Southern Copper Corporation $SCCO Shares Sold by B. Metzler seel. Sohn & Co. AG

Key Points

• B. Metzler seel. Sohn & Co. AG cut its Southern Copper stake by 14.2% in the second quarter, selling 5,013 shares and retaining 30,217 shares valued at approximately $5.27 million. Institutional investors collectively own 7.94% of the company.
• Analyst sentiment remains cautious: SCCO has a consensus rating of “Reduce”, based on three Buy, five Hold and seven Sell ratings, with an average price target of $146.84.
• Southern Copper reported quarterly EPS of $1.99, topping estimates, while revenue rose 40.6% year over year to $4.29 billion. The company also increased its quarterly dividend to $1.10 per share, implying a 2.2% yield.

B. Metzler seel. Sohn & Co. AG lessened its position in shares of Southern Copper Corporation (NYSE:SCCO - Free Report) by 14.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 30,217 shares of the basic materials company's stock after selling 5,013 shares during the quarter. B. Metzler seel. Sohn & Co. AG's holdings in Southern Copper were worth $5,266,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Royal Bank of Canada boosted 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 purchasing an additional 13,293 shares during the period. Empowered Funds LLC increased 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 acquiring an additional 1,020 shares during the period. Focus Partners Wealth increased 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 acquiring an additional 1,052 shares during the period. First Trust Advisors LP raised its stake in Southern Copper by 37.4% during the 2nd quarter. First Trust Advisors LP now owns 73,379 shares of the basic materials company's stock valued at $7,424,000 after acquiring an additional 19,957 shares during the last quarter. Finally, Baird Financial Group Inc. raised its stake in Southern Copper by 17.7% during the 2nd quarter. Baird Financial Group Inc. now owns 4,864 shares of the basic materials company's stock valued at $492,000 after acquiring an additional 731 shares during the last quarter. Institutional investors and hedge funds own 7.94% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on SCCO shares. Weiss Ratings upgraded Southern Copper from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, July 28th. UBS Group reissued a "sell" rating and issued a $158.10 target price (up from $143.28) on shares of Southern Copper in a report on Tuesday, June 30th. Zacks Research cut Southern Copper from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 7th. Scotiabank reaffirmed an "underperform" rating and set a $138.34 price target (up from $133.40) on shares of Southern Copper in a report on Monday, June 15th. Finally, CICC Research lowered shares of Southern Copper to a "market perform" rating in a research report on Sunday, July 26th. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and seven have given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Reduce" and an average price target of $146.84.

Insider Buying and Selling at Southern Copper

In other news, Director Luis Palomino Bonilla sold 202 shares of the business's stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $196.79, for a total value of $39,751.28. Following the completion of the transaction, the director directly owned 1,723 shares of the company's stock, valued at $339,066.65. The trade was a 10.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders sold 404 shares of company stock valued at $77,077 over the last ninety days. Insiders own 0.07% of the company's stock.

Southern Copper Price Performance

Shares of NYSE SCCO opened at $200.79 on Friday. The company has a current ratio of 5.06, a quick ratio of 4.56 and a debt-to-equity ratio of 0.63. The company's 50-day moving average price is $186.86 and its 200 day moving average price is $183.94. Southern Copper Corporation has a 52 week low of $98.82 and a 52 week high of $223.88. The stock has a market cap of $167.53 billion, a price-to-earnings ratio of 29.36, a PEG ratio of 1.75 and a beta of 1.14.

Southern Copper (NYSE:SCCO - Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The basic materials company reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.06. Southern Copper had a net margin of 35.87% and a return on equity of 49.04%. The company had revenue of $4.29 billion for the quarter, compared to the consensus estimate of $4.37 billion. The company's revenue for the quarter was up 40.6% compared to the same quarter last year. As a group, research analysts forecast that Southern Copper Corporation will post 7.61 earnings per share for the current fiscal year.

Southern Copper Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 27th. Shareholders of record on Tuesday, August 11th were given a dividend of $1.10 per share. The ex-dividend date of this dividend was Tuesday, August 11th. This is a positive change from Southern Copper's previous quarterly dividend of $1.00. This represents a $4.40 annualized dividend and a yield of 2.2%. Southern Copper's dividend payout ratio (DPR) is 64.33%.

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source