Capital World Investors Has $781.27 Million Holdings in Southern Copper Corporation $SCCO

Capital World Investors grew its stake in Southern Copper Corporation (NYSE:SCCO) by 36.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,437,608 shares of the basic materials company’s stock after acquiring an additional 1,708,693 shares during the quarter. Capital World Investors’ holdings in Southern Copper were worth $781,268,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Hopwood Financial Services Inc. acquired a new stake in Southern Copper during the 3rd quarter worth approximately $25,000. MJT & Associates Financial Advisory Group Inc. increased its position in shares of Southern Copper by 65.1% during the 3rd quarter. MJT & Associates Financial Advisory Group Inc. now owns 213 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 84 shares during the last quarter. Caitlin John LLC bought a new stake in shares of Southern Copper during the 3rd quarter worth approximately $30,000. United Community Bank bought a new stake in shares of Southern Copper during the 3rd quarter worth approximately $30,000. Finally, Tobam acquired a new stake in shares of Southern Copper in the 2nd quarter valued at approximately $29,000. Institutional investors own 7.94% of the company’s stock.

Insider Activity

In related news, Director Lerdo De Tejada Leon Contreras sold 9,326 shares of the business’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $209.56, for a total value of $1,954,344.91. Following the sale, the director owned 605 shares of the company’s stock, valued at $126,783.04. The trade was a 93.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.07% of the company’s stock.

Analysts Set New Price Targets

SCCO has been the topic of a number of recent analyst reports. Bank of America downgraded shares of Southern Copper from a “neutral” rating to an “underperform” rating and boosted their target price for the stock from $162.00 to $175.00 in a report on Thursday, February 26th. Weiss Ratings reissued a “buy (b)” rating on shares of Southern Copper in a research report on Monday, December 29th. JPMorgan Chase & Co. restated an “underweight” rating and set a $116.51 price objective (down from $118.49) on shares of Southern Copper in a research note on Friday, January 23rd. UBS Group reiterated a “sell” rating and issued a $148.74 target price (up from $146.75) on shares of Southern Copper in a research note on Tuesday, February 3rd. Finally, Morgan Stanley reiterated an “underweight” rating and set a $154.69 price target on shares of Southern Copper in a report on Friday, January 30th. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and eight have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $139.99.

Southern Copper Price Performance

Shares of NYSE:SCCO opened at $195.91 on Wednesday. The firm has a 50 day moving average of $188.43 and a 200-day moving average of $147.78. The company has a current ratio of 3.89, a quick ratio of 3.40 and a debt-to-equity ratio of 0.61. Southern Copper Corporation has a 12 month low of $74.84 and a 12 month high of $223.88. The stock has a market capitalization of $159.11 billion, a PE ratio of 36.82, a PEG ratio of 1.97 and a beta of 1.03.

Southern Copper Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Tuesday, February 10th were paid a $1.00 dividend. This is an increase from Southern Copper’s previous quarterly dividend of $0.90. This represents a $4.00 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Tuesday, February 10th. Southern Copper’s payout ratio is currently 75.19%.

Southern Copper Company Profile

Southern Copper Corporation (NYSE: SCCO) is a large, integrated copper producer whose operations span the full value chain from exploration and mining to smelting, refining and the sale of copper and other metal products. The company produces a range of copper products including copper concentrate and refined cathodes, and recovers valuable byproducts such as molybdenum, silver and zinc. Southern Copper concentrates on high-volume, long-life assets designed to support steady production and processing capabilities.

Southern Copper’s operations are concentrated in Peru and Mexico, where it owns and operates multiple large-scale mining and processing facilities.