Gotham Asset Management LLC Purchases 127,963 Shares of Southern Copper Corporation $SCCO

Gotham Asset Management LLC raised its position in Southern Copper Corporation (NYSE:SCCO) by 43.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 422,965 shares of the basic materials company’s stock after purchasing an additional 127,963 shares during the quarter. Southern Copper accounts for approximately 0.2% of Gotham Asset Management LLC’s holdings, making the stock its 28th biggest holding. Gotham Asset Management LLC’s holdings in Southern Copper were worth $51,331,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Rakuten Investment Management Inc. bought a new stake in shares of Southern Copper during the 3rd quarter worth approximately $2,976,000. Legal & General Group Plc grew its position in 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 acquiring an additional 38,856 shares during the last quarter. Nordea Investment Management AB grew its position in Southern Copper by 5.7% in the 3rd quarter. Nordea Investment Management AB now owns 148,484 shares of the basic materials company’s stock valued at $17,778,000 after acquiring an additional 7,995 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Southern Copper by 2,631.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,441 shares of the basic materials company’s stock worth $1,631,000 after purchasing an additional 12,949 shares during the period. Finally, Alps Advisors Inc. increased its stake in Southern Copper by 54.2% in the third quarter. Alps Advisors Inc. now owns 35,647 shares of the basic materials company’s stock worth $4,326,000 after purchasing an additional 12,532 shares during the period. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Insiders Place Their Bets

In other Southern Copper news, Director Lerdo De Tejada Leon Contreras sold 9,326 shares of the stock in a transaction dated Tuesday, February 3rd. The shares were 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 $126,783.04. This represents a 93.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.07% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

SCCO has been the subject of a number of recent analyst reports. Bank of America lowered shares of Southern Copper from a “neutral” rating to an “underperform” rating and boosted their target price for the company from $162.00 to $175.00 in a research note on Thursday, February 26th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Southern Copper in a research note on Monday, December 29th. UBS Group reiterated a “sell” rating and set a $148.74 price objective (up from $146.75) on shares of Southern Copper in a report on Tuesday, February 3rd. Itau BBA Securities cut shares of Southern Copper from a “market perform” rating to an “underperform” rating and set a $124.94 price objective for the company. in a research report on Monday, December 22nd. Finally, Scotiabank restated 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $139.99.

Southern Copper Price Performance

Shares of SCCO stock opened at $171.05 on Monday. Southern Copper Corporation has a twelve month low of $74.84 and a twelve month high of $223.88. The company has a current ratio of 3.89, a quick ratio of 3.40 and a debt-to-equity ratio of 0.61. The stock has a fifty day simple moving average of $190.66 and a two-hundred day simple moving average of $149.58. The stock has a market capitalization of $138.92 billion, a price-to-earnings ratio of 32.15, a P/E/G ratio of 1.76 and a beta of 1.03.

Southern Copper Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Tuesday, February 10th were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.3%. This is a boost from Southern Copper’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Tuesday, February 10th. Southern Copper’s payout ratio is currently 75.19%.

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.