Southern Copper Corporation $SCCO Stock Holdings Lowered by Sterling Capital Management LLC

Sterling Capital Management LLC lessened its position in Southern Copper Corporation (NYSE:SCCO) by 8.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 36,836 shares of the basic materials company’s stock after selling 3,363 shares during the period. Sterling Capital Management LLC’s holdings in Southern Copper were worth $6,338,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Southern Copper by 11.2% during the third quarter. Vanguard Group Inc. now owns 950,018 shares of the basic materials company’s stock worth $115,294,000 after buying an additional 96,013 shares during the period. National Wealth Management Group LLC bought a new position in Southern Copper in the 4th quarter worth approximately $1,281,000. Nordea Investment Management AB increased its position in 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 valued at $37,142,000 after acquiring an additional 109,857 shares during the period. Oak Harvest Investment Services acquired a new stake in Southern Copper in the 4th quarter valued at approximately $7,650,000. Finally, Savvy Advisors Inc. bought a new stake in Southern Copper during the 4th quarter valued at $1,434,000. 7.94% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SCCO has been the subject of a number of analyst reports. The Goldman Sachs Group upgraded Southern Copper from a “sell” rating to a “neutral” rating and set a $178.00 price target for the company in a research report on Friday, April 10th. UBS Group raised their price target on Southern Copper from $140.00 to $145.00 and gave the company a “sell” rating in a report on Thursday, May 21st. Scotiabank reaffirmed an “underperform” rating and issued a $140.00 price objective (up from $135.00) on shares of Southern Copper in a report on Monday, June 15th. Wells Fargo & Company set a $171.00 target price on shares of Southern Copper and gave the company an “equal weight” rating in a research report on Friday, May 1st. Finally, Barclays assumed coverage on shares of Southern Copper in a research note on Thursday, May 21st. They set an “underweight” rating and a $148.00 target price on the stock. Two investment 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. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $145.94.

Southern Copper Stock Performance

Shares of NYSE SCCO opened at $171.37 on Friday. Southern Copper Corporation has a 1 year low of $88.73 and a 1 year high of $223.88. The firm has a market cap of $141.57 billion, a P/E ratio of 28.33, a PEG ratio of 1.54 and a beta of 1.09. The stock has a fifty day moving average price of $183.33 and a two-hundred day moving average price of $178.82. 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 Announces Dividend

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

Insiders Place Their Bets

In related news, Director Bonilla Luis Miguel Palomino sold 200 shares of the firm’s stock in a transaction dated Thursday, May 21st. The stock was 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 of the company’s stock, valued at $321,320.74. This trade represents a 9.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold a total of 404 shares of company stock worth $74,108 over the last ninety days. Company insiders own 0.07% of the company’s stock.

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.