Southern Copper Corporation $SCCO Shares Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. lowered its stake in Southern Copper Corporation (NYSE:SCCO) by 7.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,403 shares of the basic materials company’s stock after selling 362 shares during the quarter. Vontobel Holding Ltd.’s holdings in Southern Copper were worth $445,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Independent Solutions Wealth Management LLC lifted its position in Southern Copper by 1.1% in the second quarter. Independent Solutions Wealth Management LLC now owns 22,938 shares of the basic materials company’s stock valued at $2,321,000 after buying an additional 255 shares during the last quarter. KLP Kapitalforvaltning AS lifted its position in Southern Copper by 1.0% in the second quarter. KLP Kapitalforvaltning AS now owns 36,537 shares of the basic materials company’s stock valued at $3,696,000 after buying an additional 357 shares during the last quarter. Tyche Wealth Partners LLC lifted its position in shares of Southern Copper by 1.0% during the second quarter. Tyche Wealth Partners LLC now owns 20,148 shares of the basic materials company’s stock worth $2,038,000 after purchasing an additional 197 shares in the last quarter. Prime Capital Investment Advisors LLC lifted its position in shares of Southern Copper by 10.6% during the second quarter. Prime Capital Investment Advisors LLC now owns 6,216 shares of the basic materials company’s stock worth $629,000 after purchasing an additional 595 shares in the last quarter. Finally, Capital Advisors Inc. OK lifted its position in shares of Southern Copper by 1.3% during the second quarter. Capital Advisors Inc. OK now owns 277,035 shares of the basic materials company’s stock worth $28,028,000 after purchasing an additional 3,449 shares in the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Southern Copper Stock Down 1.8%

Shares of NYSE:SCCO opened at $130.79 on Wednesday. The firm’s 50 day moving average price is $108.01 and its 200 day moving average price is $98.48. The stock has a market cap of $105.16 billion, a price-to-earnings ratio of 28.62, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02. Southern Copper Corporation has a fifty-two week low of $74.84 and a fifty-two week high of $136.49. The company has a quick ratio of 4.51, a current ratio of 5.27 and a debt-to-equity ratio of 0.67.

Southern Copper Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Friday, August 15th were issued a $1.01 dividend. This represents a $4.04 annualized dividend 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 is 70.02%.

Insiders Place Their Bets

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 414 shares of the firm’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $100.00, for a total transaction of $41,400.00. Following the sale, the director owned 2,327 shares of the company’s stock, valued at approximately $232,700. This trade represents a 15.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 1,228 shares of company stock valued at $123,102 over the last 90 days. 0.07% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

SCCO has been the topic of several research reports. JPMorgan Chase & Co. increased their price target on shares of Southern Copper from $79.00 to $92.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 3rd. Jefferies Financial Group set a $155.00 price target on shares of Southern Copper and gave the stock a “buy” rating in a research report on Monday, October 6th. Morgan Stanley set a $132.00 price target on shares of Southern Copper and gave the stock an “equal weight” rating in a research report on Wednesday, October 8th. UBS Group reissued a “buy” rating on shares of Southern Copper in a research report on Friday, September 19th. Finally, Wells Fargo & Company raised shares of Southern Copper to a “hold” rating in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $109.88.

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.