Y Intercept Hong Kong Ltd Buys Shares of 108,452 Southern Copper Corporation $SCCO

Y Intercept Hong Kong Ltd bought a new position in Southern Copper Corporation (NYSE:SCCO) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 108,452 shares of the basic materials company’s stock, valued at approximately $18,660,000. Southern Copper comprises about 0.4% of Y Intercept Hong Kong Ltd’s investment portfolio, making the stock its 28th largest position.

A number of other large investors have also made changes to their positions in the company. SHP Wealth Management purchased a new stake in shares of Southern Copper during the 4th quarter valued at about $25,000. Lloyd Advisory Services LLC. purchased a new position in shares of Southern Copper in the fourth quarter worth approximately $29,000. Virtus Advisers LLC bought a new stake in Southern Copper during the fourth quarter valued at approximately $29,000. Godfrey Financial Associates Inc. bought a new stake in Southern Copper during the fourth quarter valued at approximately $30,000. Finally, IFP Advisors Inc increased its holdings in Southern Copper by 233.3% during the fourth quarter. IFP Advisors Inc now owns 230 shares of the basic materials company’s stock valued at $33,000 after buying an additional 161 shares during the last quarter. 7.94% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SCCO has been the topic of several recent research reports. Wells Fargo & Company set a $171.00 price target on shares of Southern Copper and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Morgan Stanley boosted their price objective on shares of Southern Copper from $155.00 to $160.00 and gave the company an “underweight” rating in a research report on Thursday, April 9th. UBS Group restated a “sell” rating and issued a $160.00 price objective (up from $145.00) on shares of Southern Copper in a research note on Tuesday. Barclays initiated coverage on Southern Copper in a report on Thursday, May 21st. They issued an “underweight” rating and a $148.00 target price on the stock. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Southern Copper in a research report on Wednesday, June 24th. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and eight have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $147.19.

Southern Copper Price Performance

Shares of NYSE:SCCO opened at $171.73 on Friday. The company has a market capitalization of $141.86 billion, a P/E ratio of 28.39, a P/E/G ratio of 1.52 and a beta of 1.11. Southern Copper Corporation has a 1-year low of $88.73 and a 1-year high of $223.88. The firm’s 50 day simple moving average is $181.85 and its two-hundred day simple moving average is $179.90. 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 Dividend Announcement

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

Insider Transactions at Southern Copper

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 200 shares of the firm’s stock in a transaction dated 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 directly owned 1,807 shares of the company’s stock, valued at $321,320.74. This trade represents a 9.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders sold 404 shares of company stock valued at $74,108. Corporate insiders own 0.07% of the company’s stock.

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.