Prime Capital Investment Advisors LLC Purchases 595 Shares of Southern Copper Corporation $SCCO

Prime Capital Investment Advisors LLC increased its position in Southern Copper Corporation (NYSE:SCCO) by 10.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,216 shares of the basic materials company’s stock after buying an additional 595 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Southern Copper were worth $629,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Teacher Retirement System of Texas bought a new stake in Southern Copper in the 1st quarter worth approximately $2,637,000. Golden State Wealth Management LLC purchased a new position in Southern Copper in the 1st quarter worth approximately $29,000. Oppenheimer & Co. Inc. purchased a new position in Southern Copper in the 1st quarter worth approximately $337,000. GAMMA Investing LLC increased its stake in Southern Copper by 35.2% in the 1st quarter. GAMMA Investing LLC now owns 906 shares of the basic materials company’s stock worth $85,000 after purchasing an additional 236 shares during the period. Finally, Novem Group increased its stake in Southern Copper by 34.4% in the 1st quarter. Novem Group now owns 10,758 shares of the basic materials company’s stock worth $1,005,000 after purchasing an additional 2,754 shares during the period. Institutional investors own 7.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on SCCO shares. Wells Fargo & Company set a $121.00 price target on Southern Copper and gave the stock an “equal weight” rating in a research note on Tuesday. The Goldman Sachs Group set a $89.00 price target on Southern Copper and gave the stock a “sell” rating in a research note on Wednesday, September 17th. JPMorgan Chase & Co. lifted their price target on Southern Copper from $79.00 to $92.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 3rd. Morgan Stanley set a $132.00 price target on Southern Copper and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, Jefferies Financial Group set a $155.00 target price on Southern Copper and gave the company a “buy” rating in a research note on Monday. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $109.88.

Insider Activity

In related news, Director Bonilla Luis Miguel Palomino sold 414 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $100.00, for a total transaction of $41,400.00. Following the completion of the sale, the director owned 2,327 shares in the company, valued at approximately $232,700. This trade represents a 15.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 1,228 shares of company stock worth $123,102 in the last three months. Company insiders own 0.07% of the company’s stock.

Southern Copper Stock Down 1.5%

Southern Copper stock opened at $130.59 on Friday. The stock has a market cap of $105.00 billion, a PE ratio of 28.58, a price-to-earnings-growth ratio of 1.35 and a beta of 1.02. The company has a debt-to-equity ratio of 0.67, a quick ratio of 4.51 and a current ratio of 5.27. Southern Copper Corporation has a one year low of $74.84 and a one year high of $136.50. The stock has a fifty day moving average of $105.82 and a 200 day moving average of $97.80.

Southern Copper Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Friday, August 15th were given a dividend of $1.01 per share. This is an increase from Southern Copper’s previous quarterly dividend of $0.62. This represents a $4.04 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Friday, August 15th. Southern Copper’s dividend payout ratio (DPR) is 70.02%.

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.