22,689 Shares in Southern Copper Corporation $SCCO Acquired by Capula Management Ltd

Capula Management Ltd bought a new position in Southern Copper Corporation (NYSE:SCCO) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 22,689 shares of the basic materials company’s stock, valued at approximately $2,754,000.

Several other large investors have also recently bought and sold shares of the company. Capital World Investors grew its position in shares of Southern Copper by 36.1% during the 3rd quarter. Capital World Investors now owns 6,437,608 shares of the basic materials company’s stock valued at $781,268,000 after purchasing an additional 1,708,693 shares in the last quarter. Norges Bank bought a new position in shares of Southern Copper in the second quarter worth $57,901,000. HRT Financial LP purchased a new stake in shares of Southern Copper in the second quarter worth $29,771,000. Man Group plc raised its position in shares of Southern Copper by 65.4% in the second quarter. Man Group plc now owns 467,119 shares of the basic materials company’s stock worth $47,258,000 after buying an additional 184,641 shares in the last quarter. Finally, Schroder Investment Management Group boosted its stake in Southern Copper by 54.6% during the third quarter. Schroder Investment Management Group now owns 505,284 shares of the basic materials company’s stock valued at $61,321,000 after buying an additional 178,350 shares during the period. 7.94% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SCCO. Itau BBA Securities cut Southern Copper from a “market perform” rating to an “underperform” rating and set a $124.94 target price for the company. in a research report on Monday, December 22nd. Citigroup reaffirmed a “sell” rating on shares of Southern Copper in a report on Monday, January 12th. Wells Fargo & Company set a $190.38 price target on Southern Copper and gave the company an “equal weight” rating in a research report on Thursday, January 29th. Bank of America lowered Southern Copper from a “neutral” rating to an “underperform” rating and boosted their price objective for the stock from $162.00 to $175.00 in a report on Thursday, February 26th. Finally, Scotiabank reaffirmed an “underperform” rating on shares of Southern Copper in a research note on Tuesday, January 27th. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and eight have issued a Sell rating to the stock. According to MarketBeat.com, Southern Copper presently has an average rating of “Reduce” and a consensus price target of $139.99.

Southern Copper Stock Down 5.3%

SCCO opened at $171.05 on Friday. The stock has a market cap of $138.92 billion, a PE ratio of 32.15, a P/E/G ratio of 1.76 and a beta of 1.03. The company has a quick ratio of 3.40, a current ratio of 3.89 and a debt-to-equity ratio of 0.61. Southern Copper Corporation has a 52 week low of $74.84 and a 52 week high of $223.88. The business’s fifty day simple moving average is $190.66 and its 200 day simple moving average is $149.20.

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 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Tuesday, February 10th. This is an increase from Southern Copper’s previous quarterly dividend of $0.90. Southern Copper’s dividend payout ratio (DPR) is currently 75.19%.

Insider Activity at Southern Copper

In other news, Director Lerdo De Tejada Leon Contreras sold 9,326 shares of the 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 transaction, the director directly owned 605 shares in the company, valued at approximately $126,783.04. This represents a 93.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.07% of the company’s stock.

Southern Copper Company 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.