Bollard Group LLC Reduces Holdings in Southern Copper Corporation $SCCO

Bollard Group LLC trimmed its holdings in Southern Copper Corporation (NYSE:SCCO) by 15.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 756,187 shares of the basic materials company’s stock after selling 134,764 shares during the period. Southern Copper comprises about 2.7% of Bollard Group LLC’s holdings, making the stock its 8th largest position. Bollard Group LLC’s holdings in Southern Copper were worth $108,601,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in SCCO. Capital World Investors lifted its stake in shares of Southern Copper by 36.1% in the third quarter. Capital World Investors now owns 6,437,608 shares of the basic materials company’s stock valued at $781,268,000 after buying an additional 1,708,693 shares in the last quarter. Norges Bank bought a new position in shares of Southern Copper in the fourth quarter valued at $97,645,000. Capital Research Global Investors bought a new position in shares of Southern Copper in the fourth quarter valued at $81,039,000. Arrowstreet Capital Limited Partnership bought a new position in shares of Southern Copper in the fourth quarter valued at $46,560,000. Finally, Lord Abbett & CO. LLC bought a new position in shares of Southern Copper in the fourth quarter valued at $35,095,000. 7.94% of the stock is owned by institutional investors.

Insider Transactions at Southern Copper

In related news, Director Bonilla Luis Miguel Palomino sold 200 shares of the firm’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $177.82, for a total transaction of $35,564.00. Following the completion of the sale, the director owned 1,807 shares in the company, valued at approximately $321,320.74. This trade represents a 9.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold a total of 404 shares of company stock worth $74,108 in the last three months. Company insiders own 0.07% of the company’s stock.

Southern Copper Stock Performance

Shares of SCCO stock opened at $189.72 on Friday. The firm has a 50-day moving average of $183.38 and a 200-day moving average of $175.21. The company has a market cap of $155.40 billion, a P/E ratio of 31.36, a P/E/G ratio of 1.79 and a beta of 1.09. 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.

Southern Copper (NYSE:SCCO) last announced its earnings results on Wednesday, April 29th. The basic materials company reported $1.92 EPS for the quarter, beating the consensus estimate of $1.88 by $0.04. The company had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $3.96 billion. Southern Copper had a net margin of 34.13% and a return on equity of 45.63%. Equities research analysts forecast that Southern Copper Corporation will post 7.25 EPS for the current fiscal year.

Southern Copper Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Wednesday, May 13th were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Wednesday, May 13th. Southern Copper’s dividend payout ratio (DPR) is 66.12%.

Analyst Upgrades and Downgrades

SCCO has been the topic of a number of recent research reports. Barclays initiated coverage on shares of Southern Copper in a research note on Thursday, May 21st. They issued an “underweight” rating and a $148.00 price objective on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Southern Copper in a research note on Friday, March 27th. The Goldman Sachs Group upgraded shares of Southern Copper from a “sell” rating to a “neutral” rating and set a $178.00 target price for the company in a report on Friday, April 10th. UBS Group increased their target price on shares of Southern Copper from $140.00 to $145.00 and gave the company a “sell” rating in a report on Thursday, May 21st. Finally, Scotiabank reiterated an “underperform” rating and issued a $135.00 target price (up from $133.00) on shares of Southern Copper in a report on Friday, May 15th. Two equities research 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. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $145.14.

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.