Vantage Investment Partners LLC Cuts Stock Position in Southern Copper Corporation $SCCO

Key Points

• Vantage Investment Partners reduced its Southern Copper stake by 9.5% in Q1, selling 12,124 shares and leaving it with 114,984 shares valued at about $19.8 million.
• Analyst sentiment remains cautious overall: Southern Copper has a consensus “Reduce” rating and an average price target of $147.10, despite a mix of recent upgrades and downgrades.
• The stock was trading around $175.99 and the company recently paid a quarterly dividend of $1.00 per share, which annualizes to a 2.3% yield.

Vantage Investment Partners LLC trimmed its position in shares of Southern Copper Corporation (NYSE:SCCO - Free Report) by 9.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 114,984 shares of the basic materials company's stock after selling 12,124 shares during the quarter. Southern Copper accounts for approximately 1.4% of Vantage Investment Partners LLC's investment portfolio, making the stock its 24th biggest position. Vantage Investment Partners LLC's holdings in Southern Copper were worth $19,784,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Intech Investment Management LLC lifted its position in shares of Southern Copper by 0.8% during the fourth quarter. Intech Investment Management LLC now owns 6,030 shares of the basic materials company's stock worth $865,000 after purchasing an additional 50 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al increased its stake in Southern Copper by 0.8% during the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 6,072 shares of the basic materials company's stock worth $871,000 after buying an additional 51 shares during the period. Steel Grove Capital Advisors LLC increased its stake in Southern Copper by 1.8% during the 4th quarter. Steel Grove Capital Advisors LLC now owns 2,910 shares of the basic materials company's stock worth $417,000 after buying an additional 52 shares during the period. Ensign Peak Advisors Inc lifted its holdings in Southern Copper by 0.8% during the 4th quarter. Ensign Peak Advisors Inc now owns 6,379 shares of the basic materials company's stock worth $915,000 after buying an additional 53 shares in the last quarter. Finally, Venture Visionary Partners LLC boosted its position in Southern Copper by 0.8% in the 4th quarter. Venture Visionary Partners LLC now owns 6,998 shares of the basic materials company's stock valued at $1,004,000 after buying an additional 53 shares during the period. 7.94% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SCCO has been the subject of several research reports. Weiss Ratings downgraded shares of Southern Copper from a "buy (b)" rating to a "buy (b-)" rating in a research note on Wednesday. UBS Group reiterated a "sell" rating and issued a $160.00 price objective (up from $145.00) on shares of Southern Copper in a research note on Tuesday, June 30th. Wall Street Zen upgraded Southern Copper from a "hold" rating to a "buy" rating in a report on Saturday, June 27th. Barclays started coverage on Southern Copper in a research note on Thursday, May 21st. They set an "underweight" rating and a $148.00 target price for the company. Finally, The Goldman Sachs Group raised Southern Copper from a "sell" rating to a "neutral" rating and set a $178.00 price target on the stock in a research report on Friday, April 10th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have assigned a Hold rating and eight have assigned a Sell rating to the company's stock. According to MarketBeat, Southern Copper currently has a consensus rating of "Reduce" and a consensus price target of $147.10.

Insiders Place Their Bets

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 200 shares of the firm's stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $177.82, for a total value of $35,564.00. Following the sale, the director directly owned 1,807 shares in the company, valued at $321,320.74. This trade represents a 9.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 404 shares of company stock valued at $74,108 in the last 90 days. 0.07% of the stock is owned by company insiders.

Southern Copper Stock Up 0.9%

Shares of NYSE:SCCO traded up $1.56 during trading hours on Friday, reaching $175.99. The stock had a trading volume of 791,271 shares, compared to its average volume of 1,224,357. Southern Copper Corporation has a 1 year low of $88.73 and a 1 year high of $223.88. The firm's 50 day moving average is $181.14 and its 200-day moving average is $180.93. The stock has a market capitalization of $145.38 billion, a price-to-earnings ratio of 29.09, a P/E/G ratio of 1.54 and a beta of 1.11. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.89 and a current ratio of 4.38.

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 issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Wednesday, May 13th. Southern Copper's dividend payout ratio is 66.12%.

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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