Highview Capital Management LLC DE Purchases Shares of 8,417 Southern Copper Corporation $SCCO

Key Points

• Highview Capital Management LLC DE purchased a new stake of 8,417 shares in Southern Copper (NYSE:SCCO) in Q4, valued at approximately $1.208 million.
• Company insiders sold 9,526 shares worth about $1.99 million in the last quarter—leaving insiders with just 0.07% ownership—while large institutions (e.g., Capital World Investors, State Street, Vanguard) hold notable positions and institutional ownership is reported at 7.94%.
• Analyst coverage is mixed with a consensus "Reduce" rating and a $144.79 average price target; SCCO trades near $191, has a market cap of $156.45B, and recently raised its quarterly dividend to $1.00 (≈2.1% yield).

Highview Capital Management LLC DE purchased a new stake in Southern Copper Corporation (NYSE:SCCO - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 8,417 shares of the basic materials company's stock, valued at approximately $1,208,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SCCO. Capital World Investors increased its position in shares of Southern Copper by 36.1% during the third quarter. Capital World Investors now owns 6,437,608 shares of the basic materials company's stock worth $781,268,000 after acquiring an additional 1,708,693 shares in the last quarter. State Street Corp increased its position in shares of Southern Copper by 1.5% during the third quarter. State Street Corp now owns 2,795,976 shares of the basic materials company's stock worth $339,320,000 after acquiring an additional 40,847 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Southern Copper by 12.8% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,091,632 shares of the basic materials company's stock worth $132,479,000 after acquiring an additional 123,532 shares in the last quarter. Legal & General Group Plc increased its position in shares of Southern Copper by 1.5% during the third quarter. Legal & General Group Plc now owns 955,924 shares of the basic materials company's stock worth $116,012,000 after acquiring an additional 14,212 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Southern Copper by 11.2% during the third quarter. Vanguard Group Inc. now owns 950,018 shares of the basic materials company's stock worth $115,294,000 after acquiring an additional 96,013 shares in the last quarter. 7.94% of the stock is owned by institutional investors.

Insider Activity

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 193 shares of the stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $174.60, for a total value of $33,697.80. Following the completion of the sale, the director owned 1,707 shares in the company, valued at approximately $298,042.20. This trade represents a 10.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Lerdo De Tejada Leon Contreras sold 9,326 shares of the stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $209.56, for a total transaction of $1,954,344.91. Following the completion of the sale, the director owned 605 shares of the company's stock, valued at approximately $126,783.04. This trade represents a 93.91% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 9,526 shares of company stock valued at $1,989,373. Company insiders own 0.07% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on SCCO. UBS Group decreased their target price on shares of Southern Copper from $150.00 to $140.00 and set a "sell" rating for the company in a research report on Friday, March 27th. Morgan Stanley boosted their target price on shares of Southern Copper from $155.00 to $160.00 and gave the stock an "underweight" rating in a research report on Thursday, April 9th. Citigroup reissued a "sell" rating on shares of Southern Copper in a research report on Monday, January 12th. Bank of America downgraded shares of Southern Copper from a "neutral" rating to an "underperform" rating and boosted their target price for the stock from $162.00 to $175.00 in a research report on Thursday, February 26th. Finally, Wall Street Zen raised shares of Southern Copper from a "hold" rating to a "buy" rating in a research report on Saturday, March 21st. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and seven have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Reduce" and a consensus price target of $144.79.

Southern Copper Trading Down 1.7%

NYSE:SCCO opened at $191.00 on Tuesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 3.40 and a current ratio of 3.89. The firm has a market cap of $156.45 billion, a price-to-earnings ratio of 35.90, a price-to-earnings-growth ratio of 1.96 and a beta of 1.16. Southern Copper Corporation has a 52 week low of $84.97 and a 52 week high of $223.88. The firm has a 50-day moving average price of $187.14 and a two-hundred day moving average price of $162.13.

Southern Copper (NYSE:SCCO - Get Free Report) last posted its quarterly earnings data on Wednesday, January 28th. The basic materials company reported $1.55 EPS for the quarter, beating the consensus estimate of $1.54 by $0.01. The firm had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.73 billion. Southern Copper had a net margin of 32.30% and a return on equity of 41.97%. During the same quarter last year, the business posted $0.98 EPS. On average, equities analysts expect that Southern Copper Corporation will post 6.79 earnings per share for the current fiscal year.

Southern Copper Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Tuesday, February 10th were paid a $1.00 dividend. This is a positive change from Southern Copper's previous quarterly dividend of $0.90. The ex-dividend date was Tuesday, February 10th. This represents a $4.00 annualized dividend and a yield of 2.1%. Southern Copper's dividend payout ratio (DPR) is 75.19%.

About Southern Copper

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.

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 Corporation (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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.