Southern Copper Corporation $SCCO Shares Sold by Regal Partners Ltd

Regal Partners Ltd cut its stake in shares of Southern Copper Corporation (NYSE:SCCO) by 41.7% during the first quarter, Holdings Channel reports. The firm owned 62,992 shares of the basic materials company’s stock after selling 45,089 shares during the quarter. Regal Partners Ltd’s holdings in Southern Copper were worth $10,838,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Intech Investment Management LLC raised its holdings in Southern Copper by 0.8% during the 4th quarter. Intech Investment Management LLC now owns 6,030 shares of the basic materials company’s stock worth $865,000 after buying an additional 50 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al increased its position in shares of Southern Copper by 0.8% in the fourth quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 6,072 shares of the basic materials company’s stock worth $871,000 after acquiring an additional 51 shares in the last quarter. Steel Grove Capital Advisors LLC raised its holdings in shares of Southern Copper by 1.8% during the fourth quarter. Steel Grove Capital Advisors LLC now owns 2,910 shares of the basic materials company’s stock valued at $417,000 after acquiring an additional 52 shares during the period. Ensign Peak Advisors Inc lifted its position in shares of Southern Copper by 0.8% in the 4th quarter. Ensign Peak Advisors Inc now owns 6,379 shares of the basic materials company’s stock valued at $915,000 after acquiring an additional 53 shares in the last quarter. Finally, Venture Visionary Partners LLC lifted its position in shares of Southern Copper by 0.8% in the 4th quarter. Venture Visionary Partners LLC now owns 6,998 shares of the basic materials company’s stock valued at $1,004,000 after acquiring an additional 53 shares in the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Insider Buying and Selling

In related news, Director Bonilla Luis Miguel Palomino sold 200 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $177.82, for a total transaction of $35,564.00. Following the transaction, the director owned 1,807 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 504 shares of company stock valued at $92,008 in the last 90 days. Corporate insiders own 0.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Southern Copper from $127.00 to $131.50 and gave the stock an “underweight” rating in a research report on Wednesday, June 17th. Weiss Ratings lowered Southern Copper from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, July 8th. The Goldman Sachs Group raised Southern Copper from a “sell” rating to a “neutral” rating and set a $178.00 target price for the company in a research report on Friday, April 10th. Scotiabank reiterated an “underperform” rating and set a $140.00 price target (up from $135.00) on shares of Southern Copper in a report on Monday, June 15th. Finally, UBS Group reissued a “sell” rating and set a $160.00 price target (up from $145.00) on shares of Southern Copper in a research report on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have assigned a Hold rating and seven have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $148.60.

Southern Copper Stock Performance

Shares of NYSE SCCO opened at $179.25 on Wednesday. The business’s 50-day moving average price is $181.11 and its two-hundred day moving average price is $183.90. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.38 and a quick ratio of 3.89. Southern Copper Corporation has a one year low of $88.73 and a one year high of $223.88. The company has a market capitalization of $148.08 billion, a P/E ratio of 26.21, a price-to-earnings-growth ratio of 1.54 and a beta of 1.11.

Shares of Southern Copper are set to split on the morning of Tuesday, August 11th. The 1.012-1 split was recently announced. The newly created shares will be issued to shareholders after the closing bell on Monday, August 10th.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings results on Wednesday, July 22nd. The basic materials company reported $2.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $0.06. The company had revenue of $4.29 billion during the quarter, compared to the consensus estimate of $4.37 billion. Southern Copper had a return on equity of 50.74% and a net margin of 35.87%.Southern Copper’s revenue for the quarter was up 40.6% compared to the same quarter last year. Analysts anticipate that Southern Copper Corporation will post 7.63 earnings per share for the current fiscal year.

Southern Copper Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Tuesday, August 11th will be issued a $1.10 dividend. This is an increase from Southern Copper’s previous quarterly dividend of $1.00. This represents a $4.40 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Tuesday, August 11th. Southern Copper’s dividend payout ratio is currently 58.48%.

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.