Southern Copper Corporation $SCCO Stock Position Lessened by FORA Capital LLC

Key Points

• FORA Capital LLC has reduced its stake in Southern Copper Corporation by 71.9%, selling 9,450 shares and leaving it with 3,691 shares valued at $345,000.
• Southern Copper has recently increased its quarterly dividend from $0.62 to $1.01 per share, representing a 4.2% dividend yield.
• Several institutions have adjusted their positions in Southern Copper, with Cullen Frost Bankers increasing its stake by 117.6% in the first quarter.

FORA Capital LLC cut its stake in shares of Southern Copper Corporation (NYSE:SCCO - Free Report) by 71.9% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 3,691 shares of the basic materials company's stock after selling 9,450 shares during the period. FORA Capital LLC's holdings in Southern Copper were worth $345,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its position in shares of Southern Copper by 8.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 424,673 shares of the basic materials company's stock valued at $38,703,000 after purchasing an additional 31,453 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of Southern Copper by 974.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,633 shares of the basic materials company's stock valued at $331,000 after purchasing an additional 3,295 shares in the last quarter. Voya Investment Management LLC raised its position in shares of Southern Copper by 11.0% in the 4th quarter. Voya Investment Management LLC now owns 12,536 shares of the basic materials company's stock valued at $1,142,000 after purchasing an additional 1,244 shares in the last quarter. Northern Trust Corp raised its position in shares of Southern Copper by 44.9% in the 4th quarter. Northern Trust Corp now owns 1,146,537 shares of the basic materials company's stock valued at $104,484,000 after purchasing an additional 355,013 shares in the last quarter. Finally, Lido Advisors LLC raised its position in shares of Southern Copper by 58.3% in the 4th quarter. Lido Advisors LLC now owns 3,021 shares of the basic materials company's stock valued at $275,000 after purchasing an additional 1,113 shares in the last quarter. 7.94% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Wall Street Zen lowered 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 report on Wednesday, June 11th. JPMorgan Chase & Co. dropped their target price on shares of Southern Copper from $83.50 to $79.00 and set a "neutral" rating on the stock in a report on Thursday, July 3rd. Morgan Stanley reaffirmed an "underweight" rating and issued a $99.00 price target (up from $86.00) on shares of Southern Copper in a report on Tuesday, July 15th. Finally, UBS Group lowered shares of Southern Copper from a "buy" rating to a "neutral" rating and set a $105.00 price target for the company. in a report on Tuesday, July 1st. Four research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Reduce" and an average price target of $91.00.

Southern Copper Stock Performance

SCCO traded down $0.66 during trading on Friday, reaching $96.06. 1,044,220 shares of the company were exchanged, compared to its average volume of 996,485. The stock has a market cap of $77.24 billion, a P/E ratio of 21.02, a PEG ratio of 1.41 and a beta of 0.99. The firm has a 50 day moving average of $98.15 and a 200 day moving average of $94.01. The company has a current ratio of 5.27, a quick ratio of 4.51 and a debt-to-equity ratio of 0.67. Southern Copper Corporation has a 52 week low of $74.84 and a 52 week high of $121.44.

Southern Copper Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be paid a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date is Friday, August 15th. This is an increase from Southern Copper's previous quarterly dividend of $0.62. Southern Copper's dividend payout ratio (DPR) is currently 70.02%.

Insider Buying and Selling

In related news, Director Bonilla Luis Miguel Palomino sold 414 shares of the company's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $100.00, for a total transaction of $41,400.00. Following the completion of the transaction, the director directly owned 2,327 shares in the company, valued at $232,700. This represents a 15.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.07% of the stock is currently owned by insiders.

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.