Element Capital Management LLC Makes New $2.01 Million Investment in Southern Copper Corporation $SCCO

Element Capital Management LLC bought a new stake in Southern Copper Corporation (NYSE:SCCO) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 14,022 shares of the basic materials company’s stock, valued at approximately $2,012,000. Southern Copper accounts for about 1.0% of Element Capital Management LLC’s holdings, making the stock its 25th largest position.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Engineers Gate Manager LP acquired a new stake in Southern Copper in the fourth quarter worth about $2,443,000. Asset One Wealth Management LLC bought a new position in shares of Southern Copper in the 4th quarter valued at about $200,000. Boothbay Fund Management LLC grew its position in shares of Southern Copper by 34.6% during the 4th quarter. Boothbay Fund Management LLC now owns 6,472 shares of the basic materials company’s stock worth $929,000 after buying an additional 1,662 shares during the period. Caisse de depot et placement du Quebec grew its position in shares of Southern Copper by 192.8% during the 4th quarter. Caisse de depot et placement du Quebec now owns 131,036 shares of the basic materials company’s stock worth $18,800,000 after buying an additional 86,284 shares during the period. Finally, Schonfeld Strategic Advisors LLC raised its stake in shares of Southern Copper by 230.7% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 13,193 shares of the basic materials company’s stock worth $1,893,000 after buying an additional 9,203 shares during the last quarter. Institutional investors own 7.94% of the company’s stock.

Southern Copper Stock Performance

Shares of SCCO stock opened at $191.52 on Thursday. The company has a market capitalization of $156.88 billion, a P/E ratio of 31.66, a price-to-earnings-growth ratio of 1.83 and a beta of 1.09. Southern Copper Corporation has a 52 week low of $88.73 and a 52 week high of $223.88. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.89 and a current ratio of 4.38. The company’s 50 day moving average price is $184.31 and its two-hundred day moving average price is $176.88.

Southern Copper Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors 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 dividend on an annualized basis and a yield of 2.1%. Southern Copper’s dividend payout ratio is presently 66.12%.

Analysts Set New Price Targets

SCCO has been the topic of a number of analyst reports. Scotiabank reissued an “underperform” rating and issued a $140.00 price target (up from $135.00) on shares of Southern Copper in a research note on Monday. Weiss Ratings restated a “buy (b)” rating on shares of Southern Copper in a research report on Friday, March 27th. UBS Group increased their price target on shares of Southern Copper from $140.00 to $145.00 and gave the company a “sell” rating in a research report on Thursday, May 21st. Morgan Stanley lifted their price objective on shares of Southern Copper from $155.00 to $160.00 and gave the stock an “underweight” rating in a research note on Thursday, April 9th. Finally, Wall Street Zen cut shares of Southern Copper from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and eight have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $145.94.

Insider Transactions at Southern Copper

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 200 shares of the stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $177.82, for a total transaction of $35,564.00. Following the completion of the transaction, the director 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 document filed with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders sold 404 shares of company stock worth $74,108. 0.07% of the stock is currently owned by corporate insiders.

Southern Copper 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.