13,414 Shares in Southern Copper Corporation $SCCO Acquired by Calamos Wealth Management LLC

Calamos Wealth Management LLC acquired a new position in shares of Southern Copper Corporation (NYSE:SCCO) during the first quarter, Holdings Channel.com reports. The institutional investor acquired 13,414 shares of the basic materials company’s stock, valued at approximately $2,308,000.

Several other large investors also recently added to or reduced their stakes in SCCO. National Wealth Management Group LLC purchased a new stake in shares of Southern Copper during the 4th quarter valued at approximately $1,281,000. Nordea Investment Management AB grew its position in Southern Copper by 74.0% in the fourth quarter. Nordea Investment Management AB now owns 258,341 shares of the basic materials company’s stock worth $37,142,000 after acquiring an additional 109,857 shares during the period. Oak Harvest Investment Services purchased a new position in Southern Copper in the fourth quarter worth approximately $7,650,000. Savvy Advisors Inc. acquired a new stake in Southern Copper during the fourth quarter worth $1,434,000. Finally, US Bancorp DE increased its stake in 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 acquiring an additional 10,360 shares during the last quarter. 7.94% of the stock is currently owned by hedge funds and other institutional investors.

Southern Copper Stock Down 0.6%

NYSE:SCCO opened at $174.69 on Tuesday. The company has a quick ratio of 3.89, a current ratio of 4.38 and a debt-to-equity ratio of 0.57. The stock’s fifty day moving average is $181.20 and its two-hundred day moving average is $181.37. Southern Copper Corporation has a 52 week low of $88.73 and a 52 week high of $223.88. The stock has a market capitalization of $144.31 billion, a price-to-earnings ratio of 28.87, a price-to-earnings-growth ratio of 1.54 and a beta of 1.11.

Southern Copper Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Wednesday, May 13th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Wednesday, May 13th. Southern Copper’s payout ratio is currently 66.12%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Wells Fargo & Company lifted their target price on Southern Copper from $171.00 to $172.00 and gave the company an “equal weight” rating in a research report on Thursday, July 9th. Weiss Ratings downgraded Southern Copper from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, July 8th. UBS Group restated a “sell” rating and issued a $160.00 price objective (up from $145.00) on shares of Southern Copper in a report on Tuesday, June 30th. Scotiabank reaffirmed an “underperform” rating and issued a $140.00 target price (up from $135.00) on shares of Southern Copper in a research report on Monday, June 15th. Finally, Morgan Stanley increased their target price on shares of Southern Copper from $146.00 to $158.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have given a Hold rating and eight have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $147.10.

Insider Transactions at Southern Copper

In related news, Director Bonilla Luis Miguel Palomino sold 200 shares of the stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $177.82, for a total transaction of $35,564.00. Following the transaction, the director owned 1,807 shares of the company’s stock, valued at approximately $321,320.74. This represents a 9.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders sold 404 shares of company stock worth $74,108. 0.07% of the stock is currently owned by corporate insiders.

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.