Southern Copper Corporation $SCCO Shares Sold by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. decreased its holdings in Southern Copper Corporation (NYSE:SCCO) by 13.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,760 shares of the basic materials company’s stock after selling 3,938 shares during the quarter. Jefferies Financial Group Inc.’s holdings in Southern Copper were worth $5,220,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of SCCO. Bell Investment Advisors Inc acquired a new position in shares of Southern Copper during the 2nd quarter worth approximately $26,000. Rakuten Securities Inc. acquired a new stake in shares of Southern Copper in the second quarter valued at approximately $28,000. Gen Wealth Partners Inc bought a new stake in shares of Southern Copper in the third quarter valued at approximately $33,000. Compass Financial Management LLC bought a new position in Southern Copper during the 2nd quarter worth $41,000. Finally, Caitlin John LLC acquired a new position in Southern Copper in the 2nd quarter valued at $43,000. Institutional investors own 7.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. CICC Research cut Southern Copper to a “market perform” rating in a research report on Sunday, July 26th. Morgan Stanley reissued an “underweight” rating and issued a $168.22 target price on shares of Southern Copper in a report on Wednesday, October 7th. UBS Group upgraded shares of Southern Copper from a “sell” rating to a “buy” rating and set a $180.00 price target on the stock in a research report on Tuesday. Barclays set a $163.27 price objective on shares of Southern Copper and gave the company an “underweight” rating in a research note on Monday, October 26th. Finally, Weiss Ratings downgraded shares of Southern Copper from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, October 30th. Three investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and six have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $159.47.

Southern Copper Price Performance

Shares of SCCO stock opened at $168.16 on Friday. The company has a quick ratio of 3.93, a current ratio of 4.31 and a debt-to-equity ratio of 0.59. Southern Copper Corporation has a twelve month low of $119.25 and a twelve month high of $223.88. The company has a market cap of $141.98 billion, a P/E ratio of 22.01, a P/E/G ratio of 1.59 and a beta of 1.15. The business has a fifty day simple moving average of $192.02 and a 200 day simple moving average of $185.32.

Southern Copper (NYSE:SCCO) last released its earnings results on Wednesday, October 21st. The basic materials company reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.12. The firm had revenue of $4.70 billion for the quarter, compared to analysts’ expectations of $4.49 billion. Southern Copper had a return on equity of 51.61% and a net margin of 37.16%. During the same quarter in the previous year, the business posted $1.34 earnings per share. On average, sell-side analysts forecast that Southern Copper Corporation will post 8.01 EPS for the current fiscal year.

Southern Copper Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Tuesday, November 3rd will be issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.1%. This is an increase from Southern Copper’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Tuesday, November 3rd. Southern Copper’s dividend payout ratio (DPR) is currently 68.06%.

Southern Copper Company Profile

Southern Copper Corporation is an integrated mining company focused primarily on the exploration, mining, processing, and refining of copper. Its operations also produce molybdenum, zinc, lead, silver, and other mineral products. The company operates mines and processing facilities in Peru and Mexico, including the Toquepala and Cuajone operations in Peru and the Buenavista and La Caridad operations in Mexico. Its activities extend across the mining and metals value chain, from extracting ore to producing refined metals and concentrates.