Bollard Group LLC Acquires 56,607 Shares of Southern Copper Corporation $SCCO

Bollard Group LLC grew its holdings in shares of Southern Copper Corporation (NYSE:SCCO) by 6.8% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 890,951 shares of the basic materials company’s stock after buying an additional 56,607 shares during the period. Southern Copper makes up 2.5% of Bollard Group LLC’s investment portfolio, making the stock its 8th largest holding. Bollard Group LLC’s holdings in Southern Copper were worth $108,126,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of SCCO. Capital World Investors boosted its stake in Southern Copper by 36.1% during the third quarter. Capital World Investors now owns 6,437,608 shares of the basic materials company’s stock worth $781,268,000 after acquiring an additional 1,708,693 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Southern Copper by 10.8% during the second quarter. JPMorgan Chase & Co. now owns 1,719,883 shares of the basic materials company’s stock valued at $174,002,000 after purchasing an additional 168,005 shares during the period. Empower Advisory Group LLC boosted its position in shares of Southern Copper by 8.4% during the 2nd quarter. Empower Advisory Group LLC now owns 979,877 shares of the basic materials company’s stock worth $99,134,000 after purchasing an additional 75,653 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Southern Copper by 1.5% in the 3rd quarter. Legal & General Group Plc now owns 955,924 shares of the basic materials company’s stock valued at $116,012,000 after buying an additional 14,212 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of Southern Copper by 11.2% in the 3rd quarter. Vanguard Group Inc. now owns 950,018 shares of the basic materials company’s stock valued at $115,294,000 after buying an additional 96,013 shares during the period. Institutional investors own 7.94% of the company’s stock.

Southern Copper Price Performance

Shares of NYSE SCCO opened at $171.05 on Friday. The stock has a market cap of $138.92 billion, a price-to-earnings ratio of 32.15, a PEG ratio of 1.76 and a beta of 1.03. The company has a debt-to-equity ratio of 0.61, a quick ratio of 3.40 and a current ratio of 3.89. Southern Copper Corporation has a fifty-two week low of $74.84 and a fifty-two week high of $223.88. The firm’s 50-day simple moving average is $190.66 and its 200 day simple moving average is $149.20.

Southern Copper Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Tuesday, February 10th were issued a $1.00 dividend. This is a boost from Southern Copper’s previous quarterly dividend of $0.90. 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. Southern Copper’s dividend payout ratio is 75.19%.

Insider Buying and Selling at Southern Copper

In related news, Director Lerdo De Tejada Leon Contreras sold 9,326 shares of Southern Copper stock in a transaction that occurred on 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 owned 605 shares of the company’s stock, valued at $126,783.04. The trade was a 93.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.07% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SCCO. Morgan Stanley reaffirmed an “underweight” rating and set a $154.69 price target on shares of Southern Copper in a research note on Friday, January 30th. Wall Street Zen downgraded Southern Copper from a “buy” rating to a “hold” rating in a report on Sunday, March 1st. Scotiabank reaffirmed an “underperform” rating on shares of Southern Copper in a research report on Tuesday, January 27th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $116.51 target price (down from $118.49) on shares of Southern Copper in a report on Friday, January 23rd. Finally, Itau BBA Securities downgraded shares of Southern Copper from a “market perform” rating to an “underperform” rating and set a $124.94 price target for the company. in a research report on Monday, December 22nd. Two equities research 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.com, the stock has a consensus rating of “Reduce” and an average price target of $139.99.

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.