Southern Copper Corporation $SCCO Shares Sold by Vantage Investment Partners LLC

Vantage Investment Partners LLC decreased its position in shares of Southern Copper Corporation (NYSE:SCCO) by 9.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 114,984 shares of the basic materials company’s stock after selling 12,124 shares during the quarter. Southern Copper makes up about 1.4% of Vantage Investment Partners LLC’s holdings, making the stock its 24th largest position. Vantage Investment Partners LLC’s holdings in Southern Copper were worth $19,784,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Southern Copper in the fourth quarter valued at approximately $97,645,000. Capital Research Global Investors acquired a new position in Southern Copper in the 4th quarter valued at about $81,039,000. Arrowstreet Capital Limited Partnership acquired a new stake in Southern Copper during the 4th quarter worth approximately $46,560,000. USS Investment Management Ltd grew its stake in shares of Southern Copper by 904.8% in the 4th quarter. USS Investment Management Ltd now owns 301,655 shares of the basic materials company’s stock valued at $43,272,000 after purchasing an additional 271,634 shares during the last quarter. Finally, Lord Abbett & CO. LLC acquired a new position in shares of Southern Copper in the fourth quarter valued at approximately $35,095,000. Institutional investors and hedge funds own 7.94% of the company’s stock.

Southern Copper Price Performance

Shares of SCCO stock traded up $1.56 during midday trading on Friday, reaching $175.99. 791,271 shares of the company traded hands, compared to its average volume of 1,224,357. The firm’s 50 day simple moving average is $181.14 and its two-hundred day simple moving average is $180.93. The firm has a market cap of $145.38 billion, a PE ratio of 29.09, a price-to-earnings-growth ratio of 1.54 and a beta of 1.11. 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 Corporation has a 1-year low of $88.73 and a 1-year high of $223.88.

Southern Copper Dividend Announcement

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

Insider Buying and Selling

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 sale, the director owned 1,807 shares of the company’s stock, valued at approximately $321,320.74. This represents a 9.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 404 shares of company stock worth $74,108 in the last quarter. 0.07% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Wells Fargo & Company boosted their price target on shares of Southern Copper from $171.00 to $172.00 and gave the stock an “equal weight” rating in a research note on Thursday. Wall Street Zen raised Southern Copper from a “hold” rating to a “buy” rating in a report on Saturday, June 27th. JPMorgan Chase & Co. lifted their price target on Southern Copper from $127.00 to $131.50 and gave the company an “underweight” rating in a research note on Wednesday, June 17th. Weiss Ratings lowered Southern Copper from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday. Finally, The Goldman Sachs Group upgraded Southern Copper from a “sell” rating to a “neutral” rating and set a $178.00 price objective for the company in a research report on Friday, April 10th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have given a Hold rating and eight have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target 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.