Barings LLC Sells 33,387 Shares of Southern Copper Co. (NYSE:SCCO)

Barings LLC cut its holdings in shares of Southern Copper Co. (NYSE:SCCO) by 60.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,064 shares of the basic materials company’s stock after selling 33,387 shares during the quarter. Barings LLC’s holdings in Southern Copper were worth $2,011,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Amundi raised its holdings in Southern Copper by 23.3% during the fourth quarter. Amundi now owns 174,213 shares of the basic materials company’s stock valued at $16,655,000 after acquiring an additional 32,883 shares during the period. Larson Financial Group LLC increased its holdings in shares of Southern Copper by 28.0% in the fourth quarter. Larson Financial Group LLC now owns 521 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 114 shares during the last quarter. HM Payson & Co. increased its holdings in shares of Southern Copper by 1,478.3% in the fourth quarter. HM Payson & Co. now owns 3,204 shares of the basic materials company’s stock worth $292,000 after purchasing an additional 3,001 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Southern Copper by 2.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 17,367 shares of the basic materials company’s stock worth $1,583,000 after purchasing an additional 412 shares during the last quarter. Finally, Generali Investments CEE investicni spolecnost a.s. bought a new stake in shares of Southern Copper in the fourth quarter worth about $1,364,000. 7.94% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SCCO has been the topic of several research reports. Morgan Stanley raised Southern Copper from an “underweight” rating to an “equal weight” rating and reduced their target price for the stock from $106.30 to $102.00 in a report on Thursday, December 12th. JPMorgan Chase & Co. raised Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 target price on the stock in a report on Monday, December 2nd. Four analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, Southern Copper has a consensus rating of “Hold” and an average target price of $94.81.

Southern Copper Trading Up 0.2 %

Shares of NYSE SCCO opened at $91.02 on Friday. The business’s 50 day moving average is $93.83 and its two-hundred day moving average is $101.10. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.77 and a quick ratio of 2.31. Southern Copper Co. has a 1-year low of $84.33 and a 1-year high of $129.79. The stock has a market capitalization of $71.50 billion, a P/E ratio of 21.07, a PEG ratio of 1.90 and a beta of 1.12.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings data on Wednesday, February 12th. The basic materials company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.02 by ($0.01). Southern Copper had a return on equity of 40.27% and a net margin of 29.53%. As a group, research analysts expect that Southern Copper Co. will post 4.66 EPS for the current year.

Southern Copper Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Tuesday, February 11th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.08%. The ex-dividend date was Tuesday, February 11th. This is a positive change from Southern Copper’s previous quarterly dividend of $0.60. Southern Copper’s payout ratio is 64.81%.

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.