Southern Copper Corporation (NYSE:SCCO) Stock Holdings Lessened by RWC Asset Advisors US LLC

Key Points

• RWC Asset Advisors US LLC reduced its stake in Southern Copper Corporation by 19.4%, holding 258,276 shares valued at approximately $24.14 million.
• Southern Copper recently increased its dividend to $1.01 per share, representing a dividend yield of 2.7%, up from the previous $0.62.
• Wall Street analysts have mixed views on Southern Copper, with ratings ranging from sell to hold, and an average target price of $91.00.

RWC Asset Advisors US LLC decreased its position in Southern Copper Corporation (NYSE:SCCO - Free Report) by 19.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 258,276 shares of the basic materials company's stock after selling 62,205 shares during the period. Southern Copper accounts for 4.4% of RWC Asset Advisors US LLC's investment portfolio, making the stock its 8th biggest holding. RWC Asset Advisors US LLC's holdings in Southern Copper were worth $24,138,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Norges Bank purchased a new position in Southern Copper in the 4th quarter valued at approximately $52,738,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Southern Copper in the 4th quarter valued at approximately $40,226,000. Renaissance Technologies LLC grew its stake in Southern Copper by 1,417.7% in the 4th quarter. Renaissance Technologies LLC now owns 407,912 shares of the basic materials company's stock valued at $37,173,000 after buying an additional 381,035 shares in the last quarter. Northern Trust Corp grew its stake in 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 buying an additional 355,013 shares in the last quarter. Finally, Marshall Wace LLP grew its stake in Southern Copper by 49.6% in the 4th quarter. Marshall Wace LLP now owns 998,923 shares of the basic materials company's stock valued at $91,032,000 after buying an additional 331,319 shares in the last quarter. Hedge funds and other institutional investors own 7.94% of the company's stock.

Analyst Ratings Changes

SCCO has been the subject of several analyst reports. Wall Street Zen downgraded shares of Southern Copper from a "buy" rating to a "hold" rating in a 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. cut their price target on shares of Southern Copper from $83.50 to $79.00 and set a "neutral" rating for the company in a report on Thursday, July 3rd. Hsbc Global Res raised shares of Southern Copper from a "moderate sell" rating to a "hold" rating in a report on Thursday, April 24th. Finally, UBS Group downgraded shares of Southern Copper from a "buy" rating to a "neutral" rating and set a $105.00 price objective for the company. in a report on Tuesday, July 1st. Three investment analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $91.00.

Southern Copper Trading Down 1.2%

NYSE:SCCO traded down $1.18 during trading hours on Wednesday, reaching $95.48. The company's stock had a trading volume of 755,467 shares, compared to its average volume of 1,426,550. The firm has a market capitalization of $76.02 billion, a price-to-earnings ratio of 20.87, a PEG ratio of 2.49 and a beta of 1.02. The firm has a 50-day simple moving average of $97.33 and a 200-day simple moving average of $93.88. Southern Copper Corporation has a 1 year low of $74.84 and a 1 year high of $121.44. The company has a debt-to-equity ratio of 0.70, a quick ratio of 3.22 and a current ratio of 3.71.

Southern Copper Increases Dividend

The firm also recently announced a -- dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be given a $1.01 dividend. This represents a yield of 2.7%. The ex-dividend date of this dividend is Friday, August 15th. This is a boost from Southern Copper's previous -- dividend of $0.62. Southern Copper's dividend payout ratio (DPR) is presently 61.27%.

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.