Novem Group Sells 2,655 Shares of Southern Copper Corporation $SCCO

Novem Group lowered its stake in shares of Southern Copper Corporation (NYSE:SCCO) by 24.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,074 shares of the basic materials company’s stock after selling 2,655 shares during the quarter. Novem Group’s holdings in Southern Copper were worth $1,158,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. ORG Partners LLC grew its holdings in Southern Copper by 1.3% during the fourth quarter. ORG Partners LLC now owns 4,813 shares of the basic materials company’s stock worth $691,000 after buying an additional 60 shares in the last quarter. Nations Financial Group Inc. IA ADV grew its holdings in Southern Copper by 0.8% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 8,500 shares of the basic materials company’s stock worth $1,220,000 after buying an additional 71 shares in the last quarter. Avanza Fonder AB grew its holdings in Southern Copper by 0.8% during the fourth quarter. Avanza Fonder AB now owns 8,736 shares of the basic materials company’s stock worth $1,253,000 after buying an additional 73 shares in the last quarter. Valley Brook Capital Group Inc. grew its holdings in Southern Copper by 3.1% during the fourth quarter. Valley Brook Capital Group Inc. now owns 2,597 shares of the basic materials company’s stock worth $373,000 after buying an additional 79 shares in the last quarter. Finally, 180 Wealth Advisors LLC grew its holdings in Southern Copper by 1.8% during the fourth quarter. 180 Wealth Advisors LLC now owns 4,599 shares of the basic materials company’s stock worth $660,000 after buying an additional 83 shares in the last quarter. Institutional investors own 7.94% of the company’s stock.

Wall Street Analyst Weigh In

SCCO has been the subject of several recent research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Southern Copper in a report on Friday, March 27th. The Goldman Sachs Group upgraded Southern Copper from a “sell” rating to a “neutral” rating and set a $178.00 price target for the company in a report on Friday, April 10th. Wall Street Zen upgraded Southern Copper from a “hold” rating to a “buy” rating in a report on Saturday, March 21st. Morgan Stanley upped their price objective on Southern Copper from $155.00 to $160.00 and gave the company an “underweight” rating in a research note on Thursday, April 9th. Finally, JPMorgan Chase & Co. upped their price objective on Southern Copper from $117.50 to $127.00 and gave the company an “underweight” rating in a research note on Friday, April 10th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and seven have issued a Sell rating to the stock. According to data from MarketBeat, Southern Copper has an average rating of “Reduce” and an average price target of $144.79.

Southern Copper Stock Down 1.7%

SCCO stock opened at $191.00 on Tuesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 3.40 and a current ratio of 3.89. The company has a market capitalization of $156.45 billion, a price-to-earnings ratio of 35.90, a PEG ratio of 1.96 and a beta of 1.16. Southern Copper Corporation has a fifty-two week low of $84.97 and a fifty-two week high of $223.88. The stock has a fifty day moving average of $187.14 and a 200-day moving average of $162.13.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings results on Wednesday, January 28th. The basic materials company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.01. The company had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.73 billion. Southern Copper had a return on equity of 41.97% and a net margin of 32.30%.During the same quarter in the prior year, the company earned $0.98 EPS. As a group, equities research analysts predict that Southern Copper Corporation will post 6.79 earnings per share for the current year.

Southern Copper Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Tuesday, February 10th were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Tuesday, February 10th. This is a positive change from Southern Copper’s previous quarterly dividend of $0.90. Southern Copper’s dividend payout ratio is currently 75.19%.

Insider Buying and Selling at Southern Copper

In related news, Director Lerdo De Tejada Leon Contreras sold 9,326 shares of the stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $209.56, for a total transaction of $1,954,344.91. Following the sale, the director owned 605 shares of the company’s stock, valued at approximately $126,783.04. This represents a 93.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Bonilla Luis Miguel Palomino sold 193 shares of the stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $174.60, for a total value of $33,697.80. Following the sale, the director directly owned 1,707 shares in the company, valued at $298,042.20. This trade represents a 10.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 9,526 shares of company stock valued at $1,989,373 in the last quarter. 0.07% of the stock is owned by corporate insiders.

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.