Southern Copper Corporation $SCCO Shares Sold by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. lowered its stake in shares of Southern Copper Corporation (NYSE:SCCO) by 42.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,528 shares of the basic materials company’s stock after selling 4,160 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Southern Copper were worth $963,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Royal Bank of Canada boosted its stake in Southern Copper by 42.1% in the 1st quarter. Royal Bank of Canada now owns 44,879 shares of the basic materials company’s stock worth $4,194,000 after purchasing an additional 13,293 shares in the last quarter. Empowered Funds LLC increased its stake in Southern Copper by 17.9% during the 1st quarter. Empowered Funds LLC now owns 6,705 shares of the basic materials company’s stock valued at $627,000 after purchasing an additional 1,020 shares in the last quarter. Focus Partners Wealth raised its holdings in shares of Southern Copper by 21.5% in the first quarter. Focus Partners Wealth now owns 5,944 shares of the basic materials company’s stock worth $556,000 after buying an additional 1,052 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Southern Copper by 37.4% in the second quarter. First Trust Advisors LP now owns 73,379 shares of the basic materials company’s stock worth $7,424,000 after buying an additional 19,957 shares during the last quarter. Finally, Baird Financial Group Inc. lifted its stake in shares of Southern Copper by 17.7% during the second quarter. Baird Financial Group Inc. now owns 4,864 shares of the basic materials company’s stock worth $492,000 after buying an additional 731 shares during the period. 7.94% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Southern Copper news, Director Luis Palomino Bonilla sold 202 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $196.79, for a total value of $39,751.28. Following the sale, the director owned 1,723 shares in the company, valued at approximately $339,066.65. This represents a 10.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In the last 90 days, insiders sold 404 shares of company stock valued at $77,077. Corporate insiders own 0.07% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on SCCO shares. Wall Street Zen lowered shares of Southern Copper from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Weiss Ratings raised Southern Copper from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, July 28th. CICC Research downgraded Southern Copper to a “market perform” rating in a research note on Sunday, July 26th. JPMorgan Chase & Co. increased their price objective on Southern Copper from $125.49 to $129.94 and gave the company an “underweight” rating in a report on Wednesday, June 17th. Finally, Wells Fargo & Company upped their target price on Southern Copper from $168.97 to $169.96 and gave the company an “equal weight” rating in a research report on Thursday, July 9th. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and seven have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $146.84.

Southern Copper Price Performance

Shares of SCCO opened at $198.17 on Friday. The business’s 50-day moving average is $187.43 and its two-hundred day moving average is $184.04. The company has a market capitalization of $165.34 billion, a P/E ratio of 28.97, a P/E/G ratio of 1.71 and a beta of 1.14. Southern Copper Corporation has a fifty-two week low of $99.87 and a fifty-two week high of $223.88. The company has a debt-to-equity ratio of 0.63, a quick ratio of 4.56 and a current ratio of 5.06.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings data on Wednesday, July 22nd. The basic materials company reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.06. Southern Copper had a return on equity of 49.04% and a net margin of 35.87%.The business had revenue of $4.29 billion during the quarter, compared to analysts’ expectations of $4.37 billion. The company’s revenue for the quarter was up 40.6% on a year-over-year basis. Research analysts predict that Southern Copper Corporation will post 7.59 earnings per share for the current year.

Southern Copper Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 27th. Shareholders of record on Tuesday, August 11th were issued a $1.10 dividend. The ex-dividend date of this dividend was Tuesday, August 11th. This is a boost from Southern Copper’s previous quarterly dividend of $1.00. This represents a $4.40 dividend on an annualized basis and a yield of 2.2%. Southern Copper’s dividend payout ratio is presently 64.33%.

Southern Copper Company 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.