Southern Copper Corporation $SCCO Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC trimmed its position in shares of Southern Copper Corporation (NYSE:SCCO) by 26.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,622 shares of the basic materials company’s stock after selling 944 shares during the quarter. Cresset Asset Management LLC’s holdings in Southern Copper were worth $245,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. JPMorgan Chase & Co. raised its stake in shares of Southern Copper by 26.3% during the 1st quarter. JPMorgan Chase & Co. now owns 1,551,878 shares of the basic materials company’s stock worth $145,039,000 after buying an additional 322,935 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Southern Copper by 10.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,354,637 shares of the basic materials company’s stock valued at $123,448,000 after acquiring an additional 130,710 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Southern Copper by 6.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,280,286 shares of the basic materials company’s stock worth $116,672,000 after acquiring an additional 78,769 shares during the last quarter. Northern Trust Corp raised its position in Southern Copper by 44.9% during the fourth quarter. Northern Trust Corp now owns 1,146,537 shares of the basic materials company’s stock worth $104,484,000 after acquiring an additional 355,013 shares during the last quarter. Finally, Driehaus Capital Management LLC lifted its holdings in shares of Southern Copper by 26.8% in the fourth quarter. Driehaus Capital Management LLC now owns 1,028,848 shares of the basic materials company’s stock valued at $93,759,000 after purchasing an additional 217,546 shares in the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Southern Copper Trading Up 0.7%

Shares of Southern Copper stock opened at $97.71 on Wednesday. Southern Copper Corporation has a fifty-two week low of $74.84 and a fifty-two week high of $121.44. The business’s fifty day moving average is $98.06 and its two-hundred day moving average is $94.00. The company has a quick ratio of 4.51, a current ratio of 5.27 and a debt-to-equity ratio of 0.67. The firm has a market cap of $78.57 billion, a PE ratio of 21.38, a P/E/G ratio of 1.42 and a beta of 1.00.

Southern Copper Increases Dividend

The firm also recently announced a — dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be given a dividend of $1.01 per share. This represents a yield of 270.0%. This is a boost from Southern Copper’s previous — dividend of $0.62. The ex-dividend date is Friday, August 15th. Southern Copper’s dividend payout ratio (DPR) is currently 70.02%.

Insider Transactions at Southern Copper

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 414 shares of Southern Copper stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $100.00, for a total value of $41,400.00. Following the completion of the sale, the director owned 2,327 shares in the company, valued at $232,700. The trade was a 15.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.07% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on SCCO. Wall Street Zen lowered shares of Southern Copper from a “buy” rating to a “hold” rating in a research report on Tuesday, May 20th. Morgan Stanley reiterated an “underweight” rating and set a $99.00 target price (up previously from $86.00) on shares of Southern Copper in a report on Tuesday, July 15th. Itau BBA Securities raised Southern Copper from an “underperform” rating to a “market perform” rating in a report on Wednesday, June 11th. JPMorgan Chase & Co. reduced their price objective on Southern Copper from $83.50 to $79.00 and set a “neutral” rating on the stock in a research report on Thursday, July 3rd. Finally, UBS Group lowered Southern Copper from a “buy” rating to a “neutral” rating and set a $105.00 price objective on the stock. in a research note on Tuesday, July 1st. Four analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $91.00.

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.