Centerstone Investors LLC Reduces Stock Holdings in Southern Copper Corporation $SCCO

Key Points

• Centerstone Investors LLC significantly reduced its position in Southern Copper Corporation by 71%, selling 16,635 shares and leaving them with 6,803 shares valued at approximately $636,000.
• Southern Copper declared a quarterly dividend of $1.01 per share, which is an increase from the previous quarterly dividend of $0.62, representing a 4.0% yield.
• Shares of Southern Copper have experienced a 3.8% increase and have a market cap of $81.14 billion, with a PE ratio of 22.08.

Centerstone Investors LLC lowered its holdings in Southern Copper Corporation (NYSE:SCCO - Free Report) by 71.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,803 shares of the basic materials company's stock after selling 16,635 shares during the quarter. Southern Copper makes up 1.5% of Centerstone Investors LLC's portfolio, making the stock its 19th biggest position. Centerstone Investors LLC's holdings in Southern Copper were worth $636,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of SCCO. Cullen Frost Bankers Inc. raised its holdings in shares of Southern Copper by 117.6% in the 1st quarter. Cullen Frost Bankers Inc. now owns 272 shares of the basic materials company's stock valued at $25,000 after purchasing an additional 147 shares in the last quarter. Golden State Wealth Management LLC bought a new stake in shares of Southern Copper in the 1st quarter valued at about $29,000. N.E.W. Advisory Services LLC bought a new stake in shares of Southern Copper in the 1st quarter valued at about $34,000. Quarry LP bought a new stake in shares of Southern Copper in the 1st quarter valued at about $41,000. Finally, Twin Tree Management LP grew its position in shares of Southern Copper by 583.5% in the 1st quarter. Twin Tree Management LP now owns 622 shares of the basic materials company's stock worth $58,000 after buying an additional 531 shares during the last quarter. Institutional investors own 7.94% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of Southern Copper from a "buy" rating to a "hold" rating in a research report on Tuesday, May 20th. Itau BBA Securities raised shares of Southern Copper from an "underperform" rating to a "market perform" rating in a research report on Wednesday, June 11th. UBS Group downgraded shares of Southern Copper from a "buy" rating to a "neutral" rating and set a $105.00 price objective on the stock. in a research report on Tuesday, July 1st. Morgan Stanley reaffirmed an "underweight" rating and issued a $99.00 price objective (up previously from $86.00) on shares of Southern Copper in a research report on Tuesday, July 15th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Southern Copper from $79.00 to $92.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 3rd. Four investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Reduce" and an average target price of $93.60.

Southern Copper Stock Performance

NYSE:SCCO traded up $0.61 during trading hours on Monday, hitting $103.59. 1,421,092 shares of the company were exchanged, compared to its average volume of 1,405,462. The stock has a market capitalization of $83.29 billion, a price-to-earnings ratio of 22.67, a PEG ratio of 1.46 and a beta of 0.99. Southern Copper Corporation has a 52-week low of $74.84 and a 52-week high of $121.44. The company has a debt-to-equity ratio of 0.67, a current ratio of 5.27 and a quick ratio of 4.51. The company's 50 day moving average price is $98.19 and its 200-day moving average price is $94.09.

Southern Copper Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Friday, August 15th were given a dividend of $1.01 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $4.04 annualized dividend and a yield of 3.9%. This is a boost from Southern Copper's previous quarterly dividend of $0.62. Southern Copper's payout ratio is presently 70.02%.

Insiders Place Their Bets

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 414 shares of the business's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $100.00, for a total transaction of $41,400.00. Following the sale, the director owned 2,327 shares of the company's stock, valued at approximately $232,700. The trade was a 15.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last quarter, insiders have sold 1,028 shares of company stock worth $102,014. 0.07% of the stock is currently owned by insiders.

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.