Pacer Advisors Inc. Purchases 65,598 Shares of Southern Copper Corporation $SCCO

Pacer Advisors Inc. grew its position in Southern Copper Corporation (NYSE:SCCO) by 23.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 344,350 shares of the basic materials company’s stock after buying an additional 65,598 shares during the quarter. Pacer Advisors Inc.’s holdings in Southern Copper were worth $49,404,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in SCCO. Lloyd Advisory Services LLC. bought a new position in Southern Copper in the fourth quarter valued at approximately $29,000. Virtus Advisers LLC bought a new stake in Southern Copper during the fourth quarter worth $29,000. Caitlin John LLC acquired a new stake in shares of Southern Copper in the 3rd quarter valued at $30,000. Godfrey Financial Associates Inc. bought a new position in shares of Southern Copper in the 4th quarter valued at $30,000. Finally, IFP Advisors Inc increased its stake in shares of Southern Copper by 233.3% in the 4th quarter. IFP Advisors Inc now owns 230 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 161 shares during the last quarter. Institutional investors own 7.94% of the company’s stock.

Insider Activity

In other news, Director Bonilla Luis Miguel Palomino sold 200 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $177.82, for a total value of $35,564.00. Following the completion of the transaction, the director owned 1,807 shares of the company’s stock, valued at $321,320.74. This represents a 9.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders sold a total of 404 shares of company stock valued at $74,108 over the last three months. Corporate insiders own 0.07% of the company’s stock.

Southern Copper Trading Up 0.0%

Shares of SCCO stock opened at $192.98 on Friday. Southern Copper Corporation has a twelve month low of $88.73 and a twelve month high of $223.88. The stock’s fifty day simple moving average is $184.81 and its 200 day simple moving average is $177.41. The company has a quick ratio of 3.89, a current ratio of 4.38 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $159.41 billion, a P/E ratio of 31.90, a P/E/G ratio of 1.79 and a beta of 1.09.

Southern Copper Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Wednesday, May 13th were issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Wednesday, May 13th. Southern Copper’s payout ratio is 66.12%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. 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 research report on Friday, April 10th. Scotiabank reiterated an “underperform” rating and issued a $140.00 target price (up from $135.00) on shares of Southern Copper in a research report on Monday. Bank of America downgraded Southern Copper from a “neutral” rating to an “underperform” rating and boosted their target price for the stock from $162.00 to $175.00 in a research note on Thursday, February 26th. UBS Group raised their price target on shares of Southern Copper from $140.00 to $145.00 and gave the company a “sell” rating in a research note on Thursday, May 21st. Finally, Wells Fargo & Company set a $171.00 price target on shares of Southern Copper and gave the company an “equal weight” rating in a report on Friday, May 1st. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and eight have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $145.94.

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.