Southern Copper Corporation $SCCO Shares Sold by Deprince Race & Zollo Inc.

Deprince Race & Zollo Inc. reduced its holdings in shares of Southern Copper Corporation (NYSE:SCCO) by 24.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 89,476 shares of the basic materials company’s stock after selling 29,234 shares during the quarter. Deprince Race & Zollo Inc.’s holdings in Southern Copper were worth $10,859,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in SCCO. MJT & Associates Financial Advisory Group Inc. raised its holdings in Southern Copper by 65.1% in the third quarter. MJT & Associates Financial Advisory Group Inc. now owns 213 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 84 shares in the last quarter. Avanza Fonder AB increased its position in shares of Southern Copper by 1.0% in the 3rd quarter. Avanza Fonder AB now owns 8,663 shares of the basic materials company’s stock worth $1,051,000 after purchasing an additional 86 shares during the last quarter. Vontobel Holding Ltd. raised its stake in shares of Southern Copper by 2.4% in the 3rd quarter. Vontobel Holding Ltd. now owns 4,510 shares of the basic materials company’s stock valued at $547,000 after purchasing an additional 107 shares in the last quarter. American Financial Advisors LLC lifted its position in shares of Southern Copper by 1.1% during the second quarter. American Financial Advisors LLC now owns 10,422 shares of the basic materials company’s stock worth $1,054,000 after purchasing an additional 112 shares during the last quarter. Finally, Mutual Advisors LLC grew its stake in Southern Copper by 1.7% in the second quarter. Mutual Advisors LLC now owns 6,577 shares of the basic materials company’s stock worth $646,000 after purchasing an additional 113 shares in the last quarter. Institutional investors own 7.94% of the company’s stock.

Southern Copper Price Performance

Shares of SCCO opened at $149.49 on Monday. Southern Copper Corporation has a 12 month low of $74.84 and a 12 month high of $152.19. The company has a debt-to-equity ratio of 0.64, a current ratio of 4.52 and a quick ratio of 3.91. The stock has a fifty day moving average price of $136.61 and a 200 day moving average price of $115.93. The company has a market cap of $121.42 billion, a P/E ratio of 31.34, a PEG ratio of 1.38 and a beta of 1.07.

Southern Copper (NYSE:SCCO) last announced its quarterly earnings results on Friday, October 31st. The basic materials company reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.09. Southern Copper had a net margin of 30.98% and a return on equity of 38.74%. The company had revenue of $3.38 billion during the quarter, compared to the consensus estimate of $3.05 billion. On average, research analysts forecast that Southern Copper Corporation will post 4.66 earnings per share for the current year.

Southern Copper Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Wednesday, November 12th were paid a $0.90 dividend. The ex-dividend date was Wednesday, November 12th. This represents a $3.60 annualized dividend and a dividend yield of 2.4%. Southern Copper’s dividend payout ratio (DPR) is presently 75.47%.

Wall Street Analysts Forecast Growth

SCCO has been the topic of several research reports. Wells Fargo & Company set a $144.00 price objective on Southern Copper and gave the company an “equal weight” rating in a research note on Tuesday, December 23rd. JPMorgan Chase & Co. boosted their price target on Southern Copper from $114.50 to $119.50 and gave the company a “neutral” rating in a report on Thursday, December 18th. Wall Street Zen upgraded Southern Copper from a “hold” rating to a “buy” rating in a research note on Sunday. Zacks Research downgraded shares of Southern Copper from a “strong-buy” rating to a “hold” rating in a report on Monday, December 8th. Finally, UBS Group reiterated a “neutral” rating and set a $143.00 target price (up previously from $135.00) on shares of Southern Copper in a research note on Friday, December 12th. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, Southern Copper has an average rating of “Reduce” and a consensus price target of $123.85.

Insider Buying and Selling at Southern Copper

In other news, Director Bonilla Luis Miguel Palomino sold 400 shares of the business’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $139.00, for a total transaction of $55,600.00. Following the completion of the transaction, the director directly owned 1,265 shares in the company, valued at approximately $175,835. The trade was a 24.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold a total of 948 shares of company stock worth $131,130 over the last quarter. Insiders own 0.07% of the company’s stock.

Southern Copper Profile

Southern Copper Corporation (NYSE: SCCO) is a large, integrated copper producer whose operations span the full value chain from exploration and mining to smelting, refining and the sale of copper and other metal products. The company produces a range of copper products including copper concentrate and refined cathodes, and recovers valuable byproducts such as molybdenum, silver and zinc. Southern Copper concentrates on high-volume, long-life assets designed to support steady production and processing capabilities.

Southern Copper’s operations are concentrated in Peru and Mexico, where it owns and operates multiple large-scale mining and processing facilities.