Natixis Advisors LLC decreased its holdings in Southern Copper Corporation (NYSE:SCCO – Free Report) by 15.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,881 shares of the basic materials company’s stock after selling 3,601 shares during the quarter. Natixis Advisors LLC’s holdings in Southern Copper were worth $2,852,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Intech Investment Management LLC grew its holdings in Southern Copper by 0.8% in the 4th quarter. Intech Investment Management LLC now owns 6,030 shares of the basic materials company’s stock valued at $865,000 after buying an additional 50 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al grew its holdings in Southern Copper by 0.8% in the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 6,072 shares of the basic materials company’s stock valued at $871,000 after buying an additional 51 shares during the period. Steel Grove Capital Advisors LLC grew its holdings in Southern Copper by 1.8% in the 4th quarter. Steel Grove Capital Advisors LLC now owns 2,910 shares of the basic materials company’s stock valued at $417,000 after buying an additional 52 shares during the period. Centerstone Investors LLC grew its holdings in Southern Copper by 0.9% in the 4th quarter. Centerstone Investors LLC now owns 6,998 shares of the basic materials company’s stock valued at $1,004,000 after buying an additional 59 shares during the period. Finally, ORG Partners LLC grew its holdings in Southern Copper by 1.3% in the 4th quarter. ORG Partners LLC now owns 4,813 shares of the basic materials company’s stock valued at $691,000 after buying an additional 60 shares during the period. Hedge funds and other institutional investors own 7.94% of the company’s stock.
Analysts Set New Price Targets
Several research firms have commented on SCCO. Weiss Ratings restated a “buy (b)” rating on shares of Southern Copper in a report on Friday, March 27th. Scotiabank reiterated an “underperform” rating and set a $135.00 target price (up from $133.00) on shares of Southern Copper in a report on Friday, May 15th. Barclays started coverage on Southern Copper in a report on Thursday, May 21st. They set an “underweight” rating and a $148.00 target price for the company. The Goldman Sachs Group upgraded Southern Copper from a “sell” rating to a “neutral” rating and set a $178.00 target price for the company in a report on Friday, April 10th. Finally, Bank of America cut Southern Copper from a “neutral” rating to an “underperform” rating and boosted their target price for the stock from $162.00 to $175.00 in a report on Thursday, February 26th. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and eight have given a Sell rating to the stock. According to data from MarketBeat, Southern Copper has an average rating of “Reduce” and an average price target of $145.14.
Insiders Place Their Bets
In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 200 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $177.82, for a total value of $35,564.00. Following the completion of the transaction, the director owned 1,807 shares in the company, valued at $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 available through the SEC website. In the last three months, insiders sold 604 shares of company stock valued at $109,136. 0.07% of the stock is owned by corporate insiders.
Southern Copper Stock Up 2.6%
Shares of NYSE:SCCO opened at $174.97 on Wednesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.89 and a current ratio of 4.38. Southern Copper Corporation has a 1 year low of $88.73 and a 1 year high of $223.88. The stock has a market capitalization of $143.32 billion, a P/E ratio of 28.92, a PEG ratio of 1.61 and a beta of 1.09. The stock has a 50-day simple moving average of $182.77 and a 200-day simple moving average of $174.34.
Southern Copper (NYSE:SCCO – Get Free Report) last issued its earnings results on Wednesday, April 29th. The basic materials company reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.04. Southern Copper had a return on equity of 45.63% and a net margin of 34.13%.The business had revenue of $4.25 billion during the quarter, compared to analysts’ expectations of $3.96 billion. Equities analysts forecast that Southern Copper Corporation will post 7.25 earnings per share for the current year.
Southern Copper Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Wednesday, May 13th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Wednesday, May 13th. Southern Copper’s dividend payout ratio is currently 66.12%.
Southern Copper Company Profile
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.
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