Hsbc Holdings PLC Has $23.53 Million Holdings in Southern Copper Corporation $SCCO

Hsbc Holdings PLC trimmed its holdings in shares of Southern Copper Corporation (NYSE:SCCO) by 29.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 163,975 shares of the basic materials company’s stock after selling 69,913 shares during the period. Hsbc Holdings PLC’s holdings in Southern Copper were worth $23,529,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of SCCO. Capital World Investors increased its stake in shares of 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 valued at $781,268,000 after acquiring an additional 1,708,693 shares in the last quarter. Norges Bank bought a new position in Southern Copper during the fourth quarter worth $97,645,000. Capital Research Global Investors bought a new position in Southern Copper during the fourth quarter worth $81,039,000. Arrowstreet Capital Limited Partnership acquired a new stake in Southern Copper in the fourth quarter worth $46,560,000. Finally, USS Investment Management Ltd grew its holdings in Southern Copper by 904.8% in the fourth quarter. USS Investment Management Ltd now owns 301,655 shares of the basic materials company’s stock worth $43,272,000 after purchasing an additional 271,634 shares during the period. Institutional investors and hedge funds own 7.94% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on SCCO. The Goldman Sachs Group raised shares of Southern Copper from a “sell” rating to a “neutral” rating and set a $178.00 price target for the company in a research note on Friday, April 10th. Bank of America downgraded Southern Copper from a “neutral” rating to an “underperform” rating and raised their target price for the company from $162.00 to $175.00 in a research note on Thursday, February 26th. UBS Group boosted their target price on Southern Copper from $140.00 to $145.00 and gave the company a “sell” rating in a research report on Thursday, May 21st. Morgan Stanley upped their price target on Southern Copper from $155.00 to $160.00 and gave the stock an “underweight” rating in a research note on Thursday, April 9th. Finally, JPMorgan Chase & Co. increased their price target on Southern Copper from $127.00 to $131.50 and gave the stock an “underweight” rating in a report on Wednesday, June 17th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and eight have issued a Sell rating to the company. According to MarketBeat, Southern Copper has a consensus rating of “Reduce” and an average price target of $145.94.

Southern Copper Stock Performance

Shares of SCCO stock opened at $171.71 on Thursday. 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 firm has a fifty day simple moving average of $184.07 and a two-hundred day simple moving average of $178.63. Southern Copper Corporation has a 12 month low of $88.73 and a 12 month high of $223.88. The firm has a market capitalization of $141.85 billion, a PE ratio of 28.38, a price-to-earnings-growth ratio of 1.60 and a beta of 1.09.

Southern Copper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Wednesday, May 13th were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Wednesday, May 13th. Southern Copper’s dividend payout ratio (DPR) is currently 66.12%.

Insider Activity at Southern Copper

In other news, Director Bonilla Luis Miguel Palomino sold 200 shares of the business’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $177.82, for a total transaction of $35,564.00. Following the completion of the sale, the director directly owned 1,807 shares of the company’s stock, valued at $321,320.74. The trade was a 9.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 404 shares of company stock worth $74,108 over the last ninety days. 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.