APG Asset Management N.V. Has $5.83 Million Stake in Southern Copper Corporation $SCCO

APG Asset Management N.V. decreased its holdings in Southern Copper Corporation (NYSE:SCCO) by 10.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 48,030 shares of the basic materials company’s stock after selling 5,883 shares during the quarter. APG Asset Management N.V.’s holdings in Southern Copper were worth $5,829,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in SCCO. Hopwood Financial Services Inc. bought a new position in shares of Southern Copper in the third quarter valued at about $25,000. MJT & Associates Financial Advisory Group Inc. increased its position in Southern Copper by 65.1% in the 3rd 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. Tobam bought a new position in shares of Southern Copper in the second quarter worth about $29,000. United Community Bank acquired a new position in shares of Southern Copper during the third quarter worth approximately $30,000. Finally, Caitlin John LLC acquired a new position in shares of Southern Copper during the third quarter worth approximately $30,000. Institutional investors own 7.94% of the company’s stock.

Insider Transactions at Southern Copper

In related news, Director Lerdo De Tejada Leon Contreras sold 9,326 shares of the business’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 transaction of $1,954,344.91. Following the completion of the transaction, the director owned 605 shares in the company, valued at approximately $126,783.04. The trade was a 93.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.07% of the company’s stock.

Wall Street Analysts Forecast Growth

SCCO has been the subject of several research analyst reports. Zacks Research cut shares of Southern Copper from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 8th. Weiss Ratings reissued a “buy (b)” rating on shares of Southern Copper in a research note on Monday, December 29th. The Goldman Sachs Group reaffirmed a “sell” rating and set a $127.91 price target on shares of Southern Copper in a research note on Wednesday, January 14th. Citigroup reiterated a “sell” rating on shares of Southern Copper in a research report on Monday, January 12th. Finally, Wells Fargo & Company set a $190.38 price objective on Southern Copper and gave the stock an “equal weight” rating in a report on Thursday, January 29th. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and eight have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $139.99.

Southern Copper Trading Down 5.7%

NYSE:SCCO opened at $206.44 on Wednesday. The company has a current ratio of 4.52, a quick ratio of 3.91 and a debt-to-equity ratio of 0.64. Southern Copper Corporation has a 1-year low of $74.84 and a 1-year high of $223.88. The firm has a market capitalization of $167.67 billion, a price-to-earnings ratio of 38.80, a PEG ratio of 2.26 and a beta of 1.03. The business’s 50-day moving average price is $183.64 and its two-hundred day moving average price is $144.27.

Southern Copper Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Tuesday, February 10th were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Tuesday, February 10th. This is a positive change from Southern Copper’s previous quarterly dividend of $0.90. Southern Copper’s payout ratio is 75.19%.

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.