IFM Investors Pty Ltd Has $2.14 Million Holdings in Southern Copper Corporation $SCCO

IFM Investors Pty Ltd trimmed its position in Southern Copper Corporation (NYSE:SCCO) by 21.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 12,463 shares of the basic materials company’s stock after selling 3,447 shares during the period. IFM Investors Pty Ltd’s holdings in Southern Copper were worth $2,144,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. SHP Wealth Management bought a new stake in Southern Copper during the 4th quarter worth $25,000. Lloyd Advisory Services LLC. bought a new position in Southern Copper in the fourth quarter valued at about $29,000. Virtus Advisers LLC bought a new position in Southern Copper in the fourth quarter valued at about $29,000. Godfrey Financial Associates Inc. acquired a new stake in shares of Southern Copper during the fourth quarter valued at about $30,000. Finally, IFP Advisors Inc boosted its stake in shares of Southern Copper by 233.3% during 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 in the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Insiders Place Their Bets

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 200 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director owned 1,807 shares in the company, valued at approximately $321,320.74. This trade represents a 9.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders have sold 404 shares of company stock worth $74,108. Corporate insiders own 0.07% of the company’s stock.

Southern Copper Price Performance

Shares of SCCO opened at $171.73 on Friday. Southern Copper Corporation has a 1 year low of $88.73 and a 1 year high of $223.88. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.38 and a quick ratio of 3.89. The company has a market capitalization of $141.86 billion, a price-to-earnings ratio of 28.39, a price-to-earnings-growth ratio of 1.55 and a beta of 1.11. The business has a 50-day moving average of $181.53 and a 200-day moving average of $179.84.

Southern Copper Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Wednesday, May 13th were given 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 of this dividend was Wednesday, May 13th. Southern Copper’s dividend payout ratio is currently 66.12%.

Analyst Ratings Changes

SCCO has been the subject of several recent research reports. The Goldman Sachs Group raised Southern Copper from a “sell” rating to a “neutral” rating and set a $178.00 price objective for the company in a research note on Friday, April 10th. Scotiabank reiterated 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. Barclays started coverage on shares of Southern Copper in a report on Thursday, May 21st. They set an “underweight” rating and a $148.00 target price on the stock. Wall Street Zen upgraded shares of Southern Copper from a “hold” rating to a “buy” rating in a research report on Saturday, June 27th. Finally, Wells Fargo & Company set a $171.00 price target on shares of Southern Copper and gave the company an “equal weight” rating in a research note on Friday, May 1st. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and eight have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Southern Copper has an average rating of “Reduce” and an average price target of $147.19.

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.