Capital World Investors Lowers Stock Position in Southern Copper Corporation $SCCO

Capital World Investors reduced its stake in shares of Southern Copper Corporation (NYSE:SCCO) by 0.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,378,267 shares of the basic materials company’s stock after selling 59,341 shares during the period. Capital World Investors owned 0.79% of Southern Copper worth $915,090,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Hopwood Financial Services Inc. purchased a new position in Southern Copper in the 3rd quarter worth approximately $25,000. Lloyd Advisory Services LLC. purchased a new position in Southern Copper in the 4th quarter worth approximately $29,000. Caitlin John LLC purchased a new position in Southern Copper in the 3rd quarter worth approximately $30,000. Godfrey Financial Associates Inc. purchased a new position in Southern Copper in the 4th quarter worth approximately $30,000. Finally, IFP Advisors Inc lifted its holdings in Southern Copper by 233.3% in the 4th quarter. IFP Advisors Inc now owns 230 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 161 shares in the last quarter. 7.94% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 200 shares of the company’s stock in a transaction 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 transaction, the director owned 1,807 shares of the company’s stock, valued at $321,320.74. This represents a 9.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last 90 days, insiders sold 604 shares of company stock valued at $109,136. Corporate insiders own 0.07% of the company’s stock.

Southern Copper Stock Performance

NYSE:SCCO opened at $173.41 on Monday. The stock’s fifty day moving average is $182.30 and its 200 day moving average is $173.65. Southern Copper Corporation has a fifty-two week low of $88.73 and a fifty-two week high of $223.88. The firm has a market capitalization of $142.04 billion, a PE ratio of 28.66, a PEG ratio of 1.63 and a beta of 1.09. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.89 and a current ratio of 4.38.

Southern Copper (NYSE:SCCO) last released its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.04. Southern Copper had a return on equity of 45.63% and a net margin of 34.13%.The company had revenue of $4.25 billion for the quarter, compared to analyst estimates of $3.96 billion. On average, sell-side analysts anticipate that Southern Copper Corporation will post 7.25 earnings per share for the current year.

Southern Copper Dividend Announcement

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

Analysts Set New Price Targets

SCCO has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their price target on Southern Copper from $117.50 to $127.00 and gave the stock an “underweight” rating in a report on Friday, April 10th. Scotiabank reissued an “underperform” rating and issued a $135.00 price target (up from $133.00) on shares of Southern Copper in a report on Friday, May 15th. The Goldman Sachs Group raised Southern Copper from a “sell” rating to a “neutral” rating and set a $178.00 price target on the stock in a report on Friday, April 10th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Southern Copper in a research note on Friday, March 27th. Finally, 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. Two equities research 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. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $145.14.

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.