Southern Copper Co. (NYSE:SCCO) Shares Sold by Hexagon Capital Partners LLC

Hexagon Capital Partners LLC trimmed its position in Southern Copper Co. (NYSE:SCCO) by 3.6% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,502 shares of the basic materials company’s stock after selling 94 shares during the period. Hexagon Capital Partners LLC’s holdings in Southern Copper were worth $267,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SCCO. AQR Capital Management LLC grew its position in shares of Southern Copper by 7.0% in the 3rd quarter. AQR Capital Management LLC now owns 80,682 shares of the basic materials company’s stock worth $6,075,000 after acquiring an additional 5,296 shares in the last quarter. Tyche Wealth Partners LLC acquired a new position in Southern Copper in the fourth quarter worth $1,668,000. Los Angeles Capital Management LLC increased its stake in Southern Copper by 471.0% during the first quarter. Los Angeles Capital Management LLC now owns 31,655 shares of the basic materials company’s stock valued at $3,372,000 after purchasing an additional 26,111 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Southern Copper by 378.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 166,398 shares of the basic materials company’s stock worth $14,322,000 after purchasing an additional 131,651 shares during the period. Finally, Raymond James Financial Services Advisors Inc. lifted its position in shares of Southern Copper by 119.8% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 41,223 shares of the basic materials company’s stock worth $3,548,000 after buying an additional 22,471 shares during the last quarter. 7.94% of the stock is owned by institutional investors.

Southern Copper Price Performance

Shares of SCCO opened at $108.69 on Tuesday. Southern Copper Co. has a one year low of $67.64 and a one year high of $129.79. The stock’s fifty day moving average is $114.42 and its 200-day moving average is $98.99. The company has a debt-to-equity ratio of 0.82, a quick ratio of 2.56 and a current ratio of 3.31. The firm has a market capitalization of $84.90 billion, a price-to-earnings ratio of 36.13, a price-to-earnings-growth ratio of 1.06 and a beta of 1.20.

Southern Copper (NYSE:SCCO) last announced its earnings results on Thursday, April 25th. The basic materials company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.17. Southern Copper had a net margin of 24.20% and a return on equity of 30.44%. The firm had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.50 billion. Equities analysts anticipate that Southern Copper Co. will post 4.45 EPS for the current year.

Southern Copper Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Wednesday, May 8th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.04%. The ex-dividend date was Tuesday, May 7th. Southern Copper’s payout ratio is currently 1.33%.

Insider Activity

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

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SCCO. StockNews.com raised shares of Southern Copper from a “hold” rating to a “buy” rating in a research report on Wednesday, May 15th. Morgan Stanley increased their price target on Southern Copper from $81.70 to $100.00 and gave the stock an “underweight” rating in a research report on Friday, June 21st. HSBC lowered Southern Copper from a “hold” rating to a “reduce” rating and set a $80.00 price objective for the company. in a research report on Monday, April 22nd. Scotiabank dropped their target price on Southern Copper from $55.00 to $54.00 and set a “sector underperform” rating on the stock in a research report on Tuesday, May 21st. Finally, The Goldman Sachs Group boosted their price target on shares of Southern Copper from $61.00 to $82.00 and gave the company a “sell” rating in a report on Friday, March 22nd. Five investment analysts have rated the stock with a sell rating and three have issued a buy rating to the stock. According to MarketBeat, Southern Copper has an average rating of “Hold” and a consensus price target 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.