Southern Copper Corporation $SCCO Shares Bought by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ grew its position in Southern Copper Corporation (NYSE:SCCO) by 29.1% in the third quarter, Holdings Channel.com reports. The fund owned 33,748 shares of the basic materials company’s stock after buying an additional 7,602 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Southern Copper were worth $4,090,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its holdings in Southern Copper by 10.8% in the second quarter. JPMorgan Chase & Co. now owns 1,719,883 shares of the basic materials company’s stock worth $174,002,000 after purchasing an additional 168,005 shares during the period. Empower Advisory Group LLC lifted its position in shares of Southern Copper by 8.4% in the 2nd quarter. Empower Advisory Group LLC now owns 979,877 shares of the basic materials company’s stock worth $99,134,000 after buying an additional 75,653 shares during the last quarter. Vanguard Group Inc. lifted its position 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 worth $115,294,000 after buying an additional 96,013 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Southern Copper by 4.3% in the 2nd 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 period. Finally, Bollard Group LLC grew its position in shares of Southern Copper by 14.1% during the 2nd quarter. Bollard Group LLC now owns 834,344 shares of the basic materials company’s stock valued at $84,411,000 after buying an additional 103,014 shares during the last quarter. 7.94% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on SCCO. Wall Street Zen upgraded Southern Copper from a “hold” rating to a “buy” rating in a research note on Saturday. Morgan Stanley reissued an “underweight” rating and issued a $154.69 price target on shares of Southern Copper in a report on Friday, January 30th. The Goldman Sachs Group restated a “sell” rating and set a $127.91 price objective on shares of Southern Copper in a research report on Wednesday, January 14th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Southern Copper in a research report on Monday, December 29th. Finally, Scotiabank reiterated 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 assigned a Hold rating and seven have issued a Sell rating to the stock. According to data from MarketBeat.com, Southern Copper currently has a consensus rating of “Reduce” and an average price target of $136.49.

Southern Copper Stock Up 3.6%

SCCO opened at $200.99 on Friday. The stock’s 50 day moving average price is $173.75 and its 200 day moving average price is $137.92. The company has a debt-to-equity ratio of 0.64, a current ratio of 4.52 and a quick ratio of 3.91. The stock has a market cap of $163.24 billion, a P/E ratio of 37.78, a P/E/G ratio of 1.60 and a beta of 1.07. Southern Copper Corporation has a 12 month low of $74.84 and a 12 month high of $218.81.

Southern Copper Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Tuesday, February 10th will be paid a dividend of $1.00 per share. This is an increase 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 2.0%. The ex-dividend date is Tuesday, February 10th. Southern Copper’s dividend payout ratio (DPR) is presently 75.19%.

Insider Activity

In related news, Director Lerdo De Tejada Leon Contreras sold 9,326 shares of the company’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $209.56, for a total value of $1,954,344.91. Following the completion of the sale, the director owned 605 shares of the company’s stock, valued at $126,783.04. This represents a 93.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Bonilla Luis Miguel Palomino sold 403 shares of the firm’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $137.83, for a total transaction of $55,544.87. Following the transaction, the director directly owned 1,275 shares in the company, valued at approximately $175,731.28. The trade was a 24.02% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.07% of the company’s stock.

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.