Hunter Associates Investment Management LLC Sells 2,927 Shares of Southern Copper Corporation $SCCO

Hunter Associates Investment Management LLC cut its holdings in shares of Southern Copper Corporation (NYSE:SCCO) by 21.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,838 shares of the basic materials company’s stock after selling 2,927 shares during the quarter. Hunter Associates Investment Management LLC’s holdings in Southern Copper were worth $1,864,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in SCCO. Intech Investment Management LLC boosted its stake in shares of Southern Copper by 0.8% in the 4th quarter. Intech Investment Management LLC now owns 6,030 shares of the basic materials company’s stock valued at $865,000 after purchasing an additional 50 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al raised its position in Southern Copper by 0.8% in the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 6,072 shares of the basic materials company’s stock worth $871,000 after purchasing an additional 51 shares during the period. Steel Grove Capital Advisors LLC raised its position in Southern Copper by 1.8% in the 4th quarter. Steel Grove Capital Advisors LLC now owns 2,910 shares of the basic materials company’s stock worth $417,000 after purchasing an additional 52 shares during the period. Ensign Peak Advisors Inc lifted its stake in Southern Copper by 0.8% in the fourth quarter. Ensign Peak Advisors Inc now owns 6,379 shares of the basic materials company’s stock worth $915,000 after purchasing an additional 53 shares during the last quarter. Finally, Venture Visionary Partners LLC lifted its stake in Southern Copper by 0.8% in the fourth quarter. Venture Visionary Partners LLC now owns 6,998 shares of the basic materials company’s stock worth $1,004,000 after purchasing an additional 53 shares during the last quarter. 7.94% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Southern Copper

In related 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 value 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 document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold 404 shares of company stock worth $74,108 in the last ninety days. Corporate insiders own 0.07% of the company’s stock.

Southern Copper Price Performance

Shares of Southern Copper stock opened at $171.73 on Friday. The firm has a market cap of $141.86 billion, a PE ratio of 28.39, a price-to-earnings-growth ratio of 1.55 and a beta of 1.11. Southern Copper Corporation has a 12-month low of $88.73 and a 12-month high of $223.88. The company has a quick ratio of 3.89, a current ratio of 4.38 and a debt-to-equity ratio of 0.57. The company’s fifty day simple moving average is $181.53 and its two-hundred day simple moving average is $179.84.

Southern Copper Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Morgan Stanley raised their price objective on Southern Copper from $155.00 to $160.00 and gave the company an “underweight” rating in a research note on Thursday, April 9th. UBS Group reissued a “sell” rating and issued a $160.00 target price (up from $145.00) on shares of Southern Copper in a research note on Tuesday. Wells Fargo & Company set a $171.00 target price on Southern Copper and gave the company an “equal weight” rating in a report on Friday, May 1st. The Goldman Sachs Group upgraded Southern Copper from a “sell” rating to a “neutral” rating and set a $178.00 price target on the stock in a research report on Friday, April 10th. Finally, Barclays started coverage on Southern Copper in a research note on Thursday, May 21st. They issued an “underweight” rating and a $148.00 price target on the stock. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and eight have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $147.19.

Southern Copper Company 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.