Southern Copper Co. (NYSE:SCCO) Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC lessened its stake in shares of Southern Copper Co. (NYSE:SCCO - Free Report) by 49.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,566 shares of the basic materials company's stock after selling 3,554 shares during the quarter. Cresset Asset Management LLC's holdings in Southern Copper were worth $325,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Crestline Management LP raised its stake in shares of Southern Copper by 38.7% during the fourth quarter. Crestline Management LP now owns 6,055 shares of the basic materials company's stock worth $552,000 after purchasing an additional 1,688 shares during the last quarter. Cetera Investment Advisers raised its position in Southern Copper by 3.1% in the fourth quarter. Cetera Investment Advisers now owns 33,180 shares of the basic materials company's stock worth $3,024,000 after acquiring an additional 995 shares in the last quarter. Bridgefront Capital LLC purchased a new position in Southern Copper in the fourth quarter worth $321,000. Captrust Financial Advisors raised its position in Southern Copper by 12.1% in the fourth quarter. Captrust Financial Advisors now owns 5,864 shares of the basic materials company's stock worth $534,000 after acquiring an additional 632 shares in the last quarter. Finally, Bearing Point Capital LLC purchased a new position in Southern Copper in the fourth quarter worth $257,000. Hedge funds and other institutional investors own 7.94% of the company's stock.

Southern Copper Price Performance

Shares of SCCO traded down $0.05 during trading hours on Tuesday, reaching $91.58. 779,324 shares of the company traded hands, compared to its average volume of 1,207,395. The stock has a fifty day simple moving average of $90.65 and a 200 day simple moving average of $94.57. The company has a quick ratio of 2.31, a current ratio of 2.77 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $72.91 billion, a PE ratio of 21.20, a price-to-earnings-growth ratio of 1.90 and a beta of 1.05. Southern Copper Co. has a fifty-two week low of $74.11 and a fifty-two week high of $126.09.

Southern Copper (NYSE:SCCO - Get Free Report) last released its earnings results on Friday, April 25th. The basic materials company reported $1.19 EPS for the quarter, topping the consensus estimate of $1.05 by $0.14. Southern Copper had a net margin of 29.53% and a return on equity of 40.27%. The firm had revenue of $3.12 billion during the quarter, compared to analysts' expectations of $3.05 billion. As a group, research analysts predict that Southern Copper Co. will post 4.66 EPS for the current fiscal year.

Southern Copper Announces Dividend

The firm also recently announced a dividend, which was paid on Monday, May 19th. Investors of record on Monday, May 5th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, May 2nd. This represents a yield of 2.98%. Southern Copper's dividend payout ratio (DPR) is presently 61.27%.

Analyst Ratings Changes

Several research analysts have issued reports on SCCO shares. StockNews.com cut Southern Copper from a "buy" rating to a "hold" rating in a research report on Tuesday. JPMorgan Chase & Co. lowered their target price on Southern Copper from $84.00 to $83.50 and set a "neutral" rating on the stock in a report on Monday, April 14th. Hsbc Global Res raised Southern Copper from a "moderate sell" rating to a "hold" rating in a report on Thursday, April 24th. UBS Group lowered their target price on Southern Copper from $120.00 to $100.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Finally, Scotiabank upped their target price on Southern Copper from $52.00 to $72.00 and gave the company a "sector underperform" rating in a report on Monday, March 10th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, Southern Copper has an average rating of "Hold" and an average target price of $91.50.

About Southern Copper

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.