Hsbc Holdings PLC Has $23.53 Million Stock Holdings in Southern Copper Corporation $SCCO

Hsbc Holdings PLC trimmed its holdings in shares of Southern Copper Corporation (NYSE:SCCO) by 29.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 163,975 shares of the basic materials company’s stock after selling 69,913 shares during the quarter. Hsbc Holdings PLC’s holdings in Southern Copper were worth $23,529,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SHP Wealth Management bought a new position in shares of Southern Copper during the fourth quarter valued at $25,000. Lloyd Advisory Services LLC. bought a new stake in shares of Southern Copper in the fourth quarter worth $29,000. Virtus Advisers LLC bought a new stake in shares of Southern Copper in the fourth quarter worth $29,000. Godfrey Financial Associates Inc. acquired a new stake in Southern Copper in the fourth quarter valued at $30,000. Finally, IFP Advisors Inc increased its holdings in Southern Copper by 233.3% in the fourth quarter. IFP Advisors Inc now owns 230 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 161 shares during the period. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Bonilla Luis Miguel Palomino sold 200 shares of Southern Copper stock in a transaction dated 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 directly owned 1,807 shares of the company’s stock, valued at approximately $321,320.74. This trade represents a 9.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last three months, insiders sold 404 shares of company stock worth $74,108. Company insiders own 0.07% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on SCCO. Wall Street Zen lowered Southern Copper from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Scotiabank reiterated an “underperform” rating and issued a $140.00 price target (up from $135.00) on shares of Southern Copper in a research report on Monday, June 15th. Barclays assumed coverage on Southern Copper in a research note on Thursday, May 21st. They issued an “underweight” rating and a $148.00 price target for the company. UBS Group lifted their price objective on Southern Copper from $140.00 to $145.00 and gave the stock a “sell” rating in a research note on Thursday, May 21st. Finally, Wells Fargo & Company set a $171.00 price objective on Southern Copper and gave the stock an “equal weight” rating in a research note on Friday, May 1st. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and eight have given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $145.94.

Southern Copper Price Performance

Shares of NYSE SCCO opened at $171.71 on Thursday. Southern Copper Corporation has a twelve month low of $88.73 and a twelve month high of $223.88. The firm has a fifty day simple moving average of $184.07 and a 200 day simple moving average of $178.63. The company has a market capitalization of $141.85 billion, a PE ratio of 28.38, a P/E/G 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Wednesday, May 13th were issued a dividend of $1.00 per share. 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 (DPR) is presently 66.12%.

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.