Gotham Asset Management LLC Grows Stock Holdings in Southern Copper Corporation $SCCO

Gotham Asset Management LLC grew its position in shares of Southern Copper Corporation (NYSE:SCCO) by 5.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 445,987 shares of the basic materials company’s stock after purchasing an additional 23,022 shares during the period. Gotham Asset Management LLC owned about 0.05% of Southern Copper worth $63,986,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Lloyd Advisory Services LLC. bought a new stake in Southern Copper in the 4th quarter worth approximately $29,000. Virtus Advisers LLC purchased a new position in shares of Southern Copper during the fourth quarter worth approximately $29,000. Caitlin John LLC bought a new stake in shares of Southern Copper in the 3rd quarter worth approximately $30,000. Godfrey Financial Associates Inc. purchased a new stake in shares of Southern Copper in the 4th quarter valued at $30,000. Finally, IFP Advisors Inc grew its holdings in shares of Southern Copper by 233.3% during 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. 7.94% of the stock is currently owned by institutional investors.

Southern Copper Price Performance

SCCO stock opened at $191.52 on Thursday. Southern Copper Corporation has a 52-week low of $88.73 and a 52-week high of $223.88. The firm has a market capitalization of $156.88 billion, a price-to-earnings ratio of 31.66, a PEG ratio of 1.83 and a beta of 1.09. The firm has a 50 day moving average price of $184.31 and a 200-day moving average price of $176.88. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.89 and a current ratio of 4.38.

Southern Copper Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Wednesday, May 13th were paid a $1.00 dividend. 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 dividend payout ratio is 66.12%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on SCCO shares. The Goldman Sachs Group raised shares of Southern Copper from a “sell” rating to a “neutral” rating and set a $178.00 price target for the company in a research note on Friday, April 10th. Barclays assumed coverage on Southern Copper in a report on Thursday, May 21st. They set an “underweight” rating and a $148.00 target price for the company. Morgan Stanley lifted their price target on Southern Copper from $155.00 to $160.00 and gave the stock an “underweight” rating in a research note on Thursday, April 9th. JPMorgan Chase & Co. increased their price objective on Southern Copper from $127.00 to $131.50 and gave the company an “underweight” rating in a research note on Wednesday. Finally, Wells Fargo & Company set a $171.00 target price on shares of Southern Copper and gave the stock 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 stock. According to MarketBeat, Southern Copper presently has a consensus rating of “Reduce” and a consensus target price of $145.94.

Insider Activity

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 200 shares of the company’s stock in a transaction dated 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 sale, the director owned 1,807 shares in the company, valued at $321,320.74. This represents a 9.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last ninety days, insiders have sold 404 shares of company stock worth $74,108. Insiders own 0.07% of the company’s stock.

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.