Southern Copper Corporation $SCCO Holdings Trimmed by Barings LLC

Barings LLC lowered its holdings in Southern Copper Corporation (NYSE:SCCO) by 43.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,037 shares of the basic materials company’s stock after selling 26,441 shares during the period. Barings LLC’s holdings in Southern Copper were worth $6,028,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. SHP Wealth Management acquired a new position in shares of Southern Copper in the 4th quarter valued at about $25,000. Lloyd Advisory Services LLC. purchased a new stake in shares of Southern Copper in the fourth quarter worth approximately $29,000. Virtus Advisers LLC acquired a new stake in shares of Southern Copper during the fourth quarter worth approximately $29,000. Godfrey Financial Associates Inc. purchased a new position in Southern Copper during the fourth quarter valued at approximately $30,000. Finally, IFP Advisors Inc grew its position in 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. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on SCCO shares. Wall Street Zen upgraded shares of Southern Copper from a “hold” rating to a “buy” rating in a research note on Saturday, June 27th. Zacks Research upgraded shares of Southern Copper from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 9th. The Goldman Sachs Group raised shares of Southern Copper from a “sell” rating to a “neutral” rating and set a $178.00 price target on the stock in a research note on Friday, April 10th. Scotiabank reiterated an “underperform” rating and set a $140.00 price objective (up from $135.00) on shares of Southern Copper in a report on Monday, June 15th. Finally, Weiss Ratings cut Southern Copper from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have assigned a Hold rating and seven have given a Sell rating to the company’s stock. Based on data from MarketBeat, Southern Copper presently has an average rating of “Reduce” and an average target price of $148.10.

Southern Copper Stock Down 3.1%

SCCO opened at $175.89 on Friday. The business has a 50 day moving average price of $181.30 and a 200 day moving average price of $182.06. Southern Copper Corporation has a twelve month low of $88.73 and a twelve month high of $223.88. 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 firm has a market cap of $145.30 billion, a P/E ratio of 29.07, a price-to-earnings-growth ratio of 1.55 and a beta of 1.11.

Southern Copper Dividend Announcement

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 $1.00 dividend. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.3%. Southern Copper’s dividend payout ratio (DPR) is currently 66.12%.

Insider Buying and Selling at Southern Copper

In related 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 transaction of $35,564.00. Following the completion of the sale, the director directly owned 1,807 shares of the company’s stock, valued at approximately $321,320.74. This represents a 9.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 404 shares of company stock valued at $74,108 in the last ninety days. 0.07% of the stock is currently owned by insiders.

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.