Ashoka WhiteOak Capital Pte Ltd Trims Stock Holdings in Southern Copper Corporation $SCCO

Ashoka WhiteOak Capital Pte Ltd cut its holdings in shares of Southern Copper Corporation (NYSE:SCCO) by 23.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,668 shares of the basic materials company’s stock after selling 8,861 shares during the period. Southern Copper accounts for about 1.9% of Ashoka WhiteOak Capital Pte Ltd’s holdings, making the stock its 11th biggest position. Ashoka WhiteOak Capital Pte Ltd’s holdings in Southern Copper were worth $4,933,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. SHP Wealth Management acquired a new stake in shares of Southern Copper during the fourth quarter worth about $25,000. Lloyd Advisory Services LLC. acquired a new position in Southern Copper in the 4th quarter valued at about $29,000. Virtus Advisers LLC acquired a new position in Southern Copper in the 4th quarter valued at about $29,000. Caitlin John LLC purchased a new stake in Southern Copper during the 3rd quarter valued at approximately $30,000. Finally, Godfrey Financial Associates Inc. acquired a new stake in Southern Copper during the 4th quarter worth approximately $30,000. 7.94% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Southern Copper

In related news, Director Bonilla Luis Miguel Palomino sold 200 shares of Southern Copper 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 sale, the director directly owned 1,807 shares in the company, valued at $321,320.74. The trade was a 9.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 404 shares of company stock valued at $74,108 in the last quarter. 0.07% of the stock is owned by insiders.

Southern Copper Price Performance

Shares of NYSE:SCCO opened at $171.71 on Thursday. Southern Copper Corporation has a 52 week low of $88.73 and a 52 week high of $223.88. The company has a 50-day moving average price of $184.07 and a 200 day moving average price of $178.63. The company has a market cap of $141.85 billion, a P/E ratio of 28.38, a PEG ratio of 1.60 and a beta of 1.09. The company has a quick ratio of 3.89, a current ratio of 4.38 and a debt-to-equity ratio of 0.57.

Southern Copper Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders 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 of this dividend was Wednesday, May 13th. Southern Copper’s dividend payout ratio (DPR) is currently 66.12%.

Analyst Ratings Changes

Several research analysts have weighed in on SCCO shares. JPMorgan Chase & Co. lifted their target price on Southern Copper from $127.00 to $131.50 and gave the company an “underweight” rating in a research note on Wednesday, June 17th. Wall Street Zen cut Southern Copper from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Southern Copper in a report on Friday, March 27th. The Goldman Sachs Group upgraded shares of Southern Copper from a “sell” rating to a “neutral” rating and set a $178.00 price objective on the stock in a research report on Friday, April 10th. Finally, Scotiabank reissued an “underperform” rating and issued a $140.00 price objective (up from $135.00) on shares of Southern Copper in a research note on Monday, June 15th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and eight have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $145.94.

Southern Copper 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.