General Pension Society PZU Joint Stock Co Sells 53,983 Shares of Southern Copper Corporation $SCCO

Key Points

• General Pension Society PZU cut its stake in Southern Copper by 13.9% in the first quarter, selling 53,983 shares and leaving it with 335,619 shares valued at about $57.7 million. Southern Copper remains its second-largest holding.
• Southern Copper shares rose 1.7% in Friday trading, and the stock opened at $171.73. The company now has a market value of about $141.86 billion.
• The company paid a $1.00 quarterly dividend on May 29, equal to an annualized $4.00 per share and a 2.3% yield. Analysts are mixed overall, with the stock carrying a consensus rating of "Reduce" and an average target price of $147.19.

General Pension Society PZU Joint Stock Co trimmed its position in shares of Southern Copper Corporation (NYSE:SCCO - Free Report) by 13.9% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 335,619 shares of the basic materials company's stock after selling 53,983 shares during the quarter. Southern Copper makes up approximately 14.2% of General Pension Society PZU Joint Stock Co's investment portfolio, making the stock its 2nd largest position. General Pension Society PZU Joint Stock Co's holdings in Southern Copper were worth $57,747,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SCCO. Capital World Investors raised its position in shares of Southern Copper by 36.1% in the third quarter. Capital World Investors now owns 6,437,608 shares of the basic materials company's stock valued at $781,268,000 after buying an additional 1,708,693 shares during the last quarter. State Street Corp boosted its position in Southern Copper by 2.4% during the fourth quarter. State Street Corp now owns 2,862,244 shares of the basic materials company's stock worth $410,646,000 after acquiring an additional 66,268 shares during the last quarter. Fisher Asset Management LLC grew its stake in Southern Copper by 0.3% during the 4th quarter. Fisher Asset Management LLC now owns 2,536,228 shares of the basic materials company's stock valued at $363,873,000 after acquiring an additional 7,194 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Southern Copper by 8.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,181,293 shares of the basic materials company's stock valued at $169,480,000 after acquiring an additional 90,237 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Southern Copper by 12.8% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,091,632 shares of the basic materials company's stock valued at $132,479,000 after acquiring an additional 123,532 shares during the last quarter. Hedge funds and other institutional investors own 7.94% of the company's stock.

Southern Copper Stock Up 1.7%

Shares of NYSE SCCO opened at $171.73 on Friday. The company has a market capitalization of $141.86 billion, a P/E ratio of 28.39, a P/E/G ratio of 1.52 and a beta of 1.11. Southern Copper Corporation has a 1 year low of $88.73 and a 1 year high of $223.88. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.38 and a quick ratio of 3.89. The company has a 50 day simple moving average of $181.85 and a 200-day simple moving average of $179.90.

Southern Copper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Wednesday, May 13th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Wednesday, May 13th. Southern Copper's dividend payout ratio (DPR) is presently 66.12%.

Wall Street Analysts Forecast Growth

SCCO has been the topic of several recent research reports. Wells Fargo & Company set a $171.00 target price on Southern Copper and gave the stock an "equal weight" rating in a report on Friday, May 1st. Morgan Stanley increased their price target on Southern Copper from $155.00 to $160.00 and gave the company an "underweight" rating in a report on Thursday, April 9th. Weiss Ratings reiterated a "buy (b)" rating on shares of Southern Copper in a research report on Wednesday, June 24th. UBS Group reissued a "sell" rating and set a $160.00 price objective (up from $145.00) on shares of Southern Copper in a research note on Tuesday. Finally, Scotiabank restated an "underperform" rating and issued a $140.00 target price (up from $135.00) on shares of Southern Copper in a report on Monday, June 15th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and eight have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Reduce" and a consensus target price of $147.19.

Insider Transactions at Southern Copper

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 200 shares of the company's stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $177.82, for a total value of $35,564.00. Following the transaction, the director owned 1,807 shares of the company's stock, valued at $321,320.74. This represents a 9.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last 90 days, insiders have sold 404 shares of company stock valued at $74,108. 0.07% of the stock is currently owned by insiders.

Southern Copper Profile

Southern Copper Corporation NYSE: SCCO is a large, integrated copper producer whose operations span the full value chain from exploration and mining to smelting, refining and the sale of copper and other metal products. The company produces a range of copper products including copper concentrate and refined cathodes, and recovers valuable byproducts such as molybdenum, silver and zinc. Southern Copper concentrates on high-volume, long-life assets designed to support steady production and processing capabilities.

Southern Copper's operations are concentrated in Peru and Mexico, where it owns and operates multiple large-scale mining and processing facilities.

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