113,993 Shares in Southern Copper Corporation $SCCO Purchased by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Southern Copper Corporation (NYSE:SCCO) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 113,993 shares of the basic materials company’s stock, valued at approximately $19,864,000.

A number of other large investors also recently bought and sold shares of SCCO. California Public Employees Retirement System raised its position in Southern Copper by 21.2% in the first quarter. California Public Employees Retirement System now owns 192,523 shares of the basic materials company’s stock valued at $33,126,000 after purchasing an additional 33,638 shares during the period. RFG Advisory LLC purchased a new position in shares of Southern Copper during the fourth quarter worth $1,147,000. US Bancorp DE boosted its position in shares of Southern Copper by 16.2% during the fourth quarter. US Bancorp DE now owns 74,484 shares of the basic materials company’s stock worth $10,687,000 after buying an additional 10,360 shares during the period. Ashoka WhiteOak Capital Pte Ltd acquired a new stake in shares of Southern Copper in the fourth quarter valued at $5,460,000. Finally, Precision Wealth Strategies LLC acquired a new stake in shares of Southern Copper in the first quarter valued at $2,769,000. Institutional investors and hedge funds own 7.94% of the company’s stock.

Analyst Upgrades and Downgrades

SCCO has been the topic of several research analyst reports. Weiss Ratings upgraded Southern Copper from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, July 28th. Scotiabank restated an “underperform” rating and set a $138.34 target price (up from $133.40) on shares of Southern Copper in a report on Monday, June 15th. Barclays set a $164.03 target price on Southern Copper and gave the company an “underweight” rating in a research report on Thursday, July 23rd. Wells Fargo & Company boosted their price target on shares of Southern Copper from $168.97 to $169.96 and gave the stock an “equal weight” rating in a research note on Thursday, July 9th. Finally, Morgan Stanley increased their price target on shares of Southern Copper from $144.27 to $156.13 and gave the stock an “underweight” rating in a research report on Wednesday, July 8th. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and seven have given a Sell rating to the stock. According to MarketBeat.com, Southern Copper has a consensus rating of “Reduce” and a consensus price target of $146.84.

Insider Buying and Selling

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 202 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $196.79, for a total transaction of $39,751.28. Following the completion of the transaction, the director owned 1,723 shares in the company, valued at $339,066.65. The trade was a 10.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last ninety days, insiders have sold 509 shares of company stock worth $97,753. Insiders own 0.07% of the company’s stock.

Southern Copper Price Performance

Shares of NYSE SCCO opened at $199.45 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 5.06 and a quick ratio of 4.56. The company has a market cap of $166.41 billion, a price-to-earnings ratio of 29.16, a price-to-earnings-growth ratio of 1.67 and a beta of 1.11. The stock’s 50-day moving average is $181.66 and its two-hundred day moving average is $182.97. Southern Copper Corporation has a 1-year low of $92.57 and a 1-year high of $223.88.

Southern Copper (NYSE:SCCO) last announced its quarterly earnings data on Wednesday, July 22nd. The basic materials company reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.06. Southern Copper had a return on equity of 49.04% and a net margin of 35.87%.The business had revenue of $4.29 billion during the quarter, compared to analysts’ expectations of $4.37 billion. The company’s revenue was up 40.6% compared to the same quarter last year. Analysts forecast that Southern Copper Corporation will post 7.61 EPS for the current fiscal year.

Southern Copper Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Tuesday, August 11th will be issued a dividend of $1.10 per share. This is a boost from Southern Copper’s previous quarterly dividend of $1.00. The ex-dividend date is Tuesday, August 11th. This represents a $4.40 annualized dividend and a yield of 2.2%. Southern Copper’s dividend payout ratio (DPR) is presently 64.33%.

Southern Copper 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.