Randolph Co Inc Raises Position in Southern Copper Corporation $SCCO

Randolph Co Inc raised its stake in Southern Copper Corporation (NYSE:SCCO) by 1.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 197,776 shares of the basic materials company’s stock after purchasing an additional 2,318 shares during the quarter. Southern Copper accounts for about 2.1% of Randolph Co Inc’s portfolio, making the stock its 24th biggest position. Randolph Co Inc’s holdings in Southern Copper were worth $20,009,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. American National Bank & Trust purchased a new stake in shares of Southern Copper in the second quarter worth approximately $184,000. Jeppson Wealth Management LLC increased its position in shares of Southern Copper by 76.1% during the second quarter. Jeppson Wealth Management LLC now owns 6,295 shares of the basic materials company’s stock valued at $637,000 after acquiring an additional 2,721 shares during the last quarter. Beacon Investment Advisory Services Inc. increased its position in shares of Southern Copper by 7.2% during the second quarter. Beacon Investment Advisory Services Inc. now owns 57,710 shares of the basic materials company’s stock valued at $5,839,000 after acquiring an additional 3,852 shares during the last quarter. Ballentine Partners LLC increased its position in shares of Southern Copper by 33.5% during the second quarter. Ballentine Partners LLC now owns 4,723 shares of the basic materials company’s stock valued at $478,000 after acquiring an additional 1,184 shares during the last quarter. Finally, Norden Group LLC increased its position in shares of Southern Copper by 49.0% during the second quarter. Norden Group LLC now owns 7,510 shares of the basic materials company’s stock valued at $760,000 after acquiring an additional 2,470 shares during the last quarter. 7.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SCCO. JPMorgan Chase & Co. increased their price target on Southern Copper from $79.00 to $92.00 and gave the company a “neutral” rating in a research report on Wednesday, September 3rd. Itau BBA Securities raised Southern Copper from an “underperform” rating to a “market perform” rating in a research report on Wednesday, June 11th. UBS Group reaffirmed a “buy” rating on shares of Southern Copper in a research report on Friday, September 19th. The Goldman Sachs Group set a $89.00 price target on Southern Copper and gave the company a “sell” rating in a research report on Wednesday, September 17th. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $99.00 price target (up from $86.00) on shares of Southern Copper in a research report on Tuesday, July 15th. Four investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, Southern Copper presently has an average rating of “Reduce” and a consensus price target of $93.67.

Insider Buying and Selling at Southern Copper

In other news, Director Bonilla Luis Miguel Palomino sold 414 shares of Southern Copper stock in a transaction on Friday, August 8th. The stock was sold at an average price of $100.00, for a total value of $41,400.00. Following the completion of the transaction, the director directly owned 2,327 shares in the company, valued at approximately $232,700. The trade was a 15.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 1,228 shares of company stock valued at $123,102 in the last three months. 0.07% of the stock is currently owned by insiders.

Southern Copper Stock Performance

NYSE:SCCO opened at $117.93 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 5.27 and a quick ratio of 4.51. The business has a fifty day simple moving average of $100.10 and a two-hundred day simple moving average of $95.79. Southern Copper Corporation has a 1 year low of $74.84 and a 1 year high of $121.49. The company has a market capitalization of $94.82 billion, a P/E ratio of 25.80, a P/E/G ratio of 1.76 and a beta of 0.99.

Southern Copper Increases Dividend

The business also recently declared 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 3.4%. This is a boost from Southern Copper’s previous quarterly dividend of $0.62. The ex-dividend date was Friday, August 15th. Southern Copper’s dividend payout ratio (DPR) is presently 70.02%.

Southern Copper 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.