Natixis Advisors LLC Decreases Stock Position in Southern Copper Corporation $SCCO

Natixis Advisors LLC lessened its stake in Southern Copper Corporation (NYSE:SCCO) by 15.3% in the fourth quarter, Holdings Channel reports. The fund owned 19,881 shares of the basic materials company’s stock after selling 3,601 shares during the quarter. Natixis Advisors LLC’s holdings in Southern Copper were worth $2,852,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Capital World Investors boosted its holdings in Southern Copper by 36.1% in the 3rd quarter. Capital World Investors now owns 6,437,608 shares of the basic materials company’s stock worth $781,268,000 after acquiring an additional 1,708,693 shares during the period. State Street Corp boosted its holdings in Southern Copper by 1.5% in the 3rd 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 during the period. Fisher Asset Management LLC boosted its holdings in Southern Copper by 0.3% in the 4th quarter. Fisher Asset Management LLC now owns 2,536,228 shares of the basic materials company’s stock worth $363,873,000 after acquiring an additional 7,194 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Southern Copper by 12.8% in the 3rd 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 purchasing an additional 123,532 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Southern Copper by 3.6% during the 4th quarter. Vanguard Group Inc. now owns 983,822 shares of the basic materials company’s stock valued at $141,149,000 after buying an additional 33,804 shares during the last quarter. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Southern Copper Stock Performance

Southern Copper stock opened at $174.97 on Wednesday. The company has a current ratio of 4.38, a quick ratio of 3.89 and a debt-to-equity ratio of 0.57. The stock has a market cap of $143.32 billion, a P/E ratio of 28.92, a price-to-earnings-growth ratio of 1.61 and a beta of 1.09. Southern Copper Corporation has a 52 week low of $88.73 and a 52 week high of $223.88. The stock has a 50 day moving average of $182.77 and a 200-day moving average of $174.34.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.04. The business had revenue of $4.25 billion for the quarter, compared to analyst estimates of $3.96 billion. Southern Copper had a return on equity of 45.63% and a net margin of 34.13%. On average, analysts expect that Southern Copper Corporation will post 7.25 EPS for the current fiscal year.

Southern Copper Dividend Announcement

The company also recently declared 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. This represents a $4.00 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Wednesday, May 13th. Southern Copper’s dividend payout ratio is currently 66.12%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on SCCO shares. Morgan Stanley increased their target price on Southern Copper from $155.00 to $160.00 and gave the company an “underweight” rating in a research note on Thursday, April 9th. Wells Fargo & Company set a $171.00 target price on Southern Copper and gave the company an “equal weight” rating in a research note on Friday, May 1st. UBS Group increased their target price on Southern Copper from $140.00 to $145.00 and gave the company a “sell” rating in a research note on Thursday, May 21st. Scotiabank reiterated an “underperform” rating and set a $135.00 target price (up from $133.00) on shares of Southern Copper in a research note on Friday, May 15th. Finally, Wall Street Zen cut Southern Copper from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and eight have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $145.14.

Insider Activity

In related news, Director Bonilla Luis Miguel Palomino sold 200 shares of the company’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 sale, the director directly owned 1,807 shares of the company’s stock, valued at approximately $321,320.74. This represents a 9.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders sold 604 shares of company stock worth $109,136. Corporate insiders own 0.07% of the company’s stock.

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.