Fox Run Management L.L.C. Acquires Shares of 3,604 Southern Copper Corporation $SCCO

Fox Run Management L.L.C. acquired a new position in shares of Southern Copper Corporation (NYSE:SCCO) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,604 shares of the basic materials company’s stock, valued at approximately $437,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Southern Copper during the 2nd quarter valued at about $57,901,000. HRT Financial LP acquired a new stake in Southern Copper in the second quarter valued at approximately $29,771,000. Man Group plc grew its position in Southern Copper by 65.4% in the second quarter. Man Group plc now owns 467,119 shares of the basic materials company’s stock valued at $47,258,000 after acquiring an additional 184,641 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Southern Copper by 10.8% during the second quarter. JPMorgan Chase & Co. now owns 1,719,883 shares of the basic materials company’s stock valued at $174,002,000 after purchasing an additional 168,005 shares during the period. Finally, Ossiam lifted its position in shares of Southern Copper by 236,557.7% during the second quarter. Ossiam now owns 168,027 shares of the basic materials company’s stock worth $16,999,000 after purchasing an additional 167,956 shares in the last quarter. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Southern Copper Stock Up 1.0%

NYSE:SCCO opened at $217.88 on Monday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 3.91 and a current ratio of 4.52. The company has a market capitalization of $176.96 billion, a price-to-earnings ratio of 40.96, a price-to-earnings-growth ratio of 2.25 and a beta of 1.03. Southern Copper Corporation has a one year low of $74.84 and a one year high of $223.89. The stock has a 50-day simple moving average of $180.98 and a 200 day simple moving average of $142.63.

Southern Copper Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Tuesday, February 10th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Tuesday, February 10th. This represents a $4.00 annualized dividend and a dividend yield of 1.8%. This is an increase from Southern Copper’s previous quarterly dividend of $0.90. Southern Copper’s dividend payout ratio is currently 75.19%.

Insider Buying and Selling at Southern Copper

In other Southern Copper news, Director Lerdo De Tejada Leon Contreras sold 9,326 shares of Southern Copper stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $209.56, for a total value of $1,954,344.91. Following the completion of the transaction, the director owned 605 shares of the company’s stock, valued at $126,783.04. The trade was a 93.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Bonilla Luis Miguel Palomino sold 403 shares of the business’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $137.83, for a total transaction of $55,544.87. Following the sale, the director owned 1,275 shares of the company’s stock, valued at approximately $175,731.28. The trade was a 24.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.07% of the company’s stock.

Wall Street Analyst Weigh In

SCCO has been the subject of a number of recent analyst reports. Wall Street Zen lowered shares of Southern Copper from a “buy” rating to a “hold” rating in a report on Sunday. Scotiabank reissued an “underperform” rating on shares of Southern Copper in a research report on Tuesday, January 27th. JPMorgan Chase & Co. restated an “underweight” rating and set a $116.51 target price (down from $118.49) on shares of Southern Copper in a research note on Friday, January 23rd. Morgan Stanley reiterated an “underweight” rating and issued a $154.69 price target on shares of Southern Copper in a research note on Friday, January 30th. Finally, The Goldman Sachs Group reissued a “sell” rating and issued a $127.91 price target on shares of Southern Copper in a report on Wednesday, January 14th. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and eight have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Southern Copper presently has an average rating of “Reduce” and an average target price of $139.99.

Southern Copper Company Profile

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.