Shell Asset Management Co. Has $804,000 Stake in Southern Copper Corp (SCCO)

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Shell Asset Management Co. cut its stake in shares of Southern Copper Corp (NYSE:SCCO) by 30.2% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,626 shares of the basic materials company’s stock after selling 8,069 shares during the period. Shell Asset Management Co.’s holdings in Southern Copper were worth $804,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in SCCO. Credit Suisse AG lifted its stake in Southern Copper by 3.0% in the third quarter. Credit Suisse AG now owns 256,693 shares of the basic materials company’s stock valued at $11,074,000 after acquiring an additional 7,514 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of Southern Copper by 1,989.8% in the third quarter. Canada Pension Plan Investment Board now owns 13,918 shares of the basic materials company’s stock worth $600,000 after buying an additional 13,252 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Southern Copper by 2.5% in the third quarter. BlackRock Inc. now owns 6,266,845 shares of the basic materials company’s stock worth $270,352,000 after buying an additional 150,890 shares during the last quarter. Capital Growth Management LP lifted its stake in shares of Southern Copper by 2.2% in the third quarter. Capital Growth Management LP now owns 945,000 shares of the basic materials company’s stock worth $40,767,000 after buying an additional 20,000 shares during the last quarter. Finally, Twin Tree Management LP lifted its stake in shares of Southern Copper by 151.8% in the third quarter. Twin Tree Management LP now owns 21,287 shares of the basic materials company’s stock worth $918,000 after buying an additional 12,833 shares during the last quarter. 7.32% of the stock is currently owned by hedge funds and other institutional investors.

Shares of SCCO stock opened at $32.81 on Thursday. Southern Copper Corp has a 1 year low of $31.17 and a 1 year high of $58.09. The firm has a market cap of $25.36 billion, a P/E ratio of 21.31 and a beta of 0.69. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.88 and a current ratio of 2.71.

Southern Copper (NYSE:SCCO) last announced its earnings results on Wednesday, October 24th. The basic materials company reported $0.48 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.02). Southern Copper had a return on equity of 14.97% and a net margin of 13.24%. The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.80 billion. Analysts predict that Southern Copper Corp will post 2.18 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 21st. Investors of record on Wednesday, November 7th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 4.88%. The ex-dividend date of this dividend was Tuesday, November 6th.

A number of analysts have recently weighed in on SCCO shares. UBS Group upgraded shares of Southern Copper from a “neutral” rating to a “buy” rating and set a $46.00 price objective for the company in a research note on Friday, November 2nd. Santander lowered shares of Southern Copper from a “buy” rating to a “hold” rating in a research report on Tuesday, October 16th. Citigroup lowered shares of Southern Copper from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $43.00 to $33.00 in a research report on Monday, November 12th. B. Riley dropped their target price on shares of Southern Copper from $55.00 to $49.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 19th. Finally, HSBC lowered shares of Southern Copper from a “hold” rating to a “reduce” rating in a research report on Monday, November 26th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $42.26.

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Southern Copper Profile

Southern Copper Corporation engages in mining, exploring, smelting, and refining copper and other minerals in Peru, Mexico, Argentina, Chile, and Ecuador. The company is involved in the mining, milling, and flotation of copper ore to produce copper and molybdenum concentrates; smelting of copper concentrates to produce blister and anode copper; refining of anode copper to produce copper cathodes; production of molybdenum concentrate and sulfuric acid; production of refined silver, gold, and other materials; and mining and processing of zinc and lead.

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Institutional Ownership by Quarter for Southern Copper (NYSE:SCCO)

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