Temasek Holdings Private Ltd Sells 136,010 Shares of Southern Copper Corporation $SCCO

Temasek Holdings Private Ltd lessened its position in Southern Copper Corporation (NYSE:SCCO) by 35.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 243,788 shares of the basic materials company’s stock after selling 136,010 shares during the quarter. Temasek Holdings Private Ltd’s holdings in Southern Copper were worth $29,586,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Capital World Investors boosted its position in Southern Copper by 36.1% during the 3rd quarter. Capital World Investors now owns 6,437,608 shares of the basic materials company’s stock worth $781,268,000 after acquiring an additional 1,708,693 shares during the last quarter. Norges Bank acquired a new stake in shares of Southern Copper in the second quarter valued at approximately $57,901,000. HRT Financial LP bought a new stake in shares of Southern Copper in the second quarter worth $29,771,000. Man Group plc lifted its position in shares of Southern Copper by 65.4% in the second quarter. Man Group plc now owns 467,119 shares of the basic materials company’s stock worth $47,258,000 after purchasing an additional 184,641 shares in the last quarter. Finally, Schroder Investment Management Group boosted its holdings in Southern Copper by 54.6% during the third quarter. Schroder Investment Management Group now owns 505,284 shares of the basic materials company’s stock worth $61,321,000 after purchasing an additional 178,350 shares during the last quarter. Institutional investors own 7.94% of the company’s stock.

Southern Copper Stock Down 5.3%

Shares of SCCO stock opened at $171.05 on Friday. 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 firm’s 50-day moving average is $190.66 and its 200-day moving average is $148.84. The stock has a market cap of $138.92 billion, a price-to-earnings ratio of 32.15, a PEG ratio of 1.86 and a beta of 1.03. Southern Copper Corporation has a 52-week low of $74.84 and a 52-week high of $223.88.

Southern Copper Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Tuesday, February 10th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.3%. This is a boost from Southern Copper’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Tuesday, February 10th. Southern Copper’s dividend payout ratio (DPR) is presently 75.19%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Citigroup reaffirmed a “sell” rating on shares of Southern Copper in a research report on Monday, January 12th. Wall Street Zen cut shares of Southern Copper from a “buy” rating to a “hold” rating in a research report on Sunday, March 1st. Zacks Research downgraded shares of Southern Copper from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 8th. Scotiabank restated an “underperform” rating on shares of Southern Copper in a report on Tuesday, January 27th. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $154.69 target price on shares of Southern Copper in a research report on Friday, January 30th. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and eight have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $139.99.

Insider Transactions at Southern Copper

In other Southern Copper news, Director Lerdo De Tejada Leon Contreras sold 9,326 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $209.56, for a total value of $1,954,344.91. Following the sale, the director owned 605 shares in the company, valued at $126,783.04. This represents a 93.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.07% of the stock is owned by corporate 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.