National Pension Service Trims Stock Holdings in Southern Copper Corporation $SCCO

National Pension Service trimmed its holdings in Southern Copper Corporation (NYSE:SCCO) by 15.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 22,824 shares of the basic materials company’s stock after selling 4,099 shares during the quarter. National Pension Service’s holdings in Southern Copper were worth $3,275,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of SCCO. Hopwood Financial Services Inc. purchased a new stake in shares of Southern Copper in the third quarter worth approximately $25,000. Lloyd Advisory Services LLC. purchased a new stake in shares of Southern Copper in the fourth quarter worth approximately $29,000. United Community Bank purchased a new stake in shares of Southern Copper in the third quarter worth approximately $30,000. Caitlin John LLC purchased a new stake in shares of Southern Copper in the third quarter worth approximately $30,000. Finally, Godfrey Financial Associates Inc. purchased a new stake in shares of Southern Copper in the fourth quarter worth approximately $30,000. 7.94% of the stock is currently owned by hedge funds and other institutional investors.

Southern Copper Stock Up 1.7%

Shares of NYSE SCCO opened at $194.64 on Tuesday. The company has a current ratio of 4.38, a quick ratio of 3.89 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $159.43 billion, a PE ratio of 32.17, a price-to-earnings-growth ratio of 1.89 and a beta of 1.07. The stock’s fifty day simple moving average is $179.72 and its two-hundred day simple moving average is $171.94. Southern Copper Corporation has a 12-month low of $88.73 and a 12-month high of $223.88.

Southern Copper (NYSE:SCCO) last announced its earnings results on Wednesday, April 29th. The basic materials company reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.04. The business had revenue of $4.25 billion for the quarter, compared to analysts’ expectations of $3.96 billion. Southern Copper had a return on equity of 45.63% and a net margin of 34.13%. As a group, analysts expect that Southern Copper Corporation will post 6.93 EPS for the current fiscal year.

Southern Copper Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Wednesday, May 13th were given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Wednesday, May 13th. Southern Copper’s dividend payout ratio (DPR) is 66.12%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Morgan Stanley increased their price target on Southern Copper from $155.00 to $160.00 and gave the stock an “underweight” rating in a report on Thursday, April 9th. Barclays assumed coverage on Southern Copper in a report on Thursday, May 21st. They set an “underweight” rating and a $148.00 price objective on the stock. Wall Street Zen downgraded Southern Copper from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Weiss Ratings restated a “buy (b)” rating on shares of Southern Copper in a report on Friday, March 27th. Finally, UBS Group raised their price objective on Southern Copper from $140.00 to $145.00 and gave the stock a “sell” rating in a report on Thursday, May 21st. Two 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $145.14.

Insider Transactions at Southern Copper

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 200 shares of the stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $177.82, for a total transaction of $35,564.00. Following the sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders sold 500 shares of company stock worth $88,412. 0.07% of the stock is currently owned by company insiders.

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.