104,404 Shares in Southern Copper Corporation $SCCO Bought by SEB Asset Management AB

SEB Asset Management AB purchased a new stake in shares of Southern Copper Corporation (NYSE:SCCO) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 104,404 shares of the basic materials company’s stock, valued at approximately $17,964,000.

A number of other large investors have also recently made changes to their positions in SCCO. Norges Bank acquired a new position in shares of Southern Copper during the fourth quarter valued at about $97,645,000. Capital Research Global Investors bought a new position in Southern Copper in the 4th quarter valued at about $81,039,000. Arrowstreet Capital Limited Partnership acquired a new position in Southern Copper during the 4th quarter valued at about $46,560,000. USS Investment Management Ltd increased its holdings in Southern Copper by 904.8% during the 4th quarter. USS Investment Management Ltd now owns 301,655 shares of the basic materials company’s stock worth $43,272,000 after purchasing an additional 271,634 shares in the last quarter. Finally, Lord Abbett & CO. LLC bought a new stake in Southern Copper during the 4th quarter worth approximately $35,095,000. 7.94% of the stock is owned by institutional investors.

Southern Copper Price Performance

Shares of NYSE:SCCO opened at $175.20 on Tuesday. The company’s 50-day moving average is $180.83 and its 200 day moving average is $182.47. 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 has a market capitalization of $144.73 billion, a P/E ratio of 28.96, a price-to-earnings-growth ratio of 1.47 and a beta of 1.11. Southern Copper Corporation has a fifty-two week low of $88.73 and a fifty-two week high of $223.88.

Southern Copper’s stock is going to split on the morning of Tuesday, August 11th. The 1.012-1 split was recently announced. The newly minted shares will be payable to shareholders after the closing bell on Monday, August 10th.

Southern Copper Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Tuesday, August 11th will be paid a $1.10 dividend. The ex-dividend date is Tuesday, August 11th. This is a positive change from Southern Copper’s previous quarterly dividend of $1.00. This represents a $4.40 dividend on an annualized basis and a yield of 2.5%. Southern Copper’s dividend payout ratio is presently 66.12%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SCCO. Wall Street Zen upgraded Southern Copper from a “hold” rating to a “buy” rating in a report on Saturday, June 27th. Scotiabank reissued an “underperform” rating and issued a $140.00 price target (up from $135.00) on shares of Southern Copper in a research report on Monday, June 15th. UBS Group reissued a “sell” rating and issued a $160.00 price target (up from $145.00) on shares of Southern Copper in a research report on Tuesday, June 30th. Zacks Research raised shares of Southern Copper from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 9th. Finally, Barclays reaffirmed an “underweight” rating and set a $160.00 price objective (up from $148.00) on shares of Southern Copper in a report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have issued a Hold rating and seven have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $148.10.

Insider Buying and Selling at Southern Copper

In other news, Director Bonilla Luis Miguel Palomino sold 200 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $177.82, for a total transaction of $35,564.00. Following the completion of the sale, the director owned 1,807 shares in the company, valued at $321,320.74. This trade represents a 9.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last ninety days, insiders have sold 404 shares of company stock worth $74,108. 0.07% of the stock is 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.