Strengthening Families & Communities LLC Sells 418 Shares of Southern Copper Corporation $SCCO

Strengthening Families & Communities LLC reduced its position in Southern Copper Corporation (NYSE:SCCO) by 1.5% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 27,661 shares of the basic materials company’s stock after selling 418 shares during the period. Southern Copper accounts for approximately 1.5% of Strengthening Families & Communities LLC’s portfolio, making the stock its 19th largest holding. Strengthening Families & Communities LLC’s holdings in Southern Copper were worth $2,791,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Generali Investments CEE investicni spolecnost a.s. raised its stake in Southern Copper by 0.7% in the 1st quarter. Generali Investments CEE investicni spolecnost a.s. now owns 15,077 shares of the basic materials company’s stock valued at $1,409,000 after acquiring an additional 108 shares during the period. American Financial Advisors LLC raised its stake in Southern Copper by 1.1% in the 2nd quarter. American Financial Advisors LLC now owns 10,422 shares of the basic materials company’s stock valued at $1,054,000 after acquiring an additional 112 shares during the period. PDS Planning Inc increased its position in shares of Southern Copper by 3.7% during the second quarter. PDS Planning Inc now owns 3,330 shares of the basic materials company’s stock valued at $337,000 after buying an additional 119 shares during the period. IFM Investors Pty Ltd increased its position in shares of Southern Copper by 1.0% during the second quarter. IFM Investors Pty Ltd now owns 12,725 shares of the basic materials company’s stock valued at $1,287,000 after buying an additional 124 shares during the period. Finally, Zurich Insurance Group Ltd FI increased its position in shares of Southern Copper by 0.7% during the first quarter. Zurich Insurance Group Ltd FI now owns 17,331 shares of the basic materials company’s stock valued at $1,620,000 after buying an additional 125 shares during the period. 7.94% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SCCO has been the topic of several analyst reports. Morgan Stanley set a $132.00 price target on Southern Copper and gave the company an “equal weight” rating in a research report on Wednesday. The Goldman Sachs Group set a $89.00 price target on Southern Copper and gave the company a “sell” rating in a research report on Wednesday, September 17th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Southern Copper in a research report on Wednesday. UBS Group reiterated a “buy” rating on shares of Southern Copper in a research report on Friday, September 19th. Finally, Citigroup reiterated a “sell” rating and set a $108.00 price target (up from $89.10) on shares of Southern Copper in a research report on Wednesday. Two equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Southern Copper has an average rating of “Reduce” and an average target price of $109.88.

Southern Copper Stock Down 4.3%

Shares of NYSE SCCO opened at $125.00 on Friday. Southern Copper Corporation has a 12 month low of $74.84 and a 12 month high of $136.49. The company has a current ratio of 5.27, a quick ratio of 4.51 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $100.51 billion, a price-to-earnings ratio of 27.35, a PEG ratio of 1.31 and a beta of 1.02. The business has a 50-day moving average of $106.49 and a 200-day moving average of $97.97.

Southern Copper Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Friday, August 15th were issued a dividend of $1.01 per share. The ex-dividend date of this dividend was Friday, August 15th. This is a positive change from Southern Copper’s previous quarterly dividend of $0.62. This represents a $4.04 annualized dividend and a dividend yield of 3.2%. Southern Copper’s payout ratio is presently 70.02%.

Insider Activity at Southern Copper

In other news, Director Bonilla Luis Miguel Palomino sold 414 shares of the business’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $100.00, for a total transaction of $41,400.00. Following the completion of the transaction, the director owned 2,327 shares of the company’s stock, valued at approximately $232,700. The trade was a 15.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 1,228 shares of company stock worth $123,102 over the last ninety days. 0.07% of the stock is currently owned by 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.