Transce3nd LLC Sells 386 Shares of Southern Copper Corporation (NYSE:SCCO)

Transce3nd LLC lowered its position in Southern Copper Corporation (NYSE:SCCO) by 14.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,294 shares of the basic materials company’s stock after selling 386 shares during the quarter. Transce3nd LLC’s holdings in Southern Copper were worth $214,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Proficio Capital Partners LLC bought a new position in shares of Southern Copper during the 4th quarter worth approximately $84,000. Raymond James Financial Inc. bought a new stake in shares of Southern Copper during the fourth quarter worth $8,420,000. HighTower Advisors LLC grew its stake in shares of Southern Copper by 11.3% during the fourth quarter. HighTower Advisors LLC now owns 33,014 shares of the basic materials company’s stock worth $3,009,000 after purchasing an additional 3,362 shares during the period. Madison Investment Advisors LLC acquired a new stake in shares of Southern Copper during the fourth quarter worth $1,919,000. Finally, Creative Financial Designs Inc. ADV grew its stake in Southern Copper by 199.1% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 667 shares of the basic materials company’s stock valued at $61,000 after acquiring an additional 444 shares during the period. Institutional investors own 7.94% of the company’s stock.

Southern Copper Stock Performance

Shares of Southern Copper stock opened at $96.63 on Friday. Southern Copper Corporation has a one year low of $74.11 and a one year high of $118.64. The firm has a market capitalization of $76.94 billion, a price-to-earnings ratio of 21.14, a PEG ratio of 2.48 and a beta of 1.02. The business has a 50-day simple moving average of $96.31 and a 200 day simple moving average of $93.60. The company has a debt-to-equity ratio of 0.70, a current ratio of 3.71 and a quick ratio of 3.22.

Southern Copper (NYSE:SCCO) last released its quarterly earnings results on Friday, April 25th. The basic materials company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.14. Southern Copper had a return on equity of 39.39% and a net margin of 30.00%. The business had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.05 billion. On average, research analysts anticipate that Southern Copper Corporation will post 4.66 earnings per share for the current fiscal year.

Southern Copper Dividend Announcement

The firm also recently announced a dividend, which was paid on Monday, May 19th. Stockholders of record on Monday, May 5th were paid a $0.70 dividend. The ex-dividend date was Friday, May 2nd. This represents a dividend yield of 2.98%. Southern Copper’s payout ratio is presently 61.27%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. UBS Group cut Southern Copper from a “buy” rating to a “neutral” rating and set a $105.00 target price for the company. in a research note on Tuesday, July 1st. Wall Street Zen downgraded Southern Copper from a “buy” rating to a “hold” rating in a research report on Tuesday, May 20th. JPMorgan Chase & Co. dropped their price target on Southern Copper from $83.50 to $79.00 and set a “neutral” rating for the company in a research note on Thursday, July 3rd. Itau BBA Securities raised Southern Copper from an “underperform” rating to a “market perform” rating in a report on Wednesday, June 11th. Finally, Morgan Stanley downgraded Southern Copper from an “equal weight” rating to an “underweight” rating and lifted their target price for the stock from $86.00 to $99.00 in a report on Tuesday. Three investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat, Southern Copper currently has a consensus rating of “Hold” and a consensus target price of $91.00.

Southern Copper Profile

Southern Copper Corporation engages in mining, exploring, smelting, and refining copper and other minerals in Peru, Mexico, Argentina, Ecuador, and Chile. The company is involved in the mining, milling, and flotation of copper ore to produce copper and molybdenum concentrates; smelting of copper concentrates to produce blister and anode copper; refining of anode copper to produce copper cathodes; production of molybdenum concentrate and sulfuric acid; production of refined silver, gold, and other materials; and mining and processing of zinc, copper, molybdenum, silver, gold, and lead.