SG Americas Securities LLC Sells 90,824 Shares of Southern Copper Corporation $SCCO

SG Americas Securities LLC decreased its holdings in shares of Southern Copper Corporation (NYSE:SCCO) by 94.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,311 shares of the basic materials company’s stock after selling 90,824 shares during the quarter. SG Americas Securities LLC’s holdings in Southern Copper were worth $914,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Triad Wealth Partners LLC raised its position in shares of Southern Copper by 9.9% during the 1st quarter. Triad Wealth Partners LLC now owns 2,741 shares of the basic materials company’s stock valued at $472,000 after buying an additional 248 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its position in Southern Copper by 15.0% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 56,027 shares of the basic materials company’s stock worth $9,640,000 after acquiring an additional 7,305 shares in the last quarter. Diversified Trust Co increased its stake in Southern Copper by 29.9% in the first quarter. Diversified Trust Co now owns 10,636 shares of the basic materials company’s stock valued at $1,830,000 after acquiring an additional 2,446 shares during the last quarter. McAlvany Wealth Management LLC bought a new position in Southern Copper in the fourth quarter valued at $1,810,000. Finally, Purpose Unlimited Inc. purchased a new stake in Southern Copper during the fourth quarter valued at about $76,000. 7.94% of the stock is currently owned by institutional investors.

Southern Copper Stock Performance

Shares of SCCO opened at $171.73 on Monday. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.38 and a quick ratio of 3.89. Southern Copper Corporation has a one year low of $88.73 and a one year high of $223.88. The company has a 50-day simple moving average of $181.53 and a two-hundred day simple moving average of $180.10. The firm has a market capitalization of $141.86 billion, a PE ratio of 28.39, a price-to-earnings-growth ratio of 1.55 and a beta of 1.11.

Southern Copper Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Wednesday, May 13th were given a $1.00 dividend. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $4.00 annualized dividend and a dividend yield of 2.3%. Southern Copper’s dividend payout ratio is currently 66.12%.

Analyst Ratings Changes

SCCO has been the topic of a number of analyst reports. Wall Street Zen upgraded shares of Southern Copper from a “hold” rating to a “buy” rating in a research report on Saturday, June 27th. UBS Group reissued a “sell” rating and set a $160.00 target price (up from $145.00) on shares of Southern Copper in a research note on Tuesday, June 30th. Morgan Stanley upped their target price on Southern Copper from $155.00 to $160.00 and gave the company an “underweight” rating in a report on Thursday, April 9th. The Goldman Sachs Group raised Southern Copper from a “sell” rating to a “neutral” rating and set a $178.00 price target for the company in a research note on Friday, April 10th. Finally, Scotiabank reiterated an “underperform” rating and issued a $140.00 price target (up from $135.00) on shares of Southern Copper in a report on Monday, June 15th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and eight have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $147.19.

Insider Activity

In other news, Director Bonilla Luis Miguel Palomino sold 200 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The stock was 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last three months, insiders sold 404 shares of company stock valued at $74,108. 0.07% of the stock is currently owned by corporate insiders.

About Southern Copper

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.