set a $99.00 target price (up from $86.00) on shares of Southern Copper in a research note on Tuesday, July 15th. Finally, JPMorgan Chase & Co. upped their target price on shares of Southern Copper from $79.00 to $92.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 3rd. Four research analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Southern Copper has a consensus rating of “Reduce” and an average target price of $92.40.

Insider Buying and Selling at Southern Copper

In other news, Director Bonilla Luis Miguel Palomino sold 414 shares of the firm’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $100.00, for a total value of $41,400.00. Following the sale, the director directly owned 2,327 shares in the company, valued at approximately $232,700. This trade represents a 15.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders have sold 1,228 shares of company stock valued at $123,102. 0.07% of the stock is currently owned by company insiders.

Southern Copper Profile

Southern Copper Corporation engages in mining, exploring, smelting, and refining copper and other minerals in Peru, Mexico, Argentina, Ecuador, and Chile. The company is involved in the mining, milling, and flotation of copper ore to produce copper and molybdenum concentrates; smelting of copper concentrates to produce blister and anode copper; refining of anode copper to produce copper cathodes; production of molybdenum concentrate and sulfuric acid; production of refined silver, gold, and other materials; and mining and processing of zinc, copper, molybdenum, silver, gold, and lead.