Vantage Investment Partners LLC Has $18.24 Million Position in Southern Copper Corporation $SCCO

Key Points

• Vantage Investment Partners trimmed its Southern Copper stake by 11.5% in the fourth quarter, but still held 127,108 shares valued at about $18.24 million, making SCCO its 28th largest position.
• Southern Copper reported better-than-expected Q1 results, with earnings of $1.92 per share and revenue of $4.25 billion, both ahead of analyst estimates.
• The company also declared a quarterly dividend of $1.00 per share payable May 29, which annualizes to $4.00 per share and a 2.2% yield.

Vantage Investment Partners LLC reduced its holdings in Southern Copper Corporation (NYSE:SCCO - Free Report) by 11.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 127,108 shares of the basic materials company's stock after selling 16,518 shares during the quarter. Southern Copper comprises 1.2% of Vantage Investment Partners LLC's portfolio, making the stock its 28th biggest holding. Vantage Investment Partners LLC's holdings in Southern Copper were worth $18,236,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hopwood Financial Services Inc. acquired a new stake in shares of Southern Copper in the third quarter valued at about $25,000. United Community Bank acquired a new stake in shares of Southern Copper in the third quarter valued at about $30,000. Caitlin John LLC acquired a new stake in shares of Southern Copper in the third quarter valued at about $30,000. IFP Advisors Inc grew its position in Southern Copper by 233.3% during the fourth quarter. IFP Advisors Inc now owns 230 shares of the basic materials company's stock worth $33,000 after buying an additional 161 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in Southern Copper during the fourth quarter worth about $37,000. 7.94% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on SCCO shares. JPMorgan Chase & Co. lifted their target price on Southern Copper from $117.50 to $127.00 and gave the stock an "underweight" rating in a research report on Friday, April 10th. UBS Group lifted their target price on Southern Copper from $140.00 to $145.00 and gave the stock a "sell" rating in a research report on Thursday. Wells Fargo & Company set a $171.00 target price on Southern Copper and gave the stock an "equal weight" rating in a research report on Friday, May 1st. Barclays started coverage on Southern Copper in a research report on Thursday. They set an "underweight" rating and a $148.00 target price on the stock. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Southern Copper in a research report on Friday, March 27th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and eight have given a Sell rating to the company. According to MarketBeat.com, Southern Copper has an average rating of "Reduce" and a consensus target price of $145.14.

Southern Copper Stock Up 0.3%

SCCO stock opened at $179.68 on Friday. The company has a market cap of $147.18 billion, a PE ratio of 29.70, a price-to-earnings-growth ratio of 1.77 and a beta of 1.07. The company has a quick ratio of 3.89, a current ratio of 4.38 and a debt-to-equity ratio of 0.57. Southern Copper Corporation has a twelve month low of $88.73 and a twelve month high of $223.88. The business's 50-day simple moving average is $177.58 and its 200 day simple moving average is $169.41.

Southern Copper (NYSE:SCCO - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $1.92 EPS for the quarter, topping analysts' consensus estimates of $1.88 by $0.04. The firm had revenue of $4.25 billion during the quarter, compared to analysts' expectations of $3.96 billion. Southern Copper had a net margin of 34.13% and a return on equity of 45.63%. On average, research analysts anticipate that Southern Copper Corporation will post 6.93 earnings per share for the current year.

Southern Copper Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Wednesday, May 13th will be paid a dividend of $1.00 per share. The ex-dividend date is Wednesday, May 13th. This represents a $4.00 dividend on an annualized basis and a yield of 2.2%. Southern Copper's dividend payout ratio (DPR) is currently 66.12%.

Insider Buying and Selling

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 200 shares of the firm's stock in a transaction dated 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 transaction, the director 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 500 shares of company stock worth $88,412 in the last three months. 0.07% of the stock is owned by company insiders.

About Southern Copper

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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