Chapin Davis Inc. Decreases Position in Southern Copper Corporation (NYSE:SCCO)

Chapin Davis Inc. reduced its holdings in shares of Southern Copper Corporation (NYSE:SCCO) by 19.1% during the first quarter, HoldingsChannel reports. The firm owned 4,694 shares of the basic materials company’s stock after selling 1,109 shares during the period. Chapin Davis Inc.’s holdings in Southern Copper were worth $439,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of SCCO. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Southern Copper during the 4th quarter valued at about $30,000. Deseret Mutual Benefit Administrators lifted its position in shares of Southern Copper by 210.7% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 379 shares of the basic materials company’s stock valued at $35,000 after acquiring an additional 257 shares in the last quarter. IFP Advisors Inc boosted its stake in Southern Copper by 143.4% in the 4th quarter. IFP Advisors Inc now owns 477 shares of the basic materials company’s stock worth $43,000 after purchasing an additional 281 shares during the period. Larson Financial Group LLC grew its stake in Southern Copper by 28.0% during the fourth quarter. Larson Financial Group LLC now owns 521 shares of the basic materials company’s stock valued at $48,000 after acquiring an additional 114 shares in the last quarter. Finally, Lee Danner & Bass Inc. purchased a new stake in shares of Southern Copper in the fourth quarter worth about $60,000. Institutional investors own 7.94% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Hsbc Global Res upgraded Southern Copper from a “moderate sell” rating to a “hold” rating in a research report on Thursday, April 24th. UBS Group dropped their target price on shares of Southern Copper from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. Scotiabank upped their price objective on shares of Southern Copper from $52.00 to $72.00 and gave the stock a “sector underperform” rating in a research note on Monday, March 10th. Wall Street Zen downgraded Southern Copper from a “buy” rating to a “hold” rating in a report on Tuesday, May 20th. Finally, Itau BBA Securities upgraded shares of Southern Copper from an “underperform” rating to a “market perform” rating in a research note on Wednesday, June 11th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Southern Copper currently has a consensus rating of “Hold” and a consensus target price of $91.50.

Southern Copper Stock Down 1.8%

SCCO stock opened at $93.51 on Monday. The firm has a market cap of $74.45 billion, a PE ratio of 20.46, a PEG ratio of 2.25 and a beta of 1.01. The company has a debt-to-equity ratio of 0.70, a quick ratio of 3.22 and a current ratio of 3.71. Southern Copper Corporation has a one year low of $74.11 and a one year high of $118.64. The firm’s 50 day moving average price is $91.98 and its 200-day moving average price is $93.01.

Southern Copper (NYSE:SCCO) last released its quarterly earnings results on Friday, April 25th. The basic materials company reported $1.19 EPS for the quarter, topping the consensus estimate of $1.05 by $0.14. The business had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.05 billion. Southern Copper had a return on equity of 39.39% and a net margin of 30.00%. On average, equities research analysts anticipate that Southern Copper Corporation will post 4.66 EPS for the current year.

Southern Copper Dividend Announcement

The business also recently disclosed a dividend, which was paid on Monday, May 19th. Stockholders of record on Monday, May 5th were paid a $0.70 dividend. This represents a dividend yield of 2.98%. The ex-dividend date was Friday, May 2nd. Southern Copper’s payout ratio is presently 61.27%.

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.