Sanctuary Advisors LLC Increases Holdings in Southern Copper Corporation $SCCO

Sanctuary Advisors LLC increased its position in Southern Copper Corporation (NYSE:SCCO) by 36.7% during the 1st quarter, Holdings Channel reports. The firm owned 16,821 shares of the basic materials company’s stock after acquiring an additional 4,517 shares during the quarter. Sanctuary Advisors LLC’s holdings in Southern Copper were worth $2,894,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SCCO. Sigma Planning Corp raised its position in Southern Copper by 383.2% during the 1st quarter. Sigma Planning Corp now owns 11,026 shares of the basic materials company’s stock valued at $1,897,000 after purchasing an additional 8,744 shares in the last quarter. Checchi Capital Advisers LLC grew its position in shares of Southern Copper by 1.8% during the 1st quarter. Checchi Capital Advisers LLC now owns 5,017 shares of the basic materials company’s stock worth $863,000 after buying an additional 90 shares in the last quarter. Calamos Wealth Management LLC bought a new position in shares of Southern Copper during the 1st quarter worth $2,308,000. Principal Financial Group Inc. grew its position in shares of Southern Copper by 4.5% during the 1st quarter. Principal Financial Group Inc. now owns 10,203 shares of the basic materials company’s stock worth $1,756,000 after buying an additional 435 shares in the last quarter. Finally, Diversify Wealth Management LLC purchased a new position in shares of Southern Copper during the first quarter valued at $2,713,000. 7.94% of the stock is currently owned by hedge funds and other institutional investors.

Southern Copper Price Performance

Shares of SCCO stock opened at $175.20 on Tuesday. Southern Copper Corporation has a 1-year low of $88.73 and a 1-year high of $223.88. The stock’s 50-day moving average is $180.83 and its 200 day moving average is $182.47. The company has a market cap of $144.73 billion, a P/E ratio of 28.96, a PEG ratio of 1.47 and a beta of 1.11. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.38 and a quick ratio of 3.89.

Shares of Southern Copper are going to split on the morning of Tuesday, August 11th. The 1.012-1 split was recently announced. The newly issued shares will be issued to shareholders after the closing bell on Monday, August 10th.

Southern Copper Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Tuesday, August 11th will be issued a $1.10 dividend. The ex-dividend date is Tuesday, August 11th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.5%. This is an increase from Southern Copper’s previous quarterly dividend of $1.00. Southern Copper’s dividend payout ratio (DPR) is 66.12%.

Insider Buying and Selling at Southern Copper

In other news, Director Bonilla Luis Miguel Palomino sold 200 shares of Southern Copper stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $177.82, for a total value of $35,564.00. Following the transaction, the director owned 1,807 shares of the company’s stock, valued at $321,320.74. The trade was a 9.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders have sold 404 shares of company stock valued at $74,108. 0.07% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SCCO. The Goldman Sachs Group upgraded Southern Copper from a “sell” rating to a “neutral” rating and set a $178.00 price objective for the company in a report on Friday, April 10th. Barclays reiterated an “underweight” rating and set a $160.00 target price (up from $148.00) on shares of Southern Copper in a report on Wednesday, July 15th. Scotiabank reissued an “underperform” rating and set a $140.00 target price (up from $135.00) on shares of Southern Copper in a research report on Monday, June 15th. Wells Fargo & Company boosted their price target on shares of Southern Copper from $171.00 to $172.00 and gave the company an “equal weight” rating in a report on Thursday, July 9th. Finally, JPMorgan Chase & Co. upped their price target on shares of Southern Copper from $127.00 to $131.50 and gave the stock an “underweight” rating in a research report on Wednesday, June 17th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have issued a Hold rating and seven have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Southern Copper has a consensus rating of “Reduce” and an average target price of $148.10.

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.