Centerstone Investors LLC Lowers Stock Holdings in Southern Copper Co. (NYSE:SCCO)

Centerstone Investors LLC reduced its stake in Southern Copper Co. (NYSE:SCCO - Free Report) by 22.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,071 shares of the basic materials company's stock after selling 5,224 shares during the quarter. Southern Copper comprises approximately 2.4% of Centerstone Investors LLC's holdings, making the stock its 17th largest position. Centerstone Investors LLC's holdings in Southern Copper were worth $1,647,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in SCCO. Whittier Trust Co. of Nevada Inc. bought a new stake in Southern Copper in the fourth quarter worth $30,000. Deseret Mutual Benefit Administrators raised its position in shares of Southern Copper by 210.7% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 379 shares of the basic materials company's stock worth $35,000 after purchasing an additional 257 shares during the last quarter. IFP Advisors Inc boosted its stake in Southern Copper by 143.4% in the 4th quarter. IFP Advisors Inc now owns 477 shares of the basic materials company's stock worth $43,000 after purchasing an additional 281 shares in the last quarter. Spire Wealth Management bought a new position in Southern Copper in the 4th quarter worth about $47,000. Finally, Larson Financial Group LLC grew its position in Southern Copper by 28.0% during the 4th quarter. Larson Financial Group LLC now owns 521 shares of the basic materials company's stock valued at $48,000 after purchasing an additional 114 shares during the last quarter. Hedge funds and other institutional investors own 7.94% of the company's stock.

Southern Copper Trading Down 0.6%

NYSE:SCCO opened at $90.36 on Friday. The company has a market cap of $71.94 billion, a PE ratio of 20.92, a price-to-earnings-growth ratio of 1.90 and a beta of 1.05. 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 company has a 50 day simple moving average of $90.38 and a two-hundred day simple moving average of $94.38. Southern Copper Co. has a 12 month low of $74.11 and a 12 month high of $119.97.

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

Southern Copper Announces Dividend

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

Analysts Set New Price Targets

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

Southern Copper 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.

Want to see what other hedge funds are holding SCCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Southern Copper Co. (NYSE:SCCO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.