Generali Investments CEE investicni spolecnost a.s. Sells 5,757 Shares of Southern Copper Corporation $SCCO

Generali Investments CEE investicni spolecnost a.s. lowered its holdings in shares of Southern Copper Corporation (NYSE:SCCO) by 37.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,622 shares of the basic materials company’s stock after selling 5,757 shares during the period. Generali Investments CEE investicni spolecnost a.s.’s holdings in Southern Copper were worth $1,380,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of SCCO. Capital World Investors boosted its stake in Southern Copper by 36.1% in the third quarter. Capital World Investors now owns 6,437,608 shares of the basic materials company’s stock valued at $781,268,000 after buying an additional 1,708,693 shares in the last quarter. State Street Corp raised its stake in Southern Copper by 1.5% during the third quarter. State Street Corp now owns 2,795,976 shares of the basic materials company’s stock worth $339,320,000 after acquiring an additional 40,847 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Southern Copper by 12.8% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,091,632 shares of the basic materials company’s stock worth $132,479,000 after acquiring an additional 123,532 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Southern Copper by 1.5% in the third quarter. Legal & General Group Plc now owns 955,924 shares of the basic materials company’s stock worth $116,012,000 after acquiring an additional 14,212 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Southern Copper by 11.2% in the third quarter. Vanguard Group Inc. now owns 950,018 shares of the basic materials company’s stock worth $115,294,000 after acquiring an additional 96,013 shares during the last quarter. 7.94% of the stock is currently owned by institutional investors.

Southern Copper Stock Performance

NYSE:SCCO opened at $161.91 on Friday. The stock’s 50-day moving average is $189.78 and its 200-day moving average is $153.80. Southern Copper Corporation has a 1-year low of $74.84 and a 1-year high of $223.88. The company has a current ratio of 3.89, a quick ratio of 3.40 and a debt-to-equity ratio of 0.61. The stock has a market cap of $132.62 billion, a P/E ratio of 30.43, a price-to-earnings-growth ratio of 1.67 and a beta of 1.03.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings data on Wednesday, January 28th. The basic materials company reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.01. Southern Copper had a net margin of 32.30% and a return on equity of 41.97%. The business had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.73 billion. During the same quarter last year, the business earned $0.98 EPS. Equities research analysts anticipate that Southern Copper Corporation will post 4.66 earnings per share for the current year.

Southern Copper Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Tuesday, February 10th were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Tuesday, February 10th. This is an increase from Southern Copper’s previous quarterly dividend of $0.90. This represents a $4.00 annualized dividend and a dividend yield of 2.5%. Southern Copper’s payout ratio is 75.19%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on SCCO shares. Wall Street Zen raised shares of Southern Copper from a “hold” rating to a “buy” rating in a report on Saturday, March 21st. Morgan Stanley reissued an “underweight” rating and issued a $154.69 price objective on shares of Southern Copper in a research note on Friday, January 30th. Itau BBA Securities lowered shares of Southern Copper from a “market perform” rating to an “underperform” rating and set a $124.94 target price on the stock. in a research report on Monday, December 22nd. Bank of America cut shares of Southern Copper from a “neutral” rating to an “underperform” rating and boosted their target price for the stock from $162.00 to $175.00 in a research note on Thursday, February 26th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating and set a $116.51 price target (down from $118.49) on shares of Southern Copper in a report on Friday, January 23rd. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and eight have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Southern Copper has an average rating of “Reduce” and an average target price of $139.20.

Insiders Place Their Bets

In related news, Director Bonilla Luis Miguel Palomino sold 193 shares of the business’s stock in a transaction on Friday, March 13th. The shares were sold at an average price of $174.60, for a total value of $33,697.80. Following the sale, the director owned 1,707 shares of the company’s stock, valued at $298,042.20. The trade was a 10.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Lerdo De Tejada Leon Contreras sold 9,326 shares of the stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $209.56, for a total value of $1,954,344.91. Following the completion of the sale, the director owned 605 shares of the company’s stock, valued at $126,783.04. The trade was a 93.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 9,526 shares of company stock worth $1,989,373. 0.07% of the stock is owned by company insiders.

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.