Strs Ohio Has $20.92 Million Holdings in Southern Copper Corporation $SCCO

Key Points

• STRS Ohio cut its stake in Southern Copper by 12.9% in Q4 and now holds 145,803 shares worth about $20.92 million.
• Insider selling has been notable — insiders sold 9,526 shares (~$1.99 million) in the last 90 days, leaving insiders with just 0.07% ownership; a director alone sold 9,326 shares on Feb. 3.
• Analysts skew negative with an average rating of "Reduce" and an average price target of $144.25 versus the stock near $171; Southern Copper did beat recent quarterly EPS estimates, pays a $1.00 quarterly dividend (2.3% yield), and will implement a 1.01-1 split on May 13.

Strs Ohio cut its position in shares of Southern Copper Corporation (NYSE:SCCO - Free Report) by 12.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 145,803 shares of the basic materials company's stock after selling 21,502 shares during the quarter. Strs Ohio's holdings in Southern Copper were worth $20,918,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of SCCO. Hopwood Financial Services Inc. acquired a new stake in shares of Southern Copper during the third quarter worth $25,000. United Community Bank acquired a new stake in shares of Southern Copper during the third quarter worth $30,000. Caitlin John LLC acquired a new stake in shares of Southern Copper during the third quarter worth $30,000. Bayforest Capital Ltd acquired a new stake in Southern Copper in the fourth quarter worth $38,000. Finally, Covestor Ltd grew its holdings in Southern Copper by 30.4% in the third quarter. Covestor Ltd now owns 360 shares of the basic materials company's stock worth $44,000 after purchasing an additional 84 shares during the period. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Analysts Set New Price Targets

A number of research firms have commented on SCCO. Scotiabank restated an "underperform" rating and issued a $133.00 price target (up from $125.00) on shares of Southern Copper in a report on Thursday, April 23rd. Weiss Ratings restated a "buy (b)" rating on shares of Southern Copper in a report on Friday, March 27th. Citigroup restated a "sell" rating on shares of Southern Copper in a report on Monday, January 12th. Wells Fargo & Company set a $171.00 price target on shares of Southern Copper and gave the stock an "equal weight" rating in a report on Friday. Finally, Morgan Stanley raised their price target on shares of Southern Copper from $155.00 to $160.00 and gave the stock an "underweight" rating in a report on Thursday, April 9th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and seven have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Reduce" and an average price target of $144.25.

Southern Copper Trading Down 0.1%

NYSE:SCCO opened at $171.08 on Monday. The company has a current ratio of 4.38, a quick ratio of 3.89 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $140.13 billion, a price-to-earnings ratio of 28.28, a PEG ratio of 1.73 and a beta of 1.07. The firm has a fifty day simple moving average of $184.14 and a two-hundred day simple moving average of $164.91. Southern Copper Corporation has a 12 month low of $86.59 and a 12 month high of $223.88.

Southern Copper's stock is scheduled to split on Wednesday, May 13th. The 1.01-1 split was recently announced. The newly created shares will be distributed to shareholders after the market closes on Tuesday, May 12th.

Southern Copper (NYSE:SCCO - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The basic materials company reported $1.92 earnings per share for the quarter, beating analysts' consensus estimates of $1.88 by $0.04. Southern Copper had a net margin of 34.13% and a return on equity of 45.63%. The firm had revenue of $4.25 billion for the quarter, compared to analyst estimates of $3.96 billion. Analysts expect that Southern Copper Corporation will post 6.77 EPS for the current fiscal year.

Southern Copper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Wednesday, May 13th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Wednesday, May 13th. Southern Copper's dividend payout ratio (DPR) is 66.12%.

Southern Copper Company 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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