Pinpoint Asset Management Singapore Pte. Ltd. Lowers Stock Holdings in Southern Copper Corporation $SCCO

Pinpoint Asset Management Singapore Pte. Ltd. lessened its position in shares of Southern Copper Corporation (NYSE:SCCO) by 40.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 5,284 shares of the basic materials company’s stock after selling 3,539 shares during the quarter. Pinpoint Asset Management Singapore Pte. Ltd.’s holdings in Southern Copper were worth $758,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Capital World Investors grew its position in Southern Copper by 36.1% during 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 acquiring an additional 1,708,693 shares during the period. State Street Corp grew its position 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 valued at $339,320,000 after acquiring an additional 40,847 shares during the period. Fisher Asset Management LLC grew its position in Southern Copper by 0.3% during the fourth quarter. Fisher Asset Management LLC now owns 2,536,228 shares of the basic materials company’s stock valued at $363,873,000 after acquiring an additional 7,194 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position 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 valued at $132,479,000 after acquiring an additional 123,532 shares during the period. Finally, Vanguard Group Inc. grew its position in Southern Copper by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 983,822 shares of the basic materials company’s stock valued at $141,149,000 after acquiring an additional 33,804 shares during the period. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Bank of America downgraded Southern Copper from a “neutral” rating to an “underperform” rating and boosted their price target for the company from $162.00 to $175.00 in a research report on Thursday, February 26th. Barclays assumed coverage on Southern Copper in a research report on Thursday, May 21st. They set an “underweight” rating and a $148.00 price target for the company. Scotiabank reissued an “underperform” rating and set a $135.00 price target (up from $133.00) on shares of Southern Copper in a research report on Friday, May 15th. Wells Fargo & Company set a $171.00 price target on Southern Copper and gave the company an “equal weight” rating in a research report on Friday, May 1st. Finally, Wall Street Zen downgraded Southern Copper from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and eight have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $145.14.

Insider Activity at Southern Copper

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 200 shares of the business’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $177.82, for a total transaction of $35,564.00. Following the transaction, 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 document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 404 shares of company stock worth $74,108 in the last 90 days. Insiders own 0.07% of the company’s stock.

Southern Copper Trading Up 4.2%

Shares of SCCO opened at $189.72 on Friday. The stock’s 50-day moving average is $183.38 and its two-hundred day moving average is $175.21. The stock has a market cap of $155.40 billion, a PE ratio of 31.36, a P/E/G ratio of 1.72 and a beta of 1.09. Southern Copper Corporation has a 12 month low of $88.73 and a 12 month high of $223.88. 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 issued its quarterly earnings data on Wednesday, April 29th. The basic materials company reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.88 by $0.04. The company had revenue of $4.25 billion for 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 forecast that Southern Copper Corporation will post 7.25 earnings per share for the current fiscal year.

Southern Copper Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Wednesday, May 13th were paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Wednesday, May 13th. Southern Copper’s payout ratio is currently 66.12%.

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.