Denali Advisors LLC Trims Stock Holdings in Southern Copper Co. (NYSE:SCCO)

Denali Advisors LLC lowered its stake in Southern Copper Co. (NYSE:SCCO) by 9.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,400 shares of the basic materials company’s stock after selling 700 shares during the quarter. Denali Advisors LLC’s holdings in Southern Copper were worth $682,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Fortis Group Advisors LLC lifted its position in shares of Southern Copper by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 302 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 151 shares in the last quarter. Riverview Trust Co purchased a new position in Southern Copper in the 1st quarter worth approximately $27,000. Viking Fund Management LLC purchased a new position in Southern Copper in the 4th quarter worth approximately $31,000. Venturi Wealth Management LLC boosted its stake in Southern Copper by 164.8% in the 4th quarter. Venturi Wealth Management LLC now owns 482 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 300 shares during the period. Finally, Washington Trust Advisors Inc. purchased a new stake in Southern Copper during the 4th quarter valued at approximately $45,000. 7.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Jefferies Financial Group raised shares of Southern Copper from a “hold” rating to a “buy” rating and boosted their target price for the stock from $91.00 to $130.00 in a report on Friday, March 22nd. The Goldman Sachs Group increased their price objective 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. CICC Research assumed coverage on Southern Copper in a research report on Wednesday, April 24th. They set an “outperform” rating for the company. Scotiabank decreased 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, Morgan Stanley raised their price target on Southern Copper from $81.70 to $100.00 and gave the company an “underweight” rating in a report on Friday, June 21st. Five analysts have rated the stock with a sell rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $84.50.

Insider Buying and Selling at Southern Copper

In related news, Director PALOMINO BONILLA LUIS MIGUEL sold 3,600 shares of Southern Copper stock in a transaction dated 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 directly owns 2,214 shares of the company’s stock, valued at approximately $261,916.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director PALOMINO BONILLA LUIS MIGUEL sold 3,600 shares of the stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $118.30, for a total value of $425,880.00. Following the sale, the director now directly owns 2,214 shares in the company, valued at $261,916.20. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Bonilla Luis Miguel Palomino sold 300 shares of the business’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 owns 4,614 shares of the company’s stock, valued at approximately $546,759. The disclosure for this sale can be found here. Insiders have sold 4,000 shares of company stock worth $472,430 over the last quarter. Insiders own 0.08% of the company’s stock.

Southern Copper Stock Up 5.6 %

Shares of NYSE:SCCO opened at $116.07 on Thursday. The company has a market cap of $90.67 billion, a price-to-earnings ratio of 38.58, a PEG ratio of 1.08 and a beta of 1.19. Southern Copper Co. has a 12 month low of $67.64 and a 12 month high of $129.79. The company has a current ratio of 3.31, a quick ratio of 2.56 and a debt-to-equity ratio of 0.82. The company has a 50-day moving average price of $114.37 and a 200 day moving average price of $99.38.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings data 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 business had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.50 billion. Southern Copper had a return on equity of 30.44% and a net margin of 24.20%. As a group, equities research analysts predict that Southern Copper Co. will post 4.45 earnings per share for the current year.

Southern Copper Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Wednesday, May 8th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date was Tuesday, May 7th. Southern Copper’s dividend payout ratio (DPR) is 1.33%.

Southern Copper 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.