Perbak Capital Partners LLP Grows Stake in Southern Copper Corporation $SCCO

Perbak Capital Partners LLP increased its holdings in shares of Southern Copper Corporation (NYSE:SCCO) by 46.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,887 shares of the basic materials company’s stock after purchasing an additional 3,775 shares during the quarter. Perbak Capital Partners LLP’s holdings in Southern Copper were worth $1,443,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MJT & Associates Financial Advisory Group Inc. grew its holdings in Southern Copper by 65.1% in the third quarter. MJT & Associates Financial Advisory Group Inc. now owns 213 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 84 shares during the period. Covestor Ltd boosted its holdings in shares of Southern Copper by 30.4% in the 3rd quarter. Covestor Ltd now owns 360 shares of the basic materials company’s stock valued at $44,000 after purchasing an additional 84 shares during the last quarter. Avanza Fonder AB grew its stake in shares of Southern Copper by 1.0% during the 3rd quarter. Avanza Fonder AB now owns 8,663 shares of the basic materials company’s stock valued at $1,051,000 after buying an additional 86 shares during the period. Redwood Wealth Management Group LLC increased its holdings in shares of Southern Copper by 1.5% during the 3rd quarter. Redwood Wealth Management Group LLC now owns 5,999 shares of the basic materials company’s stock worth $728,000 after buying an additional 89 shares during the last quarter. Finally, Powell Investment Advisors LLC increased its holdings in shares of Southern Copper by 1.0% during the 3rd quarter. Powell Investment Advisors LLC now owns 9,637 shares of the basic materials company’s stock worth $1,170,000 after buying an additional 96 shares during the last quarter. 7.94% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SCCO has been the topic of a number of research analyst reports. Bank of America cut Southern Copper from a “neutral” rating to an “underperform” rating and lifted their target price for the company from $162.00 to $175.00 in a report on Thursday, February 26th. Morgan Stanley restated an “underweight” rating and issued a $154.69 price objective on shares of Southern Copper in a report on Friday, January 30th. Scotiabank reiterated an “underperform” rating on shares of Southern Copper in a report on Tuesday, January 27th. UBS Group reissued a “sell” rating and set a $148.74 target price (up from $146.75) on shares of Southern Copper in a research report on Tuesday, February 3rd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Southern Copper in a report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and eight have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $139.99.

Insiders Place Their Bets

In other news, Director Lerdo De Tejada Leon Contreras sold 9,326 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $126,783.04. This represents a 93.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.07% of the stock is currently owned by corporate insiders.

Southern Copper Stock Performance

Southern Copper stock opened at $171.05 on Friday. Southern Copper Corporation has a 52 week low of $74.84 and a 52 week high of $223.88. The company has a current ratio of 3.89, a quick ratio of 3.40 and a debt-to-equity ratio of 0.61. The stock has a market cap of $138.92 billion, a P/E ratio of 32.15, a price-to-earnings-growth ratio of 1.86 and a beta of 1.03. The stock has a 50 day moving average of $190.66 and a 200-day moving average of $148.84.

Southern Copper Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Tuesday, February 10th were paid a dividend of $1.00 per share. This is a positive change from Southern Copper’s previous quarterly dividend of $0.90. The ex-dividend date was Tuesday, February 10th. This represents a $4.00 dividend on an annualized basis and a yield of 2.3%. 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.