GSA Capital Partners LLP Sells 5,478 Shares of Southern Copper Corporation $SCCO

GSA Capital Partners LLP cut its stake in Southern Copper Corporation (NYSE:SCCOFree Report) by 67.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,654 shares of the basic materials company’s stock after selling 5,478 shares during the period. GSA Capital Partners LLP’s holdings in Southern Copper were worth $322,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. grew its stake in Southern Copper by 10.8% in the second quarter. JPMorgan Chase & Co. now owns 1,719,883 shares of the basic materials company’s stock worth $174,002,000 after purchasing an additional 168,005 shares during the period. Empower Advisory Group LLC grew its holdings in Southern Copper by 8.4% in the second quarter. Empower Advisory Group LLC now owns 979,877 shares of the basic materials company’s stock worth $99,134,000 after purchasing an additional 75,653 shares during the period. Vanguard Group Inc. increased its stake in shares of Southern Copper by 11.2% during the third quarter. Vanguard Group Inc. now owns 950,018 shares of the basic materials company’s stock valued at $115,294,000 after purchasing an additional 96,013 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Southern Copper by 4.3% during the second quarter. Legal & General Group Plc now owns 941,712 shares of the basic materials company’s stock valued at $95,273,000 after purchasing an additional 38,856 shares during the last quarter. Finally, Bollard Group LLC lifted its holdings in shares of Southern Copper by 14.1% during the second quarter. Bollard Group LLC now owns 834,344 shares of the basic materials company’s stock valued at $84,411,000 after purchasing an additional 103,014 shares during the last quarter. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Southern Copper Price Performance

Shares of NYSE:SCCO opened at $215.74 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 3.91 and a current ratio of 4.52. The firm has a market cap of $175.22 billion, a price-to-earnings ratio of 40.55, a price-to-earnings-growth ratio of 1.77 and a beta of 1.07. The business has a 50-day simple moving average of $179.49 and a two-hundred day simple moving average of $141.16. Southern Copper Corporation has a fifty-two week low of $74.84 and a fifty-two week high of $220.76.

Southern Copper Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Tuesday, February 10th will be given a $1.00 dividend. 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 dividend on an annualized basis and a yield of 1.9%. Southern Copper’s payout ratio is presently 75.19%.

Analysts Set New Price Targets

SCCO has been the subject of a number of analyst reports. Citigroup reaffirmed a “sell” rating on shares of Southern Copper in a research report on Monday, January 12th. Itau BBA Securities downgraded Southern Copper from a “market perform” rating to an “underperform” rating and set a $124.94 price target for the company. in a report on Monday, December 22nd. UBS Group reaffirmed a “sell” rating and issued a $148.74 price target (up from $146.75) on shares of Southern Copper in a research report on Tuesday, February 3rd. Wall Street Zen raised shares of Southern Copper from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $154.69 target price on shares of Southern Copper in a report on Friday, January 30th. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and eight have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Southern Copper has an average rating of “Reduce” and an average target price of $139.99.

Check Out Our Latest Stock Analysis on Southern Copper

Key Headlines Impacting Southern Copper

Here are the key news stories impacting Southern Copper this week:

Insiders Place Their Bets

In related news, Director Lerdo De Tejada Leon Contreras sold 9,326 shares of the company’s stock in a transaction on 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 completion of the sale, the director owned 605 shares in the company, valued at approximately $126,783.04. This represents a 93.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bonilla Luis Miguel Palomino sold 403 shares of the firm’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $137.83, for a total value of $55,544.87. Following the completion of the transaction, the director directly owned 1,275 shares in the company, valued at $175,731.28. The trade was a 24.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.07% of the stock is currently owned by insiders.

Southern Copper Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Southern Copper (NYSE:SCCO)

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