Machina Capital S.A.S. Lowers Stake in Southern Copper Corporation $SCCO

Machina Capital S.A.S. decreased its position in Southern Copper Corporation (NYSE:SCCO) by 39.0% during the third quarter, Holdings Channel reports. The firm owned 7,205 shares of the basic materials company’s stock after selling 4,603 shares during the quarter. Machina Capital S.A.S.’s holdings in Southern Copper were worth $874,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the company. MJT & Associates Financial Advisory Group Inc. raised its holdings in shares of Southern Copper by 65.1% in the 3rd quarter. MJT & Associates Financial Advisory Group Inc. now owns 213 shares of the basic materials company’s stock valued at $26,000 after buying an additional 84 shares during the period. Tobam purchased a new stake in Southern Copper during the second quarter worth about $29,000. United Community Bank purchased a new stake in Southern Copper during the third quarter worth about $30,000. Westside Investment Management Inc. acquired a new stake in shares of Southern Copper during the second quarter worth about $32,000. Finally, Allworth Financial LP boosted its stake in shares of Southern Copper by 65.1% in the second quarter. Allworth Financial LP now owns 383 shares of the basic materials company’s stock valued at $39,000 after purchasing an additional 151 shares during the period. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Zacks Research downgraded shares of Southern Copper from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 8th. Morgan Stanley reaffirmed an “underweight” rating and set a $156.00 price objective on shares of Southern Copper in a research report on Friday, January 30th. HSBC reiterated a “hold” rating and issued a $118.00 target price (up from $105.00) on shares of Southern Copper in a report on Friday, October 17th. Scotiabank restated an “underperform” rating on shares of Southern Copper in a report on Tuesday, January 27th. Finally, UBS Group reaffirmed a “sell” rating and issued a $150.00 price target (up previously from $148.00) on shares of Southern Copper in a research report on Tuesday. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and seven have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average target price of $137.65.

Insider Activity at Southern Copper

In related news, Director Lerdo De Tejada Leon Contreras sold 9,248 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $211.34, for a total value of $1,954,472.32. Following the completion of the transaction, the director directly owned 600 shares of the company’s stock, valued at $126,804. This represents a 93.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Bonilla Luis Miguel Palomino sold 400 shares of the stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $139.00, for a total transaction of $55,600.00. Following the completion of the transaction, the director owned 1,265 shares in the company, valued at $175,835. This represents a 24.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 9,796 shares of company stock valued at $2,030,792. 0.07% of the stock is owned by company insiders.

Southern Copper Stock Performance

NYSE:SCCO opened at $196.00 on Thursday. The firm has a market capitalization of $159.19 billion, a PE ratio of 41.09, a price-to-earnings-growth ratio of 1.77 and a beta of 1.07. The business’s fifty day moving average price is $160.89 and its 200 day moving average price is $130.77. The company has a debt-to-equity ratio of 0.64, a current ratio of 4.52 and a quick ratio of 3.91. Southern Copper Corporation has a 12 month low of $74.84 and a 12 month high of $218.81.

Southern Copper shares are going to split on the morning of Tuesday, February 10th. The 1.0085-1 split was recently announced. The newly minted shares will be distributed to shareholders after the closing bell on Monday, February 9th.

Southern Copper Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Tuesday, February 10th will be given a dividend of $1.00 per share. This is a boost from Southern Copper’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Tuesday, February 10th. This represents a $4.00 annualized dividend and a dividend yield of 2.0%. Southern Copper’s dividend payout ratio is 75.47%.

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.