5,091 Shares in Southern Copper Corporation $SCCO Purchased by Chesapeake Capital Corp IL

Chesapeake Capital Corp IL bought a new stake in shares of Southern Copper Corporation (NYSE:SCCO) in the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 5,091 shares of the basic materials company’s stock, valued at approximately $618,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Royal Bank of Canada boosted its position in shares of Southern Copper by 42.1% during the first quarter. Royal Bank of Canada now owns 44,879 shares of the basic materials company’s stock worth $4,194,000 after buying an additional 13,293 shares during the period. Empowered Funds LLC increased its position in Southern Copper by 17.9% in the 1st quarter. Empowered Funds LLC now owns 6,705 shares of the basic materials company’s stock valued at $627,000 after acquiring an additional 1,020 shares during the period. Focus Partners Wealth raised its stake in Southern Copper by 21.5% during the 1st quarter. Focus Partners Wealth now owns 5,944 shares of the basic materials company’s stock valued at $556,000 after acquiring an additional 1,052 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in Southern Copper by 7.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 31,674 shares of the basic materials company’s stock valued at $3,205,000 after acquiring an additional 2,330 shares in the last quarter. Finally, Savant Capital LLC acquired a new position in Southern Copper during the 2nd quarter worth $502,000. Institutional investors own 7.94% of the company’s stock.

Insider Transactions at Southern Copper

In other Southern Copper 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 transaction of $1,954,344.91. Following the completion of the sale, the director directly owned 605 shares of the company’s stock, valued at approximately $126,783.04. This represents a 93.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.07% of the company’s stock.

Southern Copper Trading Down 5.3%

Shares of Southern Copper stock opened at $171.05 on Friday. The company has a quick ratio of 3.40, a current ratio of 3.89 and a debt-to-equity ratio of 0.61. The firm has a market cap of $138.92 billion, a price-to-earnings ratio of 32.15, a price-to-earnings-growth ratio of 1.86 and a beta of 1.03. The business has a fifty day simple moving average of $190.66 and a 200-day simple moving average of $148.84. Southern Copper Corporation has a fifty-two week low of $74.84 and a fifty-two week high of $223.88.

Southern Copper Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Zacks Research lowered Southern Copper from a “strong-buy” rating to a “hold” rating in a report on Monday, December 8th. Bank of America downgraded shares of Southern Copper from a “neutral” rating to an “underperform” rating and upped their price objective for the stock from $162.00 to $175.00 in a report on Thursday, February 26th. Wall Street Zen lowered shares of Southern Copper from a “buy” rating to a “hold” rating in a research report on Sunday, March 1st. Scotiabank reissued an “underperform” rating on shares of Southern Copper in a research note on Tuesday, January 27th. Finally, Morgan Stanley restated an “underweight” rating and set a $154.69 price target on shares of Southern Copper in a research report on Friday, January 30th. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and eight have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $139.99.

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.