Southern Copper (NYSE:SCCO) Stock Price Down 5.2% – Should You Sell?

Shares of Southern Copper Corporation (NYSE:SCCO) fell 5.2% on Tuesday . The company traded as low as $197.30 and last traded at $197.5460. 302,464 shares changed hands during trading, a decline of 88% from the average session volume of 2,565,519 shares. The stock had previously closed at $208.28.

Analysts Set New Price Targets

A number of analysts recently commented on SCCO shares. HSBC reiterated a “hold” rating and issued a $117.01 target price (up from $104.12) on shares of Southern Copper in a research note on Friday, October 17th. Zacks Research lowered shares of Southern Copper from a “strong-buy” rating to a “hold” rating in a report on Monday, December 8th. Wall Street Zen downgraded Southern Copper from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. UBS Group reaffirmed a “sell” rating and set a $148.74 price target (up previously from $146.75) on shares of Southern Copper in a research report on Tuesday, February 3rd. Finally, Scotiabank reissued an “underperform” rating on shares of Southern Copper in a report on Tuesday, January 27th. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and seven have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $136.49.

Southern Copper Stock Down 4.1%

The stock has a market cap of $162.28 billion, a PE ratio of 37.47, a P/E/G ratio of 1.64 and a beta of 1.06. The business has a 50 day moving average price of $164.80 and a 200 day moving average price of $133.10. The company has a quick ratio of 3.91, a current ratio of 4.52 and a debt-to-equity ratio of 0.64.

Southern Copper Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Tuesday, February 10th will be issued a dividend of $1.00 per share. This is a positive change from Southern Copper’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Tuesday, February 10th. This represents a $4.00 annualized dividend and a dividend yield of 2.0%. Southern Copper’s payout ratio is presently 67.67%.

Insiders Place Their Bets

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 403 shares of the company’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $137.83, for a total value of $55,544.87. Following the completion of the transaction, the director owned 1,275 shares in the company, valued at approximately $175,731.28. This represents a 24.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Lerdo De Tejada Leon Contreras sold 9,326 shares of the business’s stock in a transaction that occurred 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. This trade represents a 93.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.07% of the company’s stock.

Institutional Investors Weigh In On Southern Copper

Several institutional investors and hedge funds have recently added to or reduced their stakes in SCCO. Capital World Investors increased its stake in Southern Copper by 36.1% during the 3rd quarter. Capital World Investors now owns 6,437,608 shares of the basic materials company’s stock worth $781,268,000 after buying an additional 1,708,693 shares in the last quarter. Norges Bank acquired a new position in Southern Copper in the fourth quarter valued at approximately $97,645,000. HRT Financial LP purchased a new position in shares of Southern Copper during the 2nd quarter worth $29,771,000. Man Group plc boosted its stake in Southern Copper by 65.4% during the second quarter. Man Group plc now owns 467,119 shares of the basic materials company’s stock worth $47,258,000 after buying an additional 184,641 shares during the period. Finally, Schroder Investment Management Group raised its position in Southern Copper by 54.6% in the third quarter. Schroder Investment Management Group now owns 505,284 shares of the basic materials company’s stock valued at $61,321,000 after purchasing an additional 178,350 shares during the period. Hedge funds and other institutional investors own 7.94% of the company’s stock.

About Southern Copper

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.