Southern Copper Co. (NYSE:SCCO) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC lessened its position in shares of Southern Copper Co. (NYSE:SCCO - Free Report) by 83.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,745 shares of the basic materials company's stock after selling 82,861 shares during the quarter. SG Americas Securities LLC's holdings in Southern Copper were worth $1,565,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of SCCO. Whittier Trust Co. of Nevada Inc. purchased a new stake in Southern Copper in the fourth quarter valued at approximately $30,000. Deseret Mutual Benefit Administrators boosted its holdings 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 valued at $35,000 after acquiring an additional 257 shares during the last quarter. IFP Advisors Inc boosted its holdings in shares of Southern Copper by 143.4% in the 4th quarter. IFP Advisors Inc now owns 477 shares of the basic materials company's stock valued at $43,000 after acquiring an additional 281 shares during the last quarter. Larson Financial Group LLC increased its stake in shares of Southern Copper by 28.0% in the fourth quarter. Larson Financial Group LLC now owns 521 shares of the basic materials company's stock worth $48,000 after acquiring an additional 114 shares during the period. Finally, Lee Danner & Bass Inc. purchased a new position in shares of Southern Copper during the fourth quarter worth $60,000. 7.94% of the stock is owned by institutional investors and hedge funds.

Southern Copper Stock Performance

NYSE SCCO opened at $94.69 on Monday. The company has a current ratio of 2.77, a quick ratio of 2.31 and a debt-to-equity ratio of 0.64. Southern Copper Co. has a twelve month low of $74.11 and a twelve month high of $118.64. The stock has a 50-day moving average of $90.68 and a 200 day moving average of $93.21. The stock has a market capitalization of $75.39 billion, a price-to-earnings ratio of 21.92, a PEG ratio of 1.90 and a beta of 1.01.

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

Southern Copper Announces Dividend

The business also recently announced a dividend, which was paid on Monday, May 19th. Stockholders of record on Monday, May 5th were given a $0.70 dividend. 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 (DPR) is 61.27%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. UBS Group decreased their target price on shares of Southern Copper from $120.00 to $100.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. JPMorgan Chase & Co. decreased their price objective on Southern Copper from $84.00 to $83.50 and set a "neutral" rating for the company in a report on Monday, April 14th. Hsbc Global Res raised Southern Copper from a "moderate sell" rating to a "hold" rating in a report on Thursday, April 24th. Scotiabank lifted their price target on Southern Copper from $52.00 to $72.00 and gave the company a "sector underperform" rating in a research report on Monday, March 10th. Finally, Itau BBA Securities raised Southern Copper from an "underperform" rating to a "market perform" rating in a report on Wednesday, June 11th. Two analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus 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.