Southern Copper Corporation $SCCO Shares Bought by Barings LLC

Barings LLC lifted its holdings in Southern Copper Corporation (NYSE:SCCO) by 700.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 61,478 shares of the basic materials company’s stock after acquiring an additional 53,793 shares during the quarter. Barings LLC’s holdings in Southern Copper were worth $8,820,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in SCCO. Capital World Investors increased its position in shares of Southern Copper by 36.1% in the third quarter. Capital World Investors now owns 6,437,608 shares of the basic materials company’s stock worth $781,268,000 after acquiring an additional 1,708,693 shares in the last quarter. State Street Corp increased its position in shares of Southern Copper by 1.5% in the third quarter. State Street Corp now owns 2,795,976 shares of the basic materials company’s stock worth $339,320,000 after acquiring an additional 40,847 shares in the last quarter. Fisher Asset Management LLC increased its position in shares of Southern Copper by 0.3% in the fourth quarter. Fisher Asset Management LLC now owns 2,536,228 shares of the basic materials company’s stock worth $363,873,000 after acquiring an additional 7,194 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Southern Copper by 12.8% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,091,632 shares of the basic materials company’s stock worth $132,479,000 after acquiring an additional 123,532 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Southern Copper by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 983,822 shares of the basic materials company’s stock worth $141,149,000 after acquiring an additional 33,804 shares in the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Insider Activity

In related news, Director Bonilla Luis Miguel Palomino sold 200 shares of the company’s stock in a transaction on 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 approximately $321,320.74. This represents a 9.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 404 shares of company stock worth $74,108. 0.07% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on SCCO shares. Barclays assumed coverage on shares of Southern Copper in a research report on Thursday, May 21st. They issued an “underweight” rating and a $148.00 target price on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Southern Copper in a report on Friday, March 27th. The Goldman Sachs Group upgraded Southern Copper from a “sell” rating to a “neutral” rating and set a $178.00 price target on the stock in a report on Friday, April 10th. JPMorgan Chase & Co. lifted their price target on Southern Copper from $117.50 to $127.00 and gave the company an “underweight” rating in a report on Friday, April 10th. Finally, Scotiabank reiterated an “underperform” rating and set a $135.00 price target (up from $133.00) on shares of Southern Copper in a report on Friday, May 15th. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and eight have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $145.14.

Southern Copper Stock Performance

SCCO stock opened at $181.91 on Friday. The company has a quick ratio of 3.89, a current ratio of 4.38 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $149.00 billion, a price-to-earnings ratio of 30.07, a P/E/G ratio of 1.58 and a beta of 1.09. Southern Copper Corporation has a 12 month low of $88.73 and a 12 month high of $223.88. The firm has a 50 day moving average of $183.14 and a two-hundred day moving average of $175.11.

Southern Copper (NYSE:SCCO) last released its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.04. The company had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $3.96 billion. Southern Copper had a return on equity of 45.63% and a net margin of 34.13%. As a group, equities analysts anticipate that Southern Copper Corporation will post 7.25 EPS for the current fiscal year.

Southern Copper Announces Dividend

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. This represents a $4.00 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Wednesday, May 13th. Southern Copper’s dividend payout ratio is currently 66.12%.

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.