Manning & Napier Advisors LLC Has $11.74 Million Holdings in Southern Copper Corporation $SCCO

Manning & Napier Advisors LLC cut its position in Southern Copper Corporation (NYSE:SCCO) by 13.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,252 shares of the basic materials company’s stock after selling 10,920 shares during the quarter. Manning & Napier Advisors LLC’s holdings in Southern Copper were worth $11,743,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in SCCO. State Street Corp grew its position in shares of Southern Copper by 2.4% in the 4th quarter. State Street Corp now owns 2,862,244 shares of the basic materials company’s stock valued at $410,646,000 after acquiring an additional 66,268 shares during the period. Fisher Asset Management LLC raised its holdings in shares of 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 valued at $363,873,000 after purchasing an additional 7,194 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Southern Copper by 8.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,181,293 shares of the basic materials company’s stock valued at $169,480,000 after purchasing an additional 90,237 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in 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 during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Southern Copper by 3.6% in the 4th quarter. Vanguard Group Inc. now owns 983,822 shares of the basic materials company’s stock valued at $141,149,000 after purchasing an additional 33,804 shares during the last quarter. 7.94% of the stock is owned by institutional investors.

Southern Copper Stock Performance

SCCO traded up $1.56 on Friday, reaching $175.99. The company had a trading volume of 791,271 shares, compared to its average volume of 1,224,357. The stock has a market cap of $145.38 billion, a P/E ratio of 29.09, a P/E/G ratio of 1.53 and a beta of 1.11. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.89 and a current ratio of 4.38. Southern Copper Corporation has a fifty-two week low of $88.73 and a fifty-two week high of $223.88. The company’s fifty day moving average is $181.14 and its 200 day moving average is $180.93.

Southern Copper Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Wednesday, May 13th were given a $1.00 dividend. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $4.00 annualized dividend and a dividend yield of 2.3%. Southern Copper’s dividend payout ratio is presently 66.12%.

Insider Activity at Southern Copper

In other news, Director Bonilla Luis Miguel Palomino sold 200 shares of the 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 owned 1,807 shares in the company, valued at approximately $321,320.74. This trade represents a 9.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 404 shares of company stock valued at $74,108 over the last 90 days. 0.07% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Weiss Ratings cut Southern Copper from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday. JPMorgan Chase & Co. raised their price objective on Southern Copper from $127.00 to $131.50 and gave the company an “underweight” rating in a research report on Wednesday, June 17th. Wells Fargo & Company lifted their target price on Southern Copper from $171.00 to $172.00 and gave the stock an “equal weight” rating in a research note on Thursday. Morgan Stanley boosted their target price on Southern Copper from $146.00 to $158.00 and gave the stock an “underweight” rating in a report on Wednesday. Finally, Barclays initiated coverage on Southern Copper in a research note on Thursday, May 21st. They issued an “underweight” rating and a $148.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have issued a Hold rating and eight have issued a Sell rating to the stock. Based on data from MarketBeat.com, Southern Copper has an average rating of “Reduce” and a consensus target price of $147.10.

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.