Randolph Co Inc Grows Position in Southern Copper Corporation $SCCO

Randolph Co Inc grew its holdings in shares of Southern Copper Corporation (NYSE:SCCO) by 6.1% during the first quarter, HoldingsChannel reports. The institutional investor owned 215,284 shares of the basic materials company’s stock after buying an additional 12,414 shares during the period. Southern Copper accounts for 3.5% of Randolph Co Inc’s portfolio, making the stock its 13th largest position. Randolph Co Inc’s holdings in Southern Copper were worth $37,042,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in SCCO. Capital World Investors increased its position in shares of 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 during the period. Norges Bank purchased a new position in shares of Southern Copper in the 4th quarter valued at $97,645,000. Capital Research Global Investors bought a new position in shares of Southern Copper in the 4th quarter worth $81,039,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Southern Copper during the 4th quarter worth $46,560,000. Finally, USS Investment Management Ltd lifted its stake in shares of 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 during the last quarter. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Insider Transactions at Southern Copper

In related news, Director Bonilla Luis Miguel Palomino sold 200 shares of the firm’s stock in a transaction 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 sale, the director owned 1,807 shares in the company, valued at approximately $321,320.74. This trade represents a 9.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 404 shares of company stock worth $74,108 over the last quarter. Corporate insiders own 0.07% of the company’s stock.

Analyst Ratings Changes

SCCO has been the topic of several analyst reports. UBS Group reiterated a “sell” rating and issued a $160.00 target price (up from $145.00) on shares of Southern Copper in a research note on Tuesday. The Goldman Sachs Group raised shares of Southern Copper from a “sell” rating to a “neutral” rating and set a $178.00 price target for the company in a research report on Friday, April 10th. Scotiabank restated an “underperform” rating and issued a $140.00 price target (up from $135.00) on shares of Southern Copper in a report on Monday, June 15th. 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 report on Thursday, April 9th. Finally, Wells Fargo & Company set a $171.00 target price on Southern Copper and gave the company an “equal weight” rating in a research report on Friday, May 1st. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and eight have issued a Sell rating to the company. According to data from MarketBeat, Southern Copper has an average rating of “Reduce” and an average target price of $147.19.

Southern Copper Trading Down 3.2%

NYSE SCCO opened at $168.71 on Thursday. The company has a market capitalization of $139.36 billion, a PE ratio of 27.89, a P/E/G ratio of 1.57 and a beta of 1.12. The company has a fifty day moving average of $182.09 and a 200 day moving average of $179.68. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.38 and a quick ratio of 3.89. Southern Copper Corporation has a 1 year low of $88.73 and a 1 year high of $223.88.

Southern Copper Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Wednesday, May 13th were issued 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 2.4%. Southern Copper’s payout ratio is presently 66.12%.

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.