Pacer Advisors Inc. Acquires 65,598 Shares of Southern Copper Corporation $SCCO

Pacer Advisors Inc. boosted its stake in Southern Copper Corporation (NYSE:SCCO) by 23.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 344,350 shares of the basic materials company’s stock after purchasing an additional 65,598 shares during the period. Pacer Advisors Inc.’s holdings in Southern Copper were worth $49,404,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of SCCO. Lloyd Advisory Services LLC. acquired a new position in Southern Copper during the 4th quarter worth about $29,000. Virtus Advisers LLC acquired a new stake in shares of Southern Copper in the fourth quarter valued at about $29,000. Caitlin John LLC bought a new position in shares of Southern Copper during the third quarter worth about $30,000. Godfrey Financial Associates Inc. bought a new position in shares of Southern Copper during the fourth quarter worth about $30,000. Finally, IFP Advisors Inc lifted its stake in shares of Southern Copper by 233.3% in the fourth quarter. IFP Advisors Inc now owns 230 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 161 shares during the period. 7.94% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SCCO has been the topic of several analyst reports. JPMorgan Chase & Co. upped their target price on Southern Copper from $127.00 to $131.50 and gave the company an “underweight” rating in a report on Wednesday. Scotiabank restated an “underperform” rating and set a $140.00 price target (up from $135.00) on shares of Southern Copper in a report on Monday. Bank of America downgraded shares of Southern Copper from a “neutral” rating to an “underperform” rating and boosted their price target for the stock from $162.00 to $175.00 in a research report on Thursday, February 26th. Wells Fargo & Company set a $171.00 price objective on shares of Southern Copper and gave the company an “equal weight” rating in a research note on Friday, May 1st. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Southern Copper in a research report on Friday, March 27th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and eight have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $145.94.

Insider Activity

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 200 shares of the stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $177.82, for a total transaction of $35,564.00. Following the transaction, the director directly owned 1,807 shares in the company, valued at approximately $321,320.74. This represents a 9.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders sold 404 shares of company stock worth $74,108. 0.07% of the stock is currently owned by corporate insiders.

Southern Copper Stock Up 0.0%

Shares of Southern Copper stock opened at $192.98 on Friday. Southern Copper Corporation has a one year low of $88.73 and a one year high of $223.88. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.38 and a quick ratio of 3.89. The stock’s 50-day moving average is $184.81 and its 200 day moving average is $177.41. The firm has a market cap of $159.41 billion, a price-to-earnings ratio of 31.90, a PEG ratio of 1.79 and a beta of 1.09.

Southern Copper Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Wednesday, May 13th were paid a $1.00 dividend. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $4.00 annualized dividend and a yield of 2.1%. Southern Copper’s payout ratio is 66.12%.

About Southern Copper

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.