MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Purchases 123,532 Shares of Southern Copper Corporation $SCCO

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Southern Copper Corporation (NYSE:SCCO) by 12.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,091,632 shares of the basic materials company’s stock after purchasing an additional 123,532 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.13% of Southern Copper worth $132,479,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hopwood Financial Services Inc. bought a new stake in Southern Copper in the 3rd quarter valued at $25,000. MJT & Associates Financial Advisory Group Inc. boosted 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 valued at $26,000 after acquiring an additional 84 shares in the last quarter. United Community Bank acquired a new stake in shares of Southern Copper during the 3rd quarter valued at about $30,000. Caitlin John LLC bought a new stake in Southern Copper in the third quarter valued at about $30,000. Finally, Allworth Financial LP raised its position in Southern Copper by 65.1% in the second quarter. Allworth Financial LP now owns 383 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 151 shares in the last quarter. 7.94% of the stock is owned by institutional investors.

Insider Buying and Selling at Southern Copper

In other news, Director Lerdo De Tejada Leon Contreras sold 9,326 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $209.56, for a total value of $1,954,344.91. Following the completion of the sale, the director directly owned 605 shares in the company, valued at approximately $126,783.04. This trade represents a 93.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.07% of the company’s stock.

Southern Copper Stock Up 3.6%

NYSE SCCO opened at $177.05 on Tuesday. The stock’s 50 day simple moving average is $191.14 and its 200 day simple moving average is $150.15. Southern Copper Corporation has a one year low of $74.84 and a one year high of $223.88. The firm has a market cap of $143.80 billion, a PE ratio of 33.28, a price-to-earnings-growth ratio of 1.76 and a beta of 1.03. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.89 and a quick ratio of 3.40.

Southern Copper Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Tuesday, February 10th were issued a dividend of $1.00 per share. The ex-dividend date was Tuesday, February 10th. This is a boost from Southern Copper’s previous quarterly dividend of $0.90. This represents a $4.00 annualized dividend and a dividend yield of 2.3%. Southern Copper’s dividend payout ratio (DPR) is currently 75.19%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on SCCO shares. Zacks Research cut shares of Southern Copper from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 8th. Scotiabank reiterated an “underperform” rating on shares of Southern Copper in a research note on Tuesday, January 27th. Morgan Stanley restated an “underweight” rating and set a $154.69 target price on shares of Southern Copper in a research report on Friday, January 30th. Wells Fargo & Company set a $190.38 price target on Southern Copper and gave the company an “equal weight” rating in a research note on Thursday, January 29th. Finally, The Goldman Sachs Group reiterated a “sell” rating and issued a $127.91 price target on shares of Southern Copper in a research report on Wednesday, January 14th. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and eight have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $139.99.

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.