Southern Copper Corporation $SCCO Shares Sold by Ramirez Asset Management Inc.

Ramirez Asset Management Inc. cut its holdings in shares of Southern Copper Corporation (NYSE:SCCO) by 38.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,931 shares of the basic materials company’s stock after selling 17,023 shares during the period. Ramirez Asset Management Inc.’s holdings in Southern Copper were worth $3,864,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Lloyd Advisory Services LLC. acquired a new stake in shares of Southern Copper during the fourth quarter valued at about $29,000. Godfrey Financial Associates Inc. acquired a new stake in shares of Southern Copper during the fourth quarter valued at about $30,000. Hopwood Financial Services Inc. acquired a new stake in shares of Southern Copper during the third quarter valued at about $25,000. IFP Advisors Inc grew its stake in shares of 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 acquiring an additional 161 shares in the last quarter. Finally, Caitlin John LLC acquired a new stake in shares of Southern Copper during the third quarter valued at about $30,000. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Southern Copper Stock Performance

Shares of SCCO stock opened at $173.41 on Friday. 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 Corporation has a one year low of $88.73 and a one year high of $223.88. The company’s 50-day simple moving average is $182.30 and its 200-day simple moving average is $173.32. The stock has a market capitalization of $142.04 billion, a price-to-earnings ratio of 28.66, a PEG ratio of 1.63 and a beta of 1.09.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $1.92 EPS for the quarter, topping the consensus estimate of $1.88 by $0.04. Southern Copper had a net margin of 34.13% and a return on equity of 45.63%. The business had revenue of $4.25 billion for the quarter, compared to analysts’ expectations of $3.96 billion. Equities analysts anticipate that Southern Copper Corporation will post 7.25 earnings per share for the current fiscal year.

Southern Copper Dividend Announcement

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

Insider Activity at Southern Copper

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 200 shares of the firm’s stock in a transaction dated 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 $321,320.74. This trade represents a 9.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 604 shares of company stock worth $109,136 over the last quarter. Company insiders own 0.07% of the company’s stock.

Analysts Set New Price Targets

SCCO has been the subject of several recent analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Southern Copper in a research note on Friday, March 27th. Barclays initiated coverage on Southern Copper in a research note on Thursday, May 21st. They set an “underweight” rating and a $148.00 target price for the company. Morgan Stanley increased their price target on shares of Southern Copper from $155.00 to $160.00 and gave the stock an “underweight” rating in a research report on Thursday, April 9th. Wells Fargo & Company set a $171.00 price target on shares of Southern Copper and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Finally, Wall Street Zen cut shares of Southern Copper from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and eight have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $145.14.

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.