Sumitomo Mitsui Trust Group Inc. Sells 5,235 Shares of Southern Copper Corporation $SCCO

Sumitomo Mitsui Trust Group Inc. decreased its position in Southern Copper Corporation (NYSE:SCCO) by 2.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 219,288 shares of the basic materials company’s stock after selling 5,235 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Southern Copper were worth $37,731,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. National Wealth Management Group LLC purchased a new position in Southern Copper during the 4th quarter valued at about $1,281,000. Nordea Investment Management AB lifted its position in shares of Southern Copper by 74.0% in the 4th quarter. Nordea Investment Management AB now owns 258,341 shares of the basic materials company’s stock worth $37,142,000 after purchasing an additional 109,857 shares during the period. Oak Harvest Investment Services bought a new position in shares of Southern Copper during the fourth quarter valued at approximately $7,650,000. Savvy Advisors Inc. purchased a new position in Southern Copper during the fourth quarter valued at approximately $1,434,000. Finally, US Bancorp DE increased its holdings in Southern Copper by 16.2% during the fourth quarter. US Bancorp DE now owns 74,484 shares of the basic materials company’s stock valued at $10,687,000 after buying an additional 10,360 shares during the period. 7.94% of the stock is owned by institutional investors.

Southern Copper Stock Performance

Shares of SCCO opened at $175.99 on Monday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.89 and a current ratio of 4.38. The stock has a 50-day moving average of $181.14 and a two-hundred day moving average of $181.17. The stock has a market cap of $145.38 billion, a P/E ratio of 29.09, a P/E/G ratio of 1.54 and a beta of 1.11. Southern Copper Corporation has a one year low of $88.73 and a one year high of $223.88.

Southern Copper Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Wednesday, May 13th were given a $1.00 dividend. The ex-dividend date was Wednesday, May 13th. This represents a $4.00 dividend on an annualized basis and a yield of 2.3%. Southern Copper’s dividend payout ratio is currently 66.12%.

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 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 filing with the SEC, which can be accessed through this link. In the last 90 days, insiders have sold 404 shares of company stock valued at $74,108. 0.07% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Wells Fargo & Company upped their target price on Southern Copper from $171.00 to $172.00 and gave the stock an “equal weight” rating in a report on Thursday. UBS Group reissued a “sell” rating and issued a $160.00 price target (up from $145.00) on shares of Southern Copper in a research report on Tuesday, June 30th. The Goldman Sachs Group raised 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. Zacks Research raised shares of Southern Copper from a “hold” rating to a “strong-buy” rating in a research report on Thursday. Finally, Scotiabank restated an “underperform” rating and issued a $140.00 price target (up from $135.00) on shares of Southern Copper in a report on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have assigned a Hold rating and eight have given a Sell rating to the stock. According to data from MarketBeat.com, Southern Copper has a consensus rating of “Reduce” and a consensus target price of $147.10.

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.