Advisors Asset Management Inc. Trims Stake in Southern Copper Corporation $SCCO

Advisors Asset Management Inc. decreased its stake in shares of Southern Copper Corporation (NYSE:SCCO) by 11.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 26,478 shares of the basic materials company’s stock after selling 3,388 shares during the period. Advisors Asset Management Inc.’s holdings in Southern Copper were worth $3,213,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. ABC Arbitrage SA purchased a new stake in Southern Copper during the 3rd quarter worth about $869,000. First National Trust Co grew its holdings in shares of Southern Copper by 1.0% during the third quarter. First National Trust Co now owns 38,998 shares of the basic materials company’s stock worth $4,733,000 after buying an additional 389 shares in the last quarter. General Pension Society PZU Joint Stock Co raised its position in shares of Southern Copper by 1.0% in the third quarter. General Pension Society PZU Joint Stock Co now owns 393,286 shares of the basic materials company’s stock valued at $47,729,000 after buying an additional 3,932 shares during the last quarter. Prospera Financial Services Inc lifted its stake in shares of Southern Copper by 6.7% during the third quarter. Prospera Financial Services Inc now owns 3,684 shares of the basic materials company’s stock valued at $447,000 after buying an additional 231 shares during the period. Finally, Hopwood Financial Services Inc. acquired a new stake in Southern Copper during the third quarter worth approximately $25,000. 7.94% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Bonilla Luis Miguel Palomino sold 403 shares of the stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $137.83, for a total value of $55,544.87. Following the completion of the transaction, the director owned 1,275 shares of the company’s stock, valued at approximately $175,731.28. This represents a 24.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Lerdo De Tejada Leon Contreras sold 9,326 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $209.56, for a total value of $1,954,344.91. Following the sale, the director owned 605 shares of the company’s stock, valued at approximately $126,783.04. This trade represents a 93.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.07% of the company’s stock.

Southern Copper Stock Performance

Southern Copper stock opened at $198.03 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 3.91 and a current ratio of 4.52. Southern Copper Corporation has a one year low of $74.84 and a one year high of $218.81. The stock’s 50 day moving average price is $168.45 and its 200 day moving average price is $134.64. The firm has a market capitalization of $160.84 billion, a PE ratio of 37.22, a price-to-earnings-growth ratio of 1.63 and a beta of 1.07.

Southern Copper Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Tuesday, February 10th will be issued a $1.00 dividend. The ex-dividend date is Tuesday, February 10th. This represents a $4.00 dividend on an annualized basis and a yield of 2.0%. This is an increase from Southern Copper’s previous quarterly dividend of $0.90. Southern Copper’s dividend payout ratio (DPR) is presently 75.19%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Zacks Research lowered Southern Copper from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 8th. UBS Group reiterated a “sell” rating and set a $148.74 target price (up from $146.75) on shares of Southern Copper in a research report on Tuesday, February 3rd. Morgan Stanley restated an “underweight” rating and issued a $154.69 target price on shares of Southern Copper in a report on Friday, January 30th. The Goldman Sachs Group reissued a “sell” rating and set a $127.91 price objective on shares of Southern Copper in a research note on Wednesday, January 14th. Finally, Citigroup restated a “sell” rating on shares of Southern Copper in a report on Monday, January 12th. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and seven have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $136.49.

Southern Copper Company 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.