Saturna Capital Corp Has $1.25 Million Stock Position in Southern Copper Corporation $SCCO

Saturna Capital Corp cut its holdings in shares of Southern Copper Corporation (NYSE:SCCO) by 83.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,282 shares of the basic materials company’s stock after selling 35,957 shares during the period. Saturna Capital Corp’s holdings in Southern Copper were worth $1,253,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Norges Bank bought a new position in shares of Southern Copper in the 4th quarter valued at $97,645,000. Capital Research Global Investors bought a new stake in shares of Southern Copper during the 4th quarter worth $81,039,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Southern Copper during the 4th quarter worth $46,560,000. USS Investment Management Ltd boosted its stake in Southern Copper by 904.8% in the fourth quarter. USS Investment Management Ltd now owns 301,655 shares of the basic materials company’s stock valued at $43,272,000 after buying an additional 271,634 shares in the last quarter. Finally, Lord Abbett & CO. LLC acquired a new stake in Southern Copper in the fourth quarter valued at about $35,095,000. Institutional investors and hedge funds own 7.94% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on SCCO. Wall Street Zen raised Southern Copper from a “hold” rating to a “buy” rating in a research note on Saturday, June 27th. Barclays restated an “underweight” rating and issued a $160.00 price target (up from $148.00) on shares of Southern Copper in a research note on Wednesday, July 15th. Zacks Research raised shares of Southern Copper from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 9th. The Goldman Sachs Group upgraded shares of Southern Copper from a “sell” rating to a “neutral” rating and set a $178.00 price objective for the company in a research report on Friday, April 10th. Finally, Morgan Stanley increased their price objective on shares of Southern Copper from $146.00 to $158.00 and gave the company an “underweight” rating in a research note on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have issued a Hold rating and seven have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $148.10.

Insider Activity

In related news, Director Bonilla Luis Miguel Palomino sold 200 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $177.82, for a total value of $35,564.00. Following the completion of the transaction, the director owned 1,807 shares in the company, valued at $321,320.74. This trade represents a 9.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 404 shares of company stock valued at $74,108 over the last three months. Corporate insiders own 0.07% of the company’s stock.

Southern Copper Price Performance

Shares of SCCO opened at $187.92 on Wednesday. Southern Copper Corporation has a 12-month low of $88.73 and a 12-month high of $223.88. The business has a 50-day simple moving average of $180.76 and a two-hundred day simple moving average of $182.80. 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 stock has a market cap of $155.24 billion, a PE ratio of 31.06, a PEG ratio of 1.50 and a beta of 1.11.

Southern Copper shares are scheduled to split on the morning of Tuesday, August 11th. The 1.012-1 split was recently announced. The newly issued shares will be issued to shareholders after the market closes on Monday, August 10th.

Southern Copper Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Tuesday, August 11th will be paid a $1.10 dividend. This is an increase from Southern Copper’s previous quarterly dividend of $1.00. This represents a $4.40 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, August 11th. Southern Copper’s payout ratio is currently 72.73%.

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.