Ameritas Advisory Services LLC Has $436,000 Stake in Southern Copper Corporation $SCCO

Ameritas Advisory Services LLC lifted its holdings in shares of Southern Copper Corporation (NYSE:SCCO) by 23.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,312 shares of the basic materials company’s stock after buying an additional 809 shares during the quarter. Ameritas Advisory Services LLC’s holdings in Southern Copper were worth $436,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas bought a new position in Southern Copper in the first quarter valued at about $2,637,000. Golden State Wealth Management LLC purchased a new position in shares of Southern Copper during the 1st quarter valued at about $29,000. Oppenheimer & Co. Inc. purchased a new stake in Southern Copper during the 1st quarter valued at $337,000. GAMMA Investing LLC grew its holdings in shares of Southern Copper by 35.2% during the 1st quarter. GAMMA Investing LLC now owns 906 shares of the basic materials company’s stock worth $85,000 after acquiring an additional 236 shares during the period. Finally, Novem Group raised its position in shares of Southern Copper by 34.4% in the 1st quarter. Novem Group now owns 10,758 shares of the basic materials company’s stock worth $1,005,000 after purchasing an additional 2,754 shares during the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on SCCO shares. Jefferies Financial Group set a $155.00 price objective on Southern Copper and gave the company a “buy” rating in a research report on Monday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Southern Copper in a research report on Saturday, September 27th. Itau BBA Securities raised Southern Copper from an “underperform” rating to a “market perform” rating in a research report on Wednesday, June 11th. JPMorgan Chase & Co. lifted their target price on shares of Southern Copper from $79.00 to $92.00 and gave the company a “neutral” rating in a report on Wednesday, September 3rd. Finally, Morgan Stanley restated an “underweight” rating and issued a $99.00 target price (up previously from $86.00) on shares of Southern Copper in a research report on Tuesday, July 15th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Southern Copper has a consensus rating of “Reduce” and an average price target of $102.83.

Insider Buying and Selling at Southern Copper

In other news, Director Bonilla Luis Miguel Palomino sold 414 shares of the company’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $100.00, for a total transaction of $41,400.00. Following the completion of the transaction, the director owned 2,327 shares in the company, valued at approximately $232,700. This represents a 15.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 1,228 shares of company stock worth $123,102 over the last 90 days. 0.07% of the stock is currently owned by corporate insiders.

Southern Copper Stock Performance

Shares of SCCO opened at $130.30 on Tuesday. Southern Copper Corporation has a 12-month low of $74.84 and a 12-month high of $133.25. The stock has a market cap of $104.77 billion, a P/E ratio of 28.51, a PEG ratio of 1.31 and a beta of 1.02. The company has a 50-day moving average of $103.65 and a two-hundred day moving average of $97.14. The company has a current ratio of 5.27, a quick ratio of 4.51 and a debt-to-equity ratio of 0.67.

Southern Copper Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Friday, August 15th were given a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend was Friday, August 15th. This is an increase from Southern Copper’s previous quarterly dividend of $0.62. Southern Copper’s payout ratio is presently 70.02%.

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.