Southern Copper Corporation $SCCO Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. decreased its stake in Southern Copper Corporation (NYSE:SCCO) by 2.3% during the first quarter, Holdings Channel reports. The institutional investor owned 219,288 shares of the basic materials company’s stock after selling 5,235 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Southern Copper were worth $37,731,000 as of its most recent filing with the Securities & Exchange Commission.

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

Southern Copper Price Performance

Shares of Southern Copper stock opened at $175.99 on Monday. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.38 and a quick ratio of 3.89. The business has a 50 day simple moving average of $181.14 and a two-hundred day simple moving average of $181.17. Southern Copper Corporation has a 12 month low of $88.73 and a 12 month high of $223.88. The stock has a market capitalization of $145.38 billion, a P/E ratio of 29.09, a PEG ratio of 1.54 and a beta of 1.11.

Southern Copper Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Wednesday, May 13th were given a dividend of $1.00 per share. The ex-dividend date was Wednesday, May 13th. This represents a $4.00 dividend on an annualized basis and a yield of 2.3%. Southern Copper’s dividend payout ratio (DPR) is presently 66.12%.

Insiders Place Their Bets

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 200 shares of the company’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $177.82, for a total value of $35,564.00. Following the completion of the sale, the director directly owned 1,807 shares in the company, valued at $321,320.74. This represents a 9.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 404 shares of company stock worth $74,108 over the last quarter. Insiders own 0.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on SCCO shares. The Goldman Sachs Group raised shares of Southern Copper from a “sell” rating to a “neutral” rating and set a $178.00 price objective for the company in a report on Friday, April 10th. Barclays assumed coverage on shares of Southern Copper in a research note on Thursday, May 21st. They set an “underweight” rating and a $148.00 target price on the stock. Wells Fargo & Company lifted their price target on Southern Copper from $171.00 to $172.00 and gave the company an “equal weight” rating in a research note on Thursday. Zacks Research raised Southern Copper from a “hold” rating to a “strong-buy” rating in a report on Thursday. Finally, Wall Street Zen upgraded Southern Copper from a “hold” rating to a “buy” rating in a research report on Saturday, June 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have assigned a Hold rating and eight have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $147.10.

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.