Southern Copper Corporation $SCCO Shares Sold by Ashoka WhiteOak Capital Pte Ltd

Key Points

• Ashoka WhiteOak Capital Pte Ltd reduced its Southern Copper stake by 23.6% in Q1, selling 8,861 shares and leaving it with 28,668 shares valued at about $4.93 million.
• Institutional ownership changes were mixed: several firms increased their positions, and institutional investors and hedge funds now own 7.94% of Southern Copper’s stock.
• Southern Copper continues to offer income with a quarterly dividend of $1.00 per share, equal to an annualized yield of 2.3%, while analysts overall rate the stock “Reduce” with an average target price of $145.94.

Ashoka WhiteOak Capital Pte Ltd decreased its holdings in Southern Copper Corporation (NYSE:SCCO - Free Report) by 23.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 28,668 shares of the basic materials company's stock after selling 8,861 shares during the quarter. Southern Copper accounts for about 1.9% of Ashoka WhiteOak Capital Pte Ltd's holdings, making the stock its 11th biggest holding. Ashoka WhiteOak Capital Pte Ltd's holdings in Southern Copper were worth $4,933,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in SCCO. Royal Bank of Canada increased its stake in Southern Copper by 42.1% during the 1st quarter. Royal Bank of Canada now owns 44,879 shares of the basic materials company's stock worth $4,194,000 after buying an additional 13,293 shares during the period. Empowered Funds LLC boosted its position in Southern Copper by 17.9% in the 1st quarter. Empowered Funds LLC now owns 6,705 shares of the basic materials company's stock valued at $627,000 after buying an additional 1,020 shares during the period. Focus Partners Wealth boosted its position in Southern Copper by 21.5% in the 1st quarter. Focus Partners Wealth now owns 5,944 shares of the basic materials company's stock valued at $556,000 after buying an additional 1,052 shares during the period. First Trust Advisors LP grew its stake in shares of Southern Copper by 37.4% in the second quarter. First Trust Advisors LP now owns 73,379 shares of the basic materials company's stock worth $7,424,000 after acquiring an additional 19,957 shares in the last quarter. Finally, Baird Financial Group Inc. grew its stake in shares of Southern Copper by 17.7% in the second quarter. Baird Financial Group Inc. now owns 4,864 shares of the basic materials company's stock worth $492,000 after acquiring an additional 731 shares in the last quarter. Institutional investors and hedge funds own 7.94% of the company's stock.

Southern Copper Stock Performance

NYSE:SCCO opened at $171.71 on Thursday. The firm has a market capitalization of $141.85 billion, a PE ratio of 28.38, a price-to-earnings-growth ratio of 1.60 and a beta of 1.09. The business's fifty day moving average price is $184.07 and its 200 day moving average price is $178.63. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.38 and a quick ratio of 3.89. Southern Copper Corporation has a 12 month low of $88.73 and a 12 month high of $223.88.

Southern Copper Dividend Announcement

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

Insiders Place Their Bets

In other news, Director Bonilla Luis Miguel Palomino sold 200 shares of the business's stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $177.82, for a total transaction of $35,564.00. Following the completion of the sale, the director owned 1,807 shares in the company, valued at approximately $321,320.74. The trade was a 9.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 404 shares of company stock worth $74,108 in the last three months. 0.07% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Morgan Stanley boosted their target price on Southern Copper from $155.00 to $160.00 and gave the stock an "underweight" rating in a research note on Thursday, April 9th. UBS Group lifted their price objective on Southern Copper from $140.00 to $145.00 and gave the company a "sell" rating in a research note on Thursday, May 21st. Barclays initiated coverage on Southern Copper in a research report on Thursday, May 21st. They set an "underweight" rating and a $148.00 price objective for the company. Wall Street Zen lowered shares of Southern Copper from a "buy" rating to a "hold" rating in a research note on Saturday, May 16th. Finally, The Goldman Sachs Group raised shares of Southern Copper from a "sell" rating to a "neutral" rating and set a $178.00 target price on the stock in a report on Friday, April 10th. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and eight have assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Reduce" and an average target price of $145.94.

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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