Schwab Charles Investment Management Inc. boosted its position in Southern Copper Corporation (NYSE:SCCO) by 15.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 270,974 shares of the basic materials company’s stock after buying an additional 35,616 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Southern Copper Corporation were worth $9,726,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. KAMES CAPITAL plc bought a new position in Southern Copper Corporation during the first quarter valued at $775,000. 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 valued at $115,000 after buying an additional 400 shares during the period. Personal Capital Advisors Corp increased its position in Southern Copper Corporation by 7.4% in the first quarter. Personal Capital Advisors Corp now owns 860,345 shares of the basic materials company’s stock valued at $31,101,000 after buying an additional 59,616 shares during the period. Nationwide Fund Advisors increased its position in Southern Copper Corporation by 66.7% in the first quarter. Nationwide Fund Advisors now owns 50,000 shares of the basic materials company’s stock valued at $1,795,000 after buying an additional 20,000 shares during the period. Finally, Bollard Group LLC increased its position in Southern Copper Corporation by 10.3% in the first quarter. Bollard Group LLC now owns 334,311 shares of the basic materials company’s stock valued at $11,998,000 after buying an additional 31,117 shares during the period. Hedge funds and other institutional investors own 6.31% of the company’s stock.
Shares of Southern Copper Corporation (NYSE SCCO) opened at 38.72 on Friday. The stock has a 50 day moving average of $36.32 and a 200 day moving average of $36.13. Southern Copper Corporation has a 1-year low of $24.90 and a 1-year high of $39.94. The stock has a market cap of $29.93 billion, a PE ratio of 30.44 and a beta of 0.55.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 23rd. Stockholders of record on Wednesday, August 9th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date is Monday, August 7th. This is a positive change from Southern Copper Corporation’s previous quarterly dividend of $0.12. Southern Copper Corporation’s payout ratio is currently 37.50%.
COPYRIGHT VIOLATION NOTICE: This piece of content was first published by StockNewsTimes and is the property of of StockNewsTimes. If you are viewing this piece of content on another domain, it was copied illegally and reposted in violation of US & international copyright & trademark laws. The legal version of this piece of content can be viewed at https://stocknewstimes.com/2017/08/05/schwab-charles-investment-management-inc-acquires-35616-shares-of-southern-copper-corporation-scco-updated.html.
Several research analysts recently weighed in on the stock. Cowen and Company restated a “hold” rating and set a $39.00 price target on shares of Southern Copper Corporation in a research report on Wednesday, July 19th. BidaskClub raised shares of Southern Copper Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Finally, FBR & Co dropped 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. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. Southern Copper Corporation has an average rating of “Hold” and a consensus target price of $33.53.
In other news, Chairman German Larrea Mota Velasco sold 25,070 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $39.50, for a total value of $990,265.00. Following the completion of the transaction, the chairman now owns 3,477,097 shares of the company’s stock, valued at $137,345,331.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In the last three months, insiders sold 900,670 shares of company stock valued at $35,575,771. Company insiders own 0.53% of the company’s stock.
About Southern Copper Corporation
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.
Receive News & Ratings for Southern Copper Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southern Copper Corporation and related companies with MarketBeat.com's FREE daily email newsletter.
