Sava Infond d.o.o. Sells 994 Shares of Southern Copper Corporation $SCCO

Sava Infond d.o.o. decreased its position in Southern Copper Corporation (NYSE:SCCO) by 4.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 19,203 shares of the basic materials company’s stock after selling 994 shares during the quarter. Sava Infond d.o.o.’s holdings in Southern Copper were worth $1,943,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cullen Frost Bankers Inc. raised its stake in shares of Southern Copper by 117.6% during the 1st quarter. Cullen Frost Bankers Inc. now owns 272 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 147 shares in the last quarter. Golden State Wealth Management LLC bought a new stake in shares of Southern Copper during the 1st quarter worth approximately $29,000. N.E.W. Advisory Services LLC bought a new stake in shares of Southern Copper during the 1st quarter worth approximately $34,000. Quarry LP bought a new stake in shares of Southern Copper during the 1st quarter worth approximately $41,000. Finally, Hilltop National Bank bought a new stake in shares of Southern Copper during the 2nd quarter worth approximately $53,000. Institutional investors own 7.94% of the company’s stock.

Southern Copper Trading Up 2.5%

SCCO stock opened at $128.46 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 5.27 and a quick ratio of 4.51. The company has a fifty day moving average price of $102.99 and a two-hundred day moving average price of $96.97. Southern Copper Corporation has a one year low of $74.84 and a one year high of $129.83. The stock has a market cap of $103.29 billion, a price-to-earnings ratio of 28.11, a price-to-earnings-growth ratio of 1.28 and a beta of 1.02.

Southern Copper Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Friday, August 15th were given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 3.1%. This is a positive change from Southern Copper’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Friday, August 15th. Southern Copper’s dividend payout ratio (DPR) is presently 70.02%.

Wall Street Analyst Weigh In

SCCO has been the topic of a number of analyst reports. JPMorgan Chase & Co. upped their price objective on Southern Copper from $79.00 to $92.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 3rd. Itau BBA Securities upgraded Southern Copper from an “underperform” rating to a “market perform” rating in a research note on Wednesday, June 11th. UBS Group reiterated a “buy” rating on shares of Southern Copper in a research note on Friday, September 19th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Southern Copper in a research note on Saturday, September 27th. Finally, The Goldman Sachs Group set a $89.00 price target on Southern Copper and gave the company a “sell” rating in a research note on Wednesday, September 17th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $92.40.

Insiders Place Their Bets

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 414 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $100.00, for a total transaction of $41,400.00. Following the transaction, the director owned 2,327 shares in the company, valued at $232,700. This trade represents a 15.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders sold 1,228 shares of company stock worth $123,102. 0.07% of the stock is owned by company insiders.

Southern Copper Company 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.