Southern Copper Corporation $SCCO Holdings Decreased by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. lowered its stake in shares of Southern Copper Corporation (NYSE:SCCO) by 13.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,825,385 shares of the basic materials company’s stock after selling 447,910 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Southern Copper were worth $405,358,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Intech Investment Management LLC raised its stake in Southern Copper by 0.8% during the 4th quarter. Intech Investment Management LLC now owns 6,030 shares of the basic materials company’s stock valued at $865,000 after acquiring an additional 50 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al lifted its holdings in shares of Southern Copper by 0.8% during the fourth quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 6,072 shares of the basic materials company’s stock valued at $871,000 after purchasing an additional 51 shares during the last quarter. Steel Grove Capital Advisors LLC lifted its holdings in shares of Southern Copper by 1.8% during the fourth quarter. Steel Grove Capital Advisors LLC now owns 2,910 shares of the basic materials company’s stock valued at $417,000 after purchasing an additional 52 shares during the last quarter. Centerstone Investors LLC lifted its holdings in shares of Southern Copper by 0.9% during the fourth quarter. Centerstone Investors LLC now owns 6,998 shares of the basic materials company’s stock valued at $1,004,000 after purchasing an additional 59 shares during the last quarter. Finally, ORG Partners LLC lifted its holdings in shares of Southern Copper by 1.3% during the fourth quarter. ORG Partners LLC now owns 4,813 shares of the basic materials company’s stock valued at $691,000 after purchasing an additional 60 shares during the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Southern Copper Stock Performance

SCCO opened at $194.21 on Friday. The business’s 50-day moving average price is $182.14 and its two-hundred day moving average price is $173.32. Southern Copper Corporation has a 1 year low of $88.73 and a 1 year high of $223.88. The company has a market capitalization of $159.07 billion, a price-to-earnings ratio of 32.10, a P/E/G ratio of 1.85 and a beta of 1.09. 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 (NYSE:SCCO) last announced its quarterly earnings data on Wednesday, April 29th. The basic materials company reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.04. The company had revenue of $4.25 billion during 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%. Equities analysts expect that Southern Copper Corporation will post 7.25 EPS for the current fiscal year.

Southern Copper Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Wednesday, May 13th were issued a dividend of $1.00 per share. The ex-dividend date was Wednesday, May 13th. This represents a $4.00 dividend on an annualized basis and a yield of 2.1%. Southern Copper’s dividend payout ratio (DPR) is presently 66.12%.

Insider Activity

In other news, Director Bonilla Luis Miguel Palomino sold 200 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director owned 1,807 shares in the company, valued at $321,320.74. The trade was a 9.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold a total of 600 shares of company stock worth $108,412 in the last three months. Insiders own 0.07% of the company’s stock.

Wall Street Analyst Weigh In

SCCO has been the subject of several analyst reports. Barclays began coverage on Southern Copper in a report on Thursday, May 21st. They set an “underweight” rating and a $148.00 target price for the company. Wall Street Zen cut Southern Copper from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Bank of America cut Southern Copper from a “neutral” rating to an “underperform” rating and lifted their price objective for the company from $162.00 to $175.00 in a research report on Thursday, February 26th. UBS Group boosted their price target on Southern Copper from $140.00 to $145.00 and gave the stock a “sell” rating in a research report on Thursday, May 21st. Finally, JPMorgan Chase & Co. boosted their price target on Southern Copper from $117.50 to $127.00 and gave the stock an “underweight” rating in a research report on Friday, April 10th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and eight have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $145.14.

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.