Deprince Race & Zollo Inc. Sells 18,619 Shares of Southern Copper Corporation $SCCO

Deprince Race & Zollo Inc. decreased its stake in shares of Southern Copper Corporation (NYSE:SCCO) by 27.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 49,688 shares of the basic materials company’s stock after selling 18,619 shares during the period. Deprince Race & Zollo Inc.’s holdings in Southern Copper were worth $8,549,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Royal Bank of Canada boosted its holdings in Southern Copper by 42.1% during the 1st quarter. Royal Bank of Canada now owns 44,879 shares of the basic materials company’s stock worth $4,194,000 after acquiring an additional 13,293 shares during the last quarter. Empowered Funds LLC raised its holdings in shares of Southern Copper by 17.9% in the first quarter. Empowered Funds LLC now owns 6,705 shares of the basic materials company’s stock valued at $627,000 after purchasing an additional 1,020 shares during the last quarter. Focus Partners Wealth raised its holdings in shares of Southern Copper by 21.5% in the first quarter. Focus Partners Wealth now owns 5,944 shares of the basic materials company’s stock valued at $556,000 after purchasing an additional 1,052 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Southern Copper by 37.4% during the second quarter. First Trust Advisors LP now owns 73,379 shares of the basic materials company’s stock valued at $7,424,000 after purchasing an additional 19,957 shares in the last quarter. Finally, Baird Financial Group Inc. lifted its position in shares of Southern Copper by 17.7% during the second quarter. Baird Financial Group Inc. now owns 4,864 shares of the basic materials company’s stock valued at $492,000 after purchasing an additional 731 shares in the last quarter. Institutional investors own 7.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SCCO. Barclays initiated coverage on shares of Southern Copper in a research report on Thursday, May 21st. They issued an “underweight” rating and a $148.00 price objective for the company. Scotiabank reissued an “underperform” rating and set a $140.00 target price (up from $135.00) on shares of Southern Copper in a research report on Monday, June 15th. JPMorgan Chase & Co. boosted their target price on Southern Copper from $127.00 to $131.50 and gave the stock an “underweight” rating in a research note on Wednesday, June 17th. Wall Street Zen raised Southern Copper from a “hold” rating to a “buy” rating in a report on Saturday, June 27th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Southern Copper in a report on Wednesday, June 24th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and eight have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $147.19.

Insider Transactions at Southern Copper

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 200 shares of the business’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $177.82, for a total transaction of $35,564.00. Following the sale, the director owned 1,807 shares of the company’s stock, valued at $321,320.74. The trade was a 9.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last quarter, insiders have sold 404 shares of company stock worth $74,108. Insiders own 0.07% of the company’s stock.

Southern Copper Stock Up 1.7%

SCCO opened at $171.73 on Friday. The company’s 50-day moving average price is $181.85 and its two-hundred day moving average price is $179.90. Southern Copper Corporation has a twelve month low of $88.73 and a twelve month high of $223.88. The stock has a market cap of $141.86 billion, a price-to-earnings ratio of 28.39, a PEG ratio of 1.52 and a beta of 1.11. 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 given a $1.00 dividend. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $4.00 annualized dividend and a dividend yield of 2.3%. Southern Copper’s payout ratio is 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.