SG Americas Securities LLC Sells 90,824 Shares of Southern Copper Corporation $SCCO

SG Americas Securities LLC cut its holdings in shares of Southern Copper Corporation (NYSE:SCCO) by 94.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,311 shares of the basic materials company’s stock after selling 90,824 shares during the quarter. SG Americas Securities LLC’s holdings in Southern Copper were worth $914,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SCCO. Triad Wealth Partners LLC increased its stake in shares of Southern Copper by 9.9% in the first quarter. Triad Wealth Partners LLC now owns 2,741 shares of the basic materials company’s stock worth $472,000 after purchasing an additional 248 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its position in shares of Southern Copper by 15.0% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 56,027 shares of the basic materials company’s stock valued at $9,640,000 after purchasing an additional 7,305 shares during the period. Diversified Trust Co lifted its stake in shares of Southern Copper by 29.9% during the 1st quarter. Diversified Trust Co now owns 10,636 shares of the basic materials company’s stock valued at $1,830,000 after buying an additional 2,446 shares in the last quarter. McAlvany Wealth Management LLC purchased a new stake in shares of Southern Copper during the 4th quarter valued at approximately $1,810,000. Finally, Purpose Unlimited Inc. bought a new position in Southern Copper in the 4th quarter worth approximately $76,000. Institutional investors own 7.94% of the company’s stock.

Insider Activity at Southern Copper

In other news, Director Bonilla Luis Miguel Palomino sold 200 shares of the company’s stock in a transaction on Thursday, May 21st. The shares were 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 approximately $321,320.74. This represents a 9.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders have sold 404 shares of company stock worth $74,108. 0.07% of the stock is owned by insiders.

Southern Copper Price Performance

Shares of NYSE:SCCO opened at $171.73 on Monday. The company has a 50 day moving average of $181.53 and a 200 day moving average of $180.10. The company has a current ratio of 4.38, a quick ratio of 3.89 and a debt-to-equity ratio of 0.57. The stock has a market cap of $141.86 billion, a P/E ratio of 28.39, a P/E/G ratio of 1.55 and a beta of 1.11. Southern Copper Corporation has a 12 month low of $88.73 and a 12 month high of $223.88.

Southern Copper Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders 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 dividend yield of 2.3%. The ex-dividend date was Wednesday, May 13th. Southern Copper’s payout ratio is 66.12%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SCCO. UBS Group reiterated a “sell” rating and issued a $160.00 price objective (up from $145.00) on shares of Southern Copper in a research note on Tuesday, June 30th. JPMorgan Chase & Co. increased their target price on Southern Copper from $127.00 to $131.50 and gave the stock an “underweight” rating in a research report on Wednesday, June 17th. Morgan Stanley raised their price target on Southern Copper from $155.00 to $160.00 and gave the stock an “underweight” rating in a report on Thursday, April 9th. Weiss Ratings reiterated a “buy (b)” rating on shares of Southern Copper in a research report on Wednesday, June 24th. Finally, Scotiabank reiterated an “underperform” rating and set a $140.00 price objective (up from $135.00) on shares of Southern Copper in a research note on Monday, June 15th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and eight have given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $147.19.

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.