Southern Copper Co. (NYSE:SCCO) Shares Purchased by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC boosted its holdings in Southern Copper Co. (NYSE:SCCO) by 2.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 103,415 shares of the basic materials company’s stock after purchasing an additional 2,843 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Southern Copper were worth $11,142,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Norden Group LLC bought a new stake in Southern Copper in the first quarter valued at $1,820,000. Tyche Wealth Partners LLC bought a new stake in Southern Copper in the fourth quarter valued at $1,668,000. Los Angeles Capital Management LLC lifted its stake in Southern Copper by 471.0% in the first quarter. Los Angeles Capital Management LLC now owns 31,655 shares of the basic materials company’s stock valued at $3,372,000 after buying an additional 26,111 shares during the last quarter. Cetera Investment Advisers lifted its stake in Southern Copper by 395.1% in the first quarter. Cetera Investment Advisers now owns 38,803 shares of the basic materials company’s stock valued at $4,133,000 after buying an additional 30,966 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its stake in Southern Copper by 378.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 166,398 shares of the basic materials company’s stock valued at $14,322,000 after buying an additional 131,651 shares during the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Southern Copper Price Performance

Southern Copper stock traded down $0.16 during midday trading on Friday, hitting $99.17. The company’s stock had a trading volume of 703,021 shares, compared to its average volume of 1,247,170. The company has a quick ratio of 2.56, a current ratio of 2.81 and a debt-to-equity ratio of 0.67. The stock’s 50-day moving average price is $108.04 and its 200-day moving average price is $103.81. Southern Copper Co. has a 12 month low of $68.93 and a 12 month high of $129.79. The company has a market capitalization of $77.47 billion, a PE ratio of 32.96, a price-to-earnings-growth ratio of 1.01 and a beta of 1.20.

Southern Copper Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 26th. Shareholders of record on Friday, August 9th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.42%. The ex-dividend date is Friday, August 9th. Southern Copper’s dividend payout ratio (DPR) is presently 92.07%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on SCCO shares. StockNews.com upgraded Southern Copper from a “hold” rating to a “buy” rating in a research note on Wednesday, May 15th. CICC Research assumed coverage on Southern Copper in a research note on Wednesday, April 24th. They issued an “outperform” rating on the stock. Morgan Stanley lifted their price objective on shares of Southern Copper from $81.70 to $100.00 and gave the company an “underweight” rating in a research note on Friday, June 21st. UBS Group assumed coverage on shares of Southern Copper in a research note on Friday, July 12th. They set a “neutral” rating and a $120.00 price objective on the stock. Finally, Scotiabank cut their price objective on shares of Southern Copper from $55.00 to $54.00 and set a “sector underperform” rating on the stock in a research note on Tuesday, May 21st. Five equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $89.57.

Southern Copper Company Profile

Southern Copper Corporation engages in mining, exploring, smelting, and refining copper and other minerals in Peru, Mexico, Argentina, Ecuador, and Chile. The company is involved in the mining, milling, and flotation of copper ore to produce copper and molybdenum concentrates; smelting of copper concentrates to produce blister and anode copper; refining of anode copper to produce copper cathodes; production of molybdenum concentrate and sulfuric acid; production of refined silver, gold, and other materials; and mining and processing of zinc, copper, molybdenum, silver, gold, and lead.