Baird Financial Group Inc. Sells 503 Shares of Southern Copper Corporation $SCCO

Baird Financial Group Inc. decreased its holdings in shares of Southern Copper Corporation (NYSE:SCCO) by 10.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 4,133 shares of the basic materials company’s stock after selling 503 shares during the period. Baird Financial Group Inc.’s holdings in Southern Copper were worth $386,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in SCCO. Vident Advisory LLC grew its holdings in shares of Southern Copper by 41.1% in the 1st quarter. Vident Advisory LLC now owns 12,229 shares of the basic materials company’s stock valued at $1,143,000 after buying an additional 3,560 shares during the period. Driehaus Capital Management LLC grew its holdings in shares of Southern Copper by 2.9% in the 1st quarter. Driehaus Capital Management LLC now owns 1,059,080 shares of the basic materials company’s stock valued at $98,982,000 after buying an additional 30,232 shares during the period. Canada Pension Plan Investment Board grew its holdings in shares of Southern Copper by 0.7% in the 1st quarter. Canada Pension Plan Investment Board now owns 234,283 shares of the basic materials company’s stock valued at $21,896,000 after buying an additional 1,697 shares during the period. State of Wyoming increased its holdings in shares of Southern Copper by 7.9% in the first quarter. State of Wyoming now owns 4,328 shares of the basic materials company’s stock worth $404,000 after acquiring an additional 317 shares in the last quarter. Finally, Trexquant Investment LP increased its holdings in shares of Southern Copper by 82.1% in the first quarter. Trexquant Investment LP now owns 166,221 shares of the basic materials company’s stock worth $15,535,000 after acquiring an additional 74,937 shares in the last quarter. Institutional investors own 7.94% of the company’s stock.

Analyst Upgrades and Downgrades

SCCO has been the subject of several recent analyst reports. JPMorgan Chase & Co. increased their price target on Southern Copper from $79.00 to $92.00 and gave the stock a “neutral” rating in a report on Wednesday, September 3rd. UBS Group downgraded Southern Copper from a “buy” rating to a “neutral” rating and set a $105.00 price target for the company. in a report on Tuesday, July 1st. Morgan Stanley reaffirmed an “underweight” rating and issued a $99.00 target price (up from $86.00) on shares of Southern Copper in a research note on Tuesday, July 15th. Wall Street Zen lowered shares of Southern Copper from a “buy” rating to a “hold” rating in a research note on Tuesday, May 20th. Finally, Itau BBA Securities raised shares of Southern Copper from an “underperform” rating to a “market perform” rating in a research note on Wednesday, June 11th. Four research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $93.60.

Southern Copper Trading Up 2.9%

Shares of NYSE:SCCO opened at $105.02 on Friday. Southern Copper Corporation has a 52-week low of $74.84 and a 52-week high of $121.44. The company has a market capitalization of $84.44 billion, a P/E ratio of 22.98, a price-to-earnings-growth ratio of 1.51 and a beta of 0.99. The company has a 50-day simple moving average of $98.11 and a 200 day simple moving average of $94.34. The company has a debt-to-equity ratio of 0.67, a quick ratio of 4.51 and a current ratio of 5.27.

Southern Copper Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Friday, August 15th were paid a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.8%. This is an increase from Southern Copper’s previous quarterly dividend of $0.62. The ex-dividend date was Friday, August 15th. Southern Copper’s dividend payout ratio is 70.02%.

Insider Buying and Selling at Southern Copper

In other news, Director Bonilla Luis Miguel Palomino sold 414 shares of the stock in a transaction that occurred 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 approximately $232,700. This trade represents a 15.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 1,028 shares of company stock worth $102,014 in the last 90 days. 0.07% of the stock is currently owned by company insiders.

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.