Janus Capital Management LLC Boosts Stake in Southern Copper Corporation (SCCO)

Janus Capital Management LLC increased its position in Southern Copper Corporation (NYSE:SCCO) by 220.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,200 shares of the basic materials company’s stock after buying an additional 24,200 shares during the period. Janus Capital Management LLC’s holdings in Southern Copper Corporation were worth $1,263,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Hansberger Growth Investors LP increased its position in Southern Copper Corporation by 0.6% in the first quarter. Hansberger Growth Investors LP now owns 53,140 shares of the basic materials company’s stock worth $1,907,000 after buying an additional 300 shares in the last quarter. Capstone Asset Management Co. increased its position in Southern Copper Corporation by 1.9% in the first quarter. Capstone Asset Management Co. now owns 18,423 shares of the basic materials company’s stock worth $661,000 after buying an additional 340 shares in the last quarter. PNC Financial Services Group Inc. increased its position in Southern Copper Corporation by 3.8% in the first quarter. PNC Financial Services Group Inc. now owns 9,827 shares of the basic materials company’s stock worth $353,000 after buying an additional 359 shares in the last quarter. Sit Investment Associates Inc. increased its position in Southern Copper Corporation by 14.3% in the first quarter. Sit Investment Associates Inc. now owns 3,200 shares of the basic materials company’s stock worth $115,000 after buying an additional 400 shares in the last quarter. Finally, M&T Bank Corp increased its position in Southern Copper Corporation by 1.4% in the first quarter. M&T Bank Corp now owns 29,912 shares of the basic materials company’s stock worth $1,073,000 after buying an additional 400 shares in the last quarter. 6.31% of the stock is owned by hedge funds and other institutional investors.

Shares of Southern Copper Corporation (NYSE SCCO) opened at 39.8126 on Monday. The company has a market capitalization of $30.78 billion, a PE ratio of 31.2992 and a beta of 0.53. The stock has a 50 day moving average of $36.13 and a 200-day moving average of $36.04. Southern Copper Corporation has a one year low of $24.90 and a one year high of $39.94.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 23rd. Shareholders of record on Wednesday, August 9th will be given a $0.14 dividend. This is a positive change from Southern Copper Corporation’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Monday, August 7th. This represents a $0.56 annualized dividend and a yield of 1.42%. Southern Copper Corporation’s payout ratio is currently 40.68%.

SCCO has been the subject of a number of recent research reports. FBR & Co reduced their price objective on shares of Southern Copper Corporation from $43.00 to $42.00 and set an “outperform” rating for the company in a research note on Friday, June 16th. Cowen and Company restated a “hold” rating on shares of Southern Copper Corporation in a research note on Tuesday, April 11th. Finally, BidaskClub upgraded shares of Southern Copper Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $33.53.

Southern Copper Corporation Company Profile

Southern Copper Corporation is an integrated copper producer. It produces copper and, in the production process, obtains several by-products, including molybdenum, silver, zinc, sulfuric acid and other metals. Its segments include the Peruvian operations, the Mexican open-pit operations and the Mexican underground mining operations segment identified as the IMMSA unit.