Southern Copper Corporation $SCCO Shares Sold by Public Sector Pension Investment Board

Public Sector Pension Investment Board cut its holdings in Southern Copper Corporation (NYSE:SCCO) by 28.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 93,020 shares of the basic materials company’s stock after selling 36,867 shares during the quarter. Public Sector Pension Investment Board’s holdings in Southern Copper were worth $11,289,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. MJT & Associates Financial Advisory Group Inc. grew its stake in shares of Southern Copper by 65.1% in the 3rd quarter. MJT & Associates Financial Advisory Group Inc. now owns 213 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 84 shares during the last quarter. Covestor Ltd boosted its holdings in Southern Copper by 30.4% during the third quarter. Covestor Ltd now owns 360 shares of the basic materials company’s stock worth $44,000 after buying an additional 84 shares in the last quarter. Avanza Fonder AB grew its position in Southern Copper by 1.0% in the third quarter. Avanza Fonder AB now owns 8,663 shares of the basic materials company’s stock worth $1,051,000 after buying an additional 86 shares during the last quarter. Redwood Wealth Management Group LLC increased its holdings in shares of Southern Copper by 1.5% in the third quarter. Redwood Wealth Management Group LLC now owns 5,999 shares of the basic materials company’s stock valued at $728,000 after buying an additional 89 shares in the last quarter. Finally, Convergence Investment Partners LLC lifted its position in shares of Southern Copper by 0.7% during the 3rd quarter. Convergence Investment Partners LLC now owns 13,743 shares of the basic materials company’s stock valued at $1,668,000 after acquiring an additional 98 shares during the last quarter. Institutional investors own 7.94% of the company’s stock.

Southern Copper Trading Up 0.1%

Southern Copper stock opened at $198.03 on Monday. Southern Copper Corporation has a 12 month low of $74.84 and a 12 month high of $218.81. The company has a quick ratio of 3.91, a current ratio of 4.52 and a debt-to-equity ratio of 0.64. The stock has a market cap of $160.84 billion, a P/E ratio of 37.22, a P/E/G ratio of 1.63 and a beta of 1.06. The company’s fifty day simple moving average is $168.45 and its 200-day simple moving average is $134.95.

Southern Copper Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Tuesday, February 10th will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Tuesday, February 10th. This is a positive change from Southern Copper’s previous quarterly dividend of $0.90. Southern Copper’s dividend payout ratio (DPR) is presently 75.19%.

Insider Activity at Southern Copper

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 403 shares of the business’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $137.83, for a total value of $55,544.87. Following the completion of the sale, the director directly owned 1,275 shares of the company’s stock, valued at $175,731.28. The trade was a 24.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Lerdo De Tejada Leon Contreras sold 9,326 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $209.56, for a total transaction of $1,954,344.91. Following the transaction, the director owned 605 shares in the company, valued at $126,783.04. This represents a 93.91% decrease in their position. The SEC filing for this sale provides additional information. 0.07% of the stock is currently owned by company insiders.

Analyst Ratings Changes

SCCO has been the topic of a number of recent analyst reports. Wells Fargo & Company set a $190.38 target price on Southern Copper and gave the stock an “equal weight” rating in a research report on Thursday, January 29th. The Goldman Sachs Group reissued a “sell” rating and issued a $127.91 price target on shares of Southern Copper in a research note on Wednesday, January 14th. UBS Group reaffirmed a “sell” rating and set a $148.74 price objective (up from $146.75) on shares of Southern Copper in a research note on Tuesday, February 3rd. Scotiabank reissued an “underperform” rating on shares of Southern Copper in a research report on Tuesday, January 27th. Finally, Wall Street Zen lowered shares of Southern Copper from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and seven have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $136.49.

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.