Strengthening Families & Communities LLC Acquires 1,519 Shares of Southern Copper Corporation (NYSE:SCCO)

Strengthening Families & Communities LLC grew its holdings in Southern Copper Corporation (NYSE:SCCO) by 5.7% during the 1st quarter, Holdings Channel reports. The fund owned 28,079 shares of the basic materials company’s stock after buying an additional 1,519 shares during the period. Southern Copper comprises 1.6% of Strengthening Families & Communities LLC’s portfolio, making the stock its 19th biggest holding. Strengthening Families & Communities LLC’s holdings in Southern Copper were worth $2,641,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in SCCO. Geode Capital Management LLC raised its position in Southern Copper by 4.6% in the fourth quarter. Geode Capital Management LLC now owns 641,765 shares of the basic materials company’s stock worth $58,180,000 after acquiring an additional 28,479 shares during the period. Envestnet Asset Management Inc. raised its position in shares of Southern Copper by 2.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 27,948 shares of the basic materials company’s stock valued at $2,547,000 after purchasing an additional 745 shares during the period. Cerity Partners LLC raised its position in shares of Southern Copper by 17.3% during the 4th quarter. Cerity Partners LLC now owns 15,858 shares of the basic materials company’s stock valued at $1,445,000 after purchasing an additional 2,342 shares during the period. Renaissance Technologies LLC raised its position in shares of Southern Copper by 1,417.7% during the 4th quarter. Renaissance Technologies LLC now owns 407,912 shares of the basic materials company’s stock valued at $37,173,000 after purchasing an additional 381,035 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of Southern Copper during the 4th quarter valued at $8,420,000. 7.94% of the stock is currently owned by institutional investors.

Southern Copper Stock Performance

Shares of NYSE SCCO opened at $100.09 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 4.51 and a current ratio of 5.27. The company has a market cap of $79.69 billion, a P/E ratio of 21.90, a P/E/G ratio of 1.44 and a beta of 1.00. The firm’s fifty day moving average is $97.78 and its two-hundred day moving average is $93.75. Southern Copper Corporation has a 52-week low of $74.84 and a 52-week high of $121.44.

Southern Copper Increases Dividend

The firm also recently announced a — dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 15th will be issued a $1.01 dividend. This is a boost from Southern Copper’s previous — dividend of $0.62. The ex-dividend date is Friday, August 15th. This represents a dividend yield of 270.0%. Southern Copper’s payout ratio is presently 61.27%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SCCO. Wall Street Zen downgraded shares of Southern Copper from a “buy” rating to a “hold” rating in a research report on Tuesday, May 20th. UBS Group downgraded shares of Southern Copper from a “buy” rating to a “neutral” rating and set a $105.00 price objective on the stock. in a research report on Tuesday, July 1st. Itau BBA Securities upgraded shares of Southern Copper from an “underperform” rating to a “market perform” rating in a research report on Wednesday, June 11th. Morgan Stanley restated an “underweight” rating and set a $99.00 price objective (up from $86.00) on shares of Southern Copper in a research report on Tuesday, July 15th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Southern Copper from $83.50 to $79.00 and set a “neutral” rating on the stock in a report on Thursday, July 3rd. Three equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat, Southern Copper currently has an average rating of “Hold” and a consensus price target of $91.00.

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.