Hsbc Holdings PLC Has $31.08 Million Stock Position in Southern Copper Corporation $SCCO

Hsbc Holdings PLC increased its stake in Southern Copper Corporation (NYSE:SCCO) by 20.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 180,931 shares of the basic materials company’s stock after purchasing an additional 31,156 shares during the quarter. Hsbc Holdings PLC’s holdings in Southern Copper were worth $31,079,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. SHP Wealth Management purchased a new position in shares of Southern Copper in the fourth quarter worth approximately $25,000. Lloyd Advisory Services LLC. acquired a new stake in shares of Southern Copper during the fourth quarter valued at approximately $29,000. Virtus Advisers LLC purchased a new stake in shares of Southern Copper in the 4th quarter valued at approximately $29,000. Godfrey Financial Associates Inc. purchased a new stake in shares of Southern Copper in the 4th quarter valued at approximately $30,000. Finally, IFP Advisors Inc boosted its stake in Southern Copper by 233.3% in the 4th quarter. IFP Advisors Inc now owns 230 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 161 shares during the period. Institutional investors and hedge funds own 7.94% of the company’s stock.

Analysts Set New Price Targets

SCCO has been the topic of several research analyst reports. Wells Fargo & Company lifted their price objective on shares of Southern Copper from $171.00 to $172.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 9th. Barclays restated an “underweight” rating and issued a $160.00 target price (up from $148.00) on shares of Southern Copper in a report on Wednesday, July 15th. Zacks Research raised Southern Copper from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 9th. Citigroup reiterated a “positive” rating on shares of Southern Copper in a report on Wednesday, July 15th. Finally, Wall Street Zen raised Southern Copper from a “hold” rating to a “buy” rating in a research report on Saturday, June 27th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have given a Hold rating and seven have assigned a Sell rating to the company. According to MarketBeat, Southern Copper has a consensus rating of “Reduce” and an average price target of $148.10.

Insider Activity at Southern Copper

In other news, Director Bonilla Luis Miguel Palomino sold 200 shares of the business’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $177.82, for a total transaction of $35,564.00. Following the transaction, the director directly owned 1,807 shares in the company, valued at $321,320.74. The trade was a 9.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last 90 days, insiders have sold 404 shares of company stock worth $74,108. Insiders own 0.07% of the company’s stock.

Southern Copper Stock Performance

Shares of SCCO opened at $187.92 on Wednesday. The company’s 50 day moving average price is $180.76 and its 200 day moving average price is $182.80. Southern Copper Corporation has a 52 week low of $88.73 and a 52 week high of $223.88. The company has a market capitalization of $155.24 billion, a PE ratio of 31.06, a PEG ratio of 1.50 and a beta of 1.11. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.89 and a current ratio of 4.38.

Southern Copper’s stock is scheduled to split before the market opens on Tuesday, August 11th. The 1.012-1 split was recently announced. The newly created shares will be payable to shareholders after the market closes on Monday, August 10th.

Southern Copper Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Tuesday, August 11th will be paid a dividend of $1.10 per share. This is an increase from Southern Copper’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Tuesday, August 11th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.3%. Southern Copper’s dividend payout ratio (DPR) is 72.73%.

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.