Barings LLC Has $6.03 Million Holdings in Southern Copper Corporation $SCCO

Barings LLC trimmed its holdings in Southern Copper Corporation (NYSE:SCCO) by 43.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,037 shares of the basic materials company’s stock after selling 26,441 shares during the quarter. Barings LLC’s holdings in Southern Copper were worth $6,028,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. SHP Wealth Management bought a new position in Southern Copper during the fourth quarter worth $25,000. Lloyd Advisory Services LLC. bought a new stake in Southern Copper in the 4th quarter valued at $29,000. Virtus Advisers LLC acquired a new stake in Southern Copper in the 4th quarter worth $29,000. Godfrey Financial Associates Inc. bought a new position in shares of Southern Copper during the 4th quarter worth about $30,000. Finally, IFP Advisors Inc increased its holdings in shares of Southern Copper by 233.3% during the 4th quarter. IFP Advisors Inc now owns 230 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 161 shares during the period. Institutional investors and hedge funds own 7.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of Southern Copper from $127.00 to $131.50 and gave the company an “underweight” rating in a research note on Wednesday, June 17th. Wall Street Zen raised Southern Copper from a “hold” rating to a “buy” rating in a report on Saturday, June 27th. Wells Fargo & Company raised their price objective on Southern Copper from $171.00 to $172.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 9th. Citigroup reissued a “positive” rating on shares of Southern Copper in a report on Wednesday. Finally, Morgan Stanley boosted their price objective on Southern Copper from $146.00 to $158.00 and gave the company an “underweight” rating in a research report on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have issued a Hold rating and seven have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $148.10.

Insider Buying and Selling

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 200 shares of the company’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 sale, the director directly owned 1,807 shares of the company’s stock, valued at approximately $321,320.74. This represents a 9.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 404 shares of company stock valued at $74,108 in the last quarter. 0.07% of the stock is owned by insiders.

Southern Copper Stock Down 3.1%

Shares of NYSE:SCCO opened at $175.89 on Friday. The company’s fifty day moving average is $181.30 and its 200-day moving average is $182.06. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.89 and a current ratio of 4.38. Southern Copper Corporation has a 52 week low of $88.73 and a 52 week high of $223.88. The company has a market capitalization of $145.30 billion, a PE ratio of 29.07, a P/E/G ratio of 1.55 and a beta of 1.11.

Southern Copper Dividend Announcement

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

Southern Copper Profile

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.