Y Intercept Hong Kong Ltd Sells 32,084 Shares of Southern Copper Corporation (NYSE:SCCO)

Y Intercept Hong Kong Ltd decreased its stake in shares of Southern Copper Corporation (NYSE:SCCO - Free Report) by 85.8% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 5,326 shares of the basic materials company's stock after selling 32,084 shares during the period. Y Intercept Hong Kong Ltd's holdings in Southern Copper were worth $498,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Cullen Frost Bankers Inc. lifted its holdings in shares of Southern Copper by 117.6% in the first quarter. Cullen Frost Bankers Inc. now owns 272 shares of the basic materials company's stock worth $25,000 after buying an additional 147 shares in the last quarter. Golden State Wealth Management LLC purchased a new stake in Southern Copper in the 1st quarter worth approximately $29,000. IFP Advisors Inc lifted its stake in Southern Copper by 53.7% in the 1st quarter. IFP Advisors Inc now owns 733 shares of the basic materials company's stock worth $69,000 after purchasing an additional 256 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Southern Copper by 35.2% in the 1st quarter. GAMMA Investing LLC now owns 906 shares of the basic materials company's stock valued at $85,000 after purchasing an additional 236 shares during the period. Finally, Creative Financial Designs Inc. ADV grew its position in shares of Southern Copper by 73.2% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 1,155 shares of the basic materials company's stock valued at $108,000 after purchasing an additional 488 shares in the last quarter. Institutional investors own 7.94% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on SCCO shares. Morgan Stanley reiterated an "underweight" rating and issued a $99.00 price objective (up previously from $86.00) on shares of Southern Copper in a research report on Tuesday, July 15th. Itau BBA Securities raised Southern Copper from an "underperform" rating to a "market perform" rating in a report on Wednesday, June 11th. JPMorgan Chase & Co. decreased their price objective on shares of Southern Copper from $83.50 to $79.00 and set a "neutral" rating on the stock in a research report on Thursday, July 3rd. Wall Street Zen lowered shares of Southern Copper from a "buy" rating to a "hold" rating in a research report on Tuesday, May 20th. Finally, Hsbc Global Res raised shares of Southern Copper from a "moderate sell" rating to a "hold" rating in a research note on Thursday, April 24th. Three equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $91.00.

Southern Copper Stock Performance

Shares of NYSE SCCO opened at $98.22 on Monday. The stock has a market cap of $78.20 billion, a price-to-earnings ratio of 21.49, a P/E/G ratio of 2.52 and a beta of 1.02. The stock's 50-day moving average is $97.12 and its 200 day moving average is $93.84. The company has a current ratio of 3.71, a quick ratio of 3.22 and a debt-to-equity ratio of 0.70. Southern Copper Corporation has a 1-year low of $74.84 and a 1-year high of $121.44.

Southern Copper (NYSE:SCCO - Get Free Report) last posted its quarterly earnings results on Friday, April 25th. The basic materials company reported $1.19 EPS for the quarter, topping the consensus estimate of $1.05 by $0.14. Southern Copper had a net margin of 30.00% and a return on equity of 39.39%. The firm had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.05 billion. On average, sell-side analysts anticipate that Southern Copper Corporation will post 4.66 EPS for the current fiscal year.

Southern Copper Increases Dividend

The firm also recently declared a -- dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be paid a $1.01 dividend. The ex-dividend date of this dividend is Friday, August 15th. This is an increase from Southern Copper's previous -- dividend of $0.62. This represents a yield of 2.7%. Southern Copper's payout ratio is currently 61.27%.

Southern Copper Profile

Southern Copper Corporation engages in mining, exploring, smelting, and refining copper and other minerals in Peru, Mexico, Argentina, Ecuador, and Chile. The company is involved in the mining, milling, and flotation of copper ore to produce copper and molybdenum concentrates; smelting of copper concentrates to produce blister and anode copper; refining of anode copper to produce copper cathodes; production of molybdenum concentrate and sulfuric acid; production of refined silver, gold, and other materials; and mining and processing of zinc, copper, molybdenum, silver, gold, and lead.

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