Capital World Investors Sells 59,341 Shares of Southern Copper Corporation $SCCO

Capital World Investors decreased its position in shares of Southern Copper Corporation (NYSE:SCCO) by 0.9% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 6,378,267 shares of the basic materials company’s stock after selling 59,341 shares during the quarter. Capital World Investors’ holdings in Southern Copper were worth $915,090,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Capital Research Global Investors purchased a new stake in shares of Southern Copper during the 4th quarter worth $81,039,000. Los Angeles Capital Management LLC lifted its stake in shares of Southern Copper by 13.3% during the 4th quarter. Los Angeles Capital Management LLC now owns 401,272 shares of the basic materials company’s stock worth $56,222,000 after purchasing an additional 47,142 shares during the last quarter. Modus Advisors LLC purchased a new stake in shares of Southern Copper during the 4th quarter worth $110,000. Vestcor Inc purchased a new stake in shares of Southern Copper during the 4th quarter worth $639,000. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of Southern Copper by 1.8% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 48,722 shares of the basic materials company’s stock worth $6,990,000 after purchasing an additional 864 shares during the last quarter. Institutional investors own 7.94% of the company’s stock.

Insider Buying and Selling

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 200 shares of Southern Copper stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $177.82, for a total value of $35,564.00. Following the sale, the director owned 1,807 shares in the company, valued at $321,320.74. The trade was a 9.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 604 shares of company stock valued at $109,136 in the last quarter. 0.07% of the stock is owned by insiders.

Southern Copper Stock Performance

Shares of NYSE:SCCO opened at $173.41 on Monday. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.38 and a quick ratio of 3.89. The business’s 50 day moving average price is $182.30 and its 200-day moving average price is $173.65. The firm has a market capitalization of $142.04 billion, a PE ratio of 28.66, a P/E/G ratio of 1.63 and a beta of 1.09. Southern Copper Corporation has a 1 year low of $88.73 and a 1 year high of $223.88.

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

Southern Copper Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Wednesday, May 13th were given a $1.00 dividend. The ex-dividend date was Wednesday, May 13th. This represents a $4.00 dividend on an annualized basis and a yield of 2.3%. Southern Copper’s payout ratio is currently 66.12%.

Analysts Set New Price Targets

A number of research firms have commented on SCCO. Scotiabank reiterated an “underperform” rating and issued a $135.00 price target (up from $133.00) on shares of Southern Copper in a research note on Friday, May 15th. Barclays assumed coverage on Southern Copper in a research note on Thursday, May 21st. They issued an “underweight” rating and a $148.00 price objective for the company. Weiss Ratings restated a “buy (b)” rating on shares of Southern Copper in a research note on Friday, March 27th. Wall Street Zen cut Southern Copper from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, JPMorgan Chase & Co. raised their target price on Southern Copper from $117.50 to $127.00 and gave the stock an “underweight” rating in a report on Friday, April 10th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and eight have issued a Sell rating to the company. According to MarketBeat, Southern Copper has a consensus rating of “Reduce” and an average price target of $145.14.

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.