Southern Copper Corp (SCCO) Position Trimmed by Quantitative Investment Management LLC
Quantitative Investment Management LLC lessened its holdings in shares of Southern Copper Corp (NYSE:SCCO) by 51.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 102,200 shares of the basic materials company’s stock after selling 109,900 shares during the period. Quantitative Investment Management LLC’s holdings in Southern Copper were worth $4,849,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in the stock. Dimensional Fund Advisors LP grew its holdings in Southern Copper by 0.3% in the second quarter. Dimensional Fund Advisors LP now owns 279,380 shares of the basic materials company’s stock valued at $9,675,000 after purchasing an additional 703 shares during the last quarter. CIBC Asset Management Inc grew its holdings in Southern Copper by 3.9% in the third quarter. CIBC Asset Management Inc now owns 32,449 shares of the basic materials company’s stock valued at $1,290,000 after purchasing an additional 1,225 shares during the last quarter. SG Americas Securities LLC grew its holdings in Southern Copper by 32.9% in the third quarter. SG Americas Securities LLC now owns 5,141 shares of the basic materials company’s stock valued at $204,000 after purchasing an additional 1,274 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in Southern Copper by 11.8% in the third quarter. Advisors Asset Management Inc. now owns 12,952 shares of the basic materials company’s stock valued at $515,000 after purchasing an additional 1,363 shares during the last quarter. Finally, Hansberger Growth Investors LP grew its holdings in Southern Copper by 2.6% in the fourth quarter. Hansberger Growth Investors LP now owns 55,441 shares of the basic materials company’s stock valued at $2,631,000 after purchasing an additional 1,383 shares during the last quarter. 6.86% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Bonilla Luis Miguel Palomino sold 600 shares of the stock in a transaction on Monday, March 5th. The stock was sold at an average price of $52.30, for a total transaction of $31,380.00. Following the sale, the director now owns 5,614 shares of the company’s stock, valued at $293,612.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.53% of the stock is owned by company insiders.
Shares of Southern Copper Corp (NYSE:SCCO) opened at $54.21 on Wednesday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.82 and a current ratio of 2.71. The company has a market capitalization of $42,044.99, a price-to-earnings ratio of 35.32 and a beta of 0.48. Southern Copper Corp has a 52 week low of $32.63 and a 52 week high of $55.52.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Tuesday, February 13th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, February 12th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.21%. This is a positive change from Southern Copper’s previous quarterly dividend of $0.25. Southern Copper’s dividend payout ratio (DPR) is presently 77.92%.
About Southern Copper
Southern Copper Corporation is an integrated copper producer. It produces copper and, in the production process, obtains several by-products, including molybdenum, silver, zinc, sulfuric acid and other metals. Its segments include the Peruvian operations, the Mexican open-pit operations and the Mexican underground mining operations segment identified as the IMMSA unit.
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