D.B. Root & Company LLC Sells 583 Shares of Southern Copper Corporation $SCCO

D.B. Root & Company LLC reduced its stake in Southern Copper Corporation (NYSE:SCCO) by 7.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,939 shares of the basic materials company’s stock after selling 583 shares during the period. D.B. Root & Company LLC’s holdings in Southern Copper were worth $702,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Generali Investments CEE investicni spolecnost a.s. raised its holdings in Southern Copper by 0.7% in the 1st quarter. Generali Investments CEE investicni spolecnost a.s. now owns 15,077 shares of the basic materials company’s stock valued at $1,409,000 after acquiring an additional 108 shares in the last quarter. American Financial Advisors LLC increased its position in shares of Southern Copper by 1.1% in the second quarter. American Financial Advisors LLC now owns 10,422 shares of the basic materials company’s stock worth $1,054,000 after purchasing an additional 112 shares during the period. IFM Investors Pty Ltd raised its stake in Southern Copper by 1.0% in the second quarter. IFM Investors Pty Ltd now owns 12,725 shares of the basic materials company’s stock valued at $1,287,000 after purchasing an additional 124 shares in the last quarter. Zurich Insurance Group Ltd FI raised its stake in Southern Copper by 0.7% in the first quarter. Zurich Insurance Group Ltd FI now owns 17,331 shares of the basic materials company’s stock valued at $1,620,000 after purchasing an additional 125 shares in the last quarter. Finally, Balefire LLC lifted its position in Southern Copper by 3.0% during the first quarter. Balefire LLC now owns 4,779 shares of the basic materials company’s stock worth $447,000 after purchasing an additional 141 shares during the period. Institutional investors and hedge funds own 7.94% of the company’s stock.

Insider Buying and Selling at Southern Copper

In related news, Director Bonilla Luis Miguel Palomino sold 414 shares of the business’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $100.00, for a total transaction of $41,400.00. Following the sale, the director owned 2,327 shares in the company, valued at $232,700. The trade was a 15.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last 90 days, insiders sold 1,228 shares of company stock worth $123,102. Company insiders own 0.07% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on SCCO. Weiss Ratings reissued a “buy (b-)” rating on shares of Southern Copper in a report on Saturday, September 27th. UBS Group reiterated a “buy” rating on shares of Southern Copper in a research report on Friday, September 19th. Itau BBA Securities upgraded shares of Southern Copper from an “underperform” rating to a “market perform” rating in a research report on Wednesday, June 11th. Morgan Stanley restated an “underweight” rating and set a $99.00 target price (up from $86.00) on shares of Southern Copper in a research note on Tuesday, July 15th. Finally, The Goldman Sachs Group set a $89.00 price target on Southern Copper and gave the company a “sell” rating in a research note on Wednesday, September 17th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $92.40.

Southern Copper Price Performance

SCCO stock opened at $128.46 on Monday. The stock has a market cap of $103.29 billion, a price-to-earnings ratio of 28.11, a P/E/G ratio of 1.31 and a beta of 1.02. 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 company has a 50 day simple moving average of $102.99 and a 200 day simple moving average of $96.94. Southern Copper Corporation has a 1 year low of $74.84 and a 1 year high of $129.83.

Southern Copper Increases Dividend

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

About Southern Copper

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.