Centerstone Investors LLC Trims Stock Position in Southern Copper Co. (NYSE:SCCO)

Centerstone Investors LLC lessened its holdings in shares of Southern Copper Co. (NYSE:SCCO - Free Report) by 22.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 18,071 shares of the basic materials company's stock after selling 5,224 shares during the quarter. Southern Copper comprises 2.4% of Centerstone Investors LLC's portfolio, making the stock its 17th biggest holding. Centerstone Investors LLC's holdings in Southern Copper were worth $1,647,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Robeco Institutional Asset Management B.V. grew its holdings in Southern Copper by 22.2% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 137,019 shares of the basic materials company's stock valued at $12,487,000 after buying an additional 24,933 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Southern Copper during the 4th quarter valued at approximately $8,420,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Southern Copper by 2.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 237,437 shares of the basic materials company's stock valued at $21,638,000 after purchasing an additional 4,889 shares in the last quarter. Geneos Wealth Management Inc. bought a new stake in Southern Copper in the fourth quarter worth $308,000. Finally, Vantage Investment Partners LLC raised its stake in Southern Copper by 21.8% during the fourth quarter. Vantage Investment Partners LLC now owns 139,554 shares of the basic materials company's stock valued at $12,718,000 after purchasing an additional 24,987 shares in the last quarter. Hedge funds and other institutional investors own 7.94% of the company's stock.

Analysts Set New Price Targets

SCCO has been the subject of several research reports. JPMorgan Chase & Co. lowered their price objective on shares of Southern Copper from $84.00 to $83.50 and set a "neutral" rating for the company in a research report on Monday, April 14th. Hsbc Global Res raised shares of Southern Copper from a "moderate sell" rating to a "hold" rating in a report on Thursday, April 24th. Wall Street Zen lowered Southern Copper from a "buy" rating to a "hold" rating in a research report on Tuesday, May 20th. Scotiabank boosted their price objective on Southern Copper from $52.00 to $72.00 and gave the stock a "sector underperform" rating in a research note on Monday, March 10th. Finally, UBS Group lowered their price objective on Southern Copper from $120.00 to $100.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $91.50.

Southern Copper Trading Down 1.3%

Shares of NYSE SCCO traded down $1.20 during midday trading on Wednesday, hitting $91.96. The company's stock had a trading volume of 268,998 shares, compared to its average volume of 1,192,442. Southern Copper Co. has a 12-month low of $74.11 and a 12-month high of $119.97. The company has a current ratio of 2.77, a quick ratio of 2.31 and a debt-to-equity ratio of 0.64. The firm has a market cap of $73.22 billion, a P/E ratio of 21.30, a price-to-earnings-growth ratio of 1.90 and a beta of 1.05. The business's 50 day moving average is $89.99 and its two-hundred day moving average is $93.88.

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

Southern Copper Announces Dividend

The business also recently declared a dividend, which was paid on Monday, May 19th. Stockholders of record on Monday, May 5th were issued a $0.70 dividend. This represents a dividend yield of 2.98%. The ex-dividend date of this dividend was Friday, May 2nd. Southern Copper's payout ratio is presently 61.27%.

Southern Copper Company 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.