Southern Copper Corporation $SCCO Shares Bought by Regal Partners Ltd

Regal Partners Ltd lifted its position in shares of Southern Copper Corporation (NYSE:SCCO) by 39.4% in the 3rd quarter, Holdings Channel reports. The fund owned 62,463 shares of the basic materials company’s stock after buying an additional 17,654 shares during the period. Southern Copper comprises 0.5% of Regal Partners Ltd’s investment portfolio, making the stock its 25th biggest holding. Regal Partners Ltd’s holdings in Southern Copper were worth $7,581,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Rakuten Investment Management Inc. acquired a new stake in shares of Southern Copper in the third quarter valued at approximately $2,976,000. Legal & General Group Plc raised its holdings in shares of Southern Copper by 4.3% during the second quarter. Legal & General Group Plc now owns 941,712 shares of the basic materials company’s stock valued at $95,273,000 after buying an additional 38,856 shares during the last quarter. Nordea Investment Management AB boosted its position in shares of Southern Copper by 5.7% during the third quarter. Nordea Investment Management AB now owns 148,484 shares of the basic materials company’s stock worth $17,778,000 after buying an additional 7,995 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Southern Copper by 2,631.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,441 shares of the basic materials company’s stock worth $1,631,000 after buying an additional 12,949 shares in the last quarter. Finally, Alps Advisors Inc. grew its holdings in Southern Copper by 54.2% in the 3rd quarter. Alps Advisors Inc. now owns 35,647 shares of the basic materials company’s stock worth $4,326,000 after buying an additional 12,532 shares in the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Insider Buying and Selling at Southern Copper

In related news, Director Lerdo De Tejada Leon Contreras sold 9,326 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $209.56, for a total transaction of $1,954,344.91. Following the completion of the transaction, the director owned 605 shares of the company’s stock, valued at $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 the SEC website. 0.07% of the stock is currently owned by company insiders.

Southern Copper Stock Performance

SCCO opened at $184.64 on Friday. The business has a 50 day moving average price of $186.46 and a two-hundred day moving average price of $146.02. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.89 and a quick ratio of 3.91. The company has a market capitalization of $149.96 billion, a price-to-earnings ratio of 34.71, a price-to-earnings-growth ratio of 1.91 and a beta of 1.03. Southern Copper Corporation has a 1-year low of $74.84 and a 1-year high of $223.88.

Southern Copper Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Tuesday, February 10th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.2%. This is a positive change from Southern Copper’s previous quarterly dividend of $0.90. The ex-dividend date was Tuesday, February 10th. Southern Copper’s payout ratio is currently 75.19%.

Analysts Set New Price Targets

Several research firms recently commented on SCCO. Morgan Stanley restated an “underweight” rating and issued a $154.69 target price on shares of Southern Copper in a research report on Friday, January 30th. Zacks Research cut Southern Copper from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 8th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $116.51 price target (down from $118.49) on shares of Southern Copper in a report on Friday, January 23rd. The Goldman Sachs Group restated a “sell” rating and set a $127.91 price objective on shares of Southern Copper in a research note on Wednesday, January 14th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Southern Copper in a report on Monday, December 29th. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and eight have issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus 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.