Southern Copper Co. (NYSE:SCCO) Shares Acquired by DNB Asset Management AS

DNB Asset Management AS increased its position in Southern Copper Co. (NYSE:SCCO) by 3.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,936 shares of the basic materials company’s stock after buying an additional 612 shares during the quarter. DNB Asset Management AS’s holdings in Southern Copper were worth $2,148,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Nilsine Partners LLC lifted its stake in Southern Copper by 1.9% during the first quarter. Nilsine Partners LLC now owns 5,719 shares of the basic materials company’s stock valued at $609,000 after purchasing an additional 109 shares during the last quarter. Wahed Invest LLC grew its position in Southern Copper by 9.0% during the 4th quarter. Wahed Invest LLC now owns 1,451 shares of the basic materials company’s stock worth $125,000 after purchasing an additional 120 shares in the last quarter. Janiczek Wealth Management LLC lifted its holdings in shares of Southern Copper by 11.5% in the fourth quarter. Janiczek Wealth Management LLC now owns 1,227 shares of the basic materials company’s stock valued at $106,000 after purchasing an additional 127 shares in the last quarter. CWM LLC boosted its position in shares of Southern Copper by 3.3% in the fourth quarter. CWM LLC now owns 4,329 shares of the basic materials company’s stock worth $373,000 after buying an additional 137 shares during the period. Finally, First National Trust Co grew its holdings in shares of Southern Copper by 0.4% during the fourth quarter. First National Trust Co now owns 37,134 shares of the basic materials company’s stock valued at $3,196,000 after buying an additional 150 shares in the last quarter. Institutional investors own 7.94% of the company’s stock.

Southern Copper Stock Performance

Shares of Southern Copper stock traded up $1.66 during midday trading on Tuesday, hitting $99.13. The company had a trading volume of 1,282,944 shares, compared to its average volume of 1,203,324. Southern Copper Co. has a 1-year low of $68.93 and a 1-year high of $129.79. The business’s 50 day simple moving average is $109.68 and its two-hundred day simple moving average is $103.47. The stock has a market cap of $77.44 billion, a PE ratio of 33.24, a P/E/G ratio of 1.04 and a beta of 1.20. The company has a debt-to-equity ratio of 0.82, a current ratio of 3.31 and a quick ratio of 2.56.

Southern Copper Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 26th. Stockholders of record on Friday, August 9th will be issued a dividend of $0.60 per share. The ex-dividend date is Friday, August 9th. This represents a $2.40 annualized dividend and a dividend yield of 2.42%. Southern Copper’s payout ratio is 79.73%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. UBS Group began coverage on Southern Copper in a research note on Friday, July 12th. They set a “neutral” rating and a $120.00 target price on the stock. Morgan Stanley lifted their price objective on Southern Copper from $81.70 to $100.00 and gave the company an “underweight” rating in a research report on Friday, June 21st. Scotiabank dropped their target price on Southern Copper from $55.00 to $54.00 and set a “sector underperform” rating on the stock in a research report on Tuesday, May 21st. CICC Research started coverage on Southern Copper in a research note on Wednesday, April 24th. They issued an “outperform” rating for the company. Finally, StockNews.com raised shares of Southern Copper from a “hold” rating to a “buy” rating in a research report on Wednesday, May 15th. Five research analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $89.57.

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.