Southern Copper Co. (NYSE:SCCO) Shares Sold by Chapin Davis Inc.

Chapin Davis Inc. decreased its holdings in shares of Southern Copper Co. (NYSE:SCCO) by 6.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,725 shares of the basic materials company’s stock after selling 415 shares during the quarter. Chapin Davis Inc.’s holdings in Southern Copper were worth $610,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. FMR LLC boosted its holdings in Southern Copper by 222.1% in the third quarter. FMR LLC now owns 35,187 shares of the basic materials company’s stock valued at $2,649,000 after acquiring an additional 24,264 shares during the last quarter. LPL Financial LLC raised its position in Southern Copper by 22.1% in the third quarter. LPL Financial LLC now owns 89,468 shares of the basic materials company’s stock valued at $6,736,000 after purchasing an additional 16,168 shares during the period. Mariner LLC raised its position in Southern Copper by 5.5% in the third quarter. Mariner LLC now owns 33,527 shares of the basic materials company’s stock valued at $2,524,000 after purchasing an additional 1,745 shares during the period. Stifel Financial Corp raised its position in Southern Copper by 2.3% in the third quarter. Stifel Financial Corp now owns 33,218 shares of the basic materials company’s stock valued at $2,501,000 after purchasing an additional 740 shares during the period. Finally, Northern Trust Corp raised its position in Southern Copper by 2.9% in the third quarter. Northern Trust Corp now owns 821,452 shares of the basic materials company’s stock valued at $61,847,000 after purchasing an additional 22,791 shares during the period. Institutional investors and hedge funds own 7.94% of the company’s stock.

Southern Copper Price Performance

Shares of SCCO traded up $2.10 during mid-day trading on Monday, hitting $109.84. The company’s stock had a trading volume of 39,387 shares, compared to its average volume of 1,201,229. The company has a debt-to-equity ratio of 0.82, a current ratio of 3.31 and a quick ratio of 2.56. The firm has a 50-day moving average price of $114.42 and a 200 day moving average price of $98.99. Southern Copper Co. has a fifty-two week low of $67.64 and a fifty-two week high of $129.79. The stock has a market capitalization of $85.80 billion, a price-to-earnings ratio of 35.81, a PEG ratio of 1.06 and a beta of 1.20.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.17. The company had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.50 billion. Southern Copper had a return on equity of 30.44% and a net margin of 24.20%. On average, research analysts predict that Southern Copper Co. will post 4.45 EPS for the current fiscal year.

Southern Copper Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Stockholders of record on Wednesday, May 8th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. The ex-dividend date of this dividend was Tuesday, May 7th. Southern Copper’s dividend payout ratio (DPR) is currently 1.33%.

Insider Activity

In related news, Director PALOMINO BONILLA LUIS MIGUEL sold 3,600 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $118.30, for a total transaction of $425,880.00. Following the transaction, the director now directly owns 2,214 shares of the company’s stock, valued at $261,916.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Bonilla Luis Miguel Palomino sold 300 shares of the firm’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $118.50, for a total value of $35,550.00. Following the transaction, the director now directly owns 4,614 shares in the company, valued at approximately $546,759. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director PALOMINO BONILLA LUIS MIGUEL sold 3,600 shares of the firm’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $118.30, for a total transaction of $425,880.00. Following the completion of the transaction, the director now owns 2,214 shares in the company, valued at $261,916.20. The disclosure for this sale can be found here. Insiders have sold 4,100 shares of company stock worth $483,450 over the last 90 days. 0.08% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have commented on the company. HSBC lowered Southern Copper from a “hold” rating to a “reduce” rating and set a $80.00 price objective on the stock. in a research report on Monday, April 22nd. StockNews.com raised Southern Copper from a “hold” rating to a “buy” rating in a report on Wednesday, May 15th. CICC Research assumed coverage on Southern Copper in a report on Wednesday, April 24th. They issued an “outperform” rating for the company. JPMorgan Chase & Co. lowered their price objective on Southern Copper from $63.50 to $61.00 and set an “underweight” rating for the company in a report on Thursday, March 21st. Finally, The Goldman Sachs Group boosted their price objective on Southern Copper from $61.00 to $82.00 and gave the company a “sell” rating in a report on Friday, March 22nd. Five analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $84.50.

Southern Copper Company 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.