General Pension Society PZU Joint Stock Co Purchases 3,932 Shares of Southern Copper Corporation $SCCO

General Pension Society PZU Joint Stock Co increased its position in shares of Southern Copper Corporation (NYSE:SCCO) by 1.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 393,286 shares of the basic materials company’s stock after purchasing an additional 3,932 shares during the period. Southern Copper comprises about 11.5% of General Pension Society PZU Joint Stock Co’s investment portfolio, making the stock its 2nd largest position. General Pension Society PZU Joint Stock Co’s holdings in Southern Copper were worth $47,729,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Norges Bank bought a new stake in Southern Copper in the 2nd quarter valued at $57,901,000. HRT Financial LP acquired a new stake in shares of Southern Copper during the 2nd quarter valued at about $29,771,000. Man Group plc increased its stake 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 during the period. JPMorgan Chase & Co. raised its position in Southern Copper by 10.8% in the second quarter. JPMorgan Chase & Co. now owns 1,719,883 shares of the basic materials company’s stock worth $174,002,000 after purchasing an additional 168,005 shares in the last quarter. Finally, Ossiam raised its position in Southern Copper by 236,557.7% in 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. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SCCO. Weiss Ratings reiterated a “buy (b)” rating on shares of Southern Copper in a research note on Monday, December 29th. Wall Street Zen cut Southern Copper from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. UBS Group reiterated a “sell” rating and set a $148.74 price objective (up from $146.75) on shares of Southern Copper in a research note on Tuesday, February 3rd. Morgan Stanley restated an “underweight” rating and issued a $154.69 target price on shares of Southern Copper in a research note on Friday, January 30th. Finally, HSBC reaffirmed a “hold” rating and issued a $117.01 target price (up previously from $104.12) on shares of Southern Copper in a report on Friday, October 17th. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and seven have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $136.49.

Insider Buying and Selling

In other Southern Copper news, Director Lerdo De Tejada Leon Contreras sold 9,326 shares of the stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $209.56, for a total value of $1,954,344.91. Following the transaction, the director directly owned 605 shares in the company, valued at approximately $126,783.04. This trade represents a 93.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bonilla Luis Miguel Palomino sold 403 shares of the business’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $137.83, for a total value 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 SEC filing for this sale provides additional information. Company insiders own 0.07% of the company’s stock.

Southern Copper Price Performance

Shares of SCCO stock opened at $208.32 on Tuesday. Southern Copper Corporation has a 52 week low of $74.84 and a 52 week high of $218.81. The stock has a market capitalization of $169.20 billion, a PE ratio of 39.16, a PEG ratio of 1.64 and a beta of 1.06. 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 stock’s fifty day moving average is $164.80 and its 200-day moving average is $133.10.

Southern Copper Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Tuesday, February 10th will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 1.9%. This is an increase from Southern Copper’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Tuesday, February 10th. Southern Copper’s payout ratio is currently 67.67%.

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.