Strs Ohio Cuts Position in Southern Copper Corporation $SCCO

Strs Ohio decreased its stake in Southern Copper Corporation (NYSE:SCCO) by 13.3% in the 1st quarter, Holdings Channel reports. The firm owned 126,430 shares of the basic materials company’s stock after selling 19,373 shares during the quarter. Strs Ohio’s holdings in Southern Copper were worth $21,754,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in SCCO. SHP Wealth Management acquired a new position in Southern Copper during the fourth quarter worth about $25,000. Lloyd Advisory Services LLC. purchased a new stake in shares of Southern Copper during the 4th quarter worth approximately $29,000. Virtus Advisers LLC purchased a new stake in shares of Southern Copper during the 4th quarter worth approximately $29,000. Godfrey Financial Associates Inc. acquired a new stake in shares of Southern Copper in the 4th quarter worth approximately $30,000. Finally, IFP Advisors Inc grew its holdings in shares of Southern Copper by 233.3% in the 4th quarter. IFP Advisors Inc now owns 230 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 161 shares during the period. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on SCCO shares. Wall Street Zen raised Southern Copper from a “hold” rating to a “buy” rating in a report on Saturday, June 27th. Morgan Stanley upped their target price on Southern Copper from $155.00 to $160.00 and gave the company an “underweight” rating in a report on Thursday, April 9th. Wells Fargo & Company set a $171.00 price target on Southern Copper and gave the company an “equal weight” rating in a research report on Friday, May 1st. Barclays assumed coverage on Southern Copper in a research note on Thursday, May 21st. They set an “underweight” rating and a $148.00 price target for the company. Finally, JPMorgan Chase & Co. increased their price objective on shares of Southern Copper from $127.00 to $131.50 and gave the company an “underweight” rating in a research note on Wednesday, June 17th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and eight have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $147.19.

Insider Activity at Southern Copper

In related news, Director Bonilla Luis Miguel Palomino sold 200 shares of Southern Copper stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $177.82, for a total transaction of $35,564.00. Following the completion of the sale, the director owned 1,807 shares in the company, valued at approximately $321,320.74. This trade represents a 9.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 404 shares of company stock worth $74,108 over the last quarter. 0.07% of the stock is owned by company insiders.

Southern Copper Price Performance

Shares of NYSE:SCCO opened at $171.73 on Friday. The business’s fifty day moving average price is $181.53 and its two-hundred day moving average price is $179.84. The stock has a market cap of $141.86 billion, a PE ratio of 28.39, a price-to-earnings-growth ratio of 1.55 and a beta of 1.11. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.89 and a current ratio of 4.38. Southern Copper Corporation has a one year low of $88.73 and a one year high of $223.88.

Southern Copper Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Wednesday, May 13th were given a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.3%. The ex-dividend date 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.