USS Investment Management Ltd Lowers Stock Position in Southern Copper Corporation $SCCO

USS Investment Management Ltd trimmed its position in shares of Southern Copper Corporation (NYSE:SCCO) by 50.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 150,096 shares of the basic materials company’s stock after selling 151,559 shares during the period. USS Investment Management Ltd’s holdings in Southern Copper were worth $25,821,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in SCCO. SHP Wealth Management purchased a new stake in Southern Copper during the fourth quarter valued at about $25,000. Lloyd Advisory Services LLC. acquired a new stake in Southern Copper during the fourth quarter worth about $29,000. Virtus Advisers LLC purchased a new position in shares of Southern Copper in the 4th quarter worth about $29,000. Godfrey Financial Associates Inc. purchased a new position in shares of Southern Copper in the 4th quarter worth about $30,000. Finally, IFP Advisors Inc lifted its stake in shares of Southern Copper by 233.3% in the 4th quarter. IFP Advisors Inc now owns 230 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 161 shares in the last quarter. 7.94% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SCCO. UBS Group reiterated a “sell” rating and set a $160.00 target price (up from $145.00) on shares of Southern Copper in a report on Tuesday. Morgan Stanley raised their price target on shares of Southern Copper from $155.00 to $160.00 and gave the company an “underweight” rating in a report on Thursday, April 9th. Wells Fargo & Company set a $171.00 price target on shares of Southern Copper and gave the company an “equal weight” rating in a research report on Friday, May 1st. JPMorgan Chase & Co. boosted their price objective on shares of Southern Copper from $127.00 to $131.50 and gave the stock an “underweight” rating in a research note on Wednesday, June 17th. Finally, Scotiabank reissued an “underperform” rating and issued a $140.00 price objective (up from $135.00) on shares of Southern Copper in a research report on Monday, June 15th. 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $147.19.

Insider Activity at Southern Copper

In related 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 transaction, the director directly owned 1,807 shares of the company’s stock, valued at approximately $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 accessible through the SEC website. In the last quarter, insiders sold 404 shares of company stock worth $74,108. Company insiders own 0.07% of the company’s stock.

Southern Copper Trading Up 3.6%

Shares of SCCO opened at $174.55 on Wednesday. The stock’s 50-day moving average is $182.53 and its two-hundred day moving average is $179.52. The stock has a market cap of $144.19 billion, a PE ratio of 28.85, a P/E/G ratio of 1.51 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 Dividend Announcement

The business also recently announced 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. This represents a $4.00 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Wednesday, May 13th. Southern Copper’s dividend payout ratio (DPR) is presently 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.