Y Intercept Hong Kong Ltd Has $498,000 Stock Position in Southern Copper Corporation (NYSE:SCCO)

Key Points

• Y Intercept Hong Kong Ltd decreased its stake in Southern Copper Corporation by 85.8%, selling 32,084 shares and holding only 5,326 shares valued at $498,000 as per the latest SEC filing.
• Several large investors adjusted their positions in Southern Copper, with Cullen Frost Bankers Inc. increasing its holdings by 117.6% in the first quarter, while other firms like Golden State Wealth Management and IFP Advisors made similar increases.
• Southern Copper's recent quarterly earnings showed EPS of $1.19, exceeding the consensus estimate of $1.05, along with announcing a dividend increase to $1.01, reflecting a yield of 2.7%.

Y Intercept Hong Kong Ltd trimmed its holdings in Southern Copper Corporation (NYSE:SCCO - Free Report) by 85.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund 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 filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the company. American Century Companies Inc. lifted its holdings in shares of Southern Copper by 6.8% during the 4th quarter. American Century Companies Inc. now owns 56,279 shares of the basic materials company's stock worth $5,129,000 after acquiring an additional 3,559 shares during the period. LPL Financial LLC grew its position in shares of Southern Copper by 7.9% during the fourth quarter. LPL Financial LLC now owns 135,849 shares of the basic materials company's stock worth $12,380,000 after buying an additional 9,966 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Southern Copper by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 972,657 shares of the basic materials company's stock worth $88,638,000 after buying an additional 18,426 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in Southern Copper by 58.9% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 94,015 shares of the basic materials company's stock worth $8,568,000 after purchasing an additional 34,852 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Southern Copper by 0.6% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 76,215 shares of the basic materials company's stock worth $7,013,000 after purchasing an additional 469 shares during the period. Hedge funds and other institutional investors own 7.94% of the company's stock.

Southern Copper Stock Up 3.8%

Southern Copper stock traded up $3.43 during midday trading on Thursday, reaching $93.97. The stock had a trading volume of 857,267 shares, compared to its average volume of 1,451,122. The stock has a market capitalization of $74.81 billion, a P/E ratio of 20.52, a price-to-earnings-growth ratio of 1.38 and a beta of 1.02. Southern Copper Corporation has a 1-year low of $74.84 and a 1-year high of $121.44. The firm's fifty day simple moving average is $97.33 and its 200-day simple moving average is $93.86. The company has a debt-to-equity ratio of 0.70, a quick ratio of 3.22 and a current ratio of 3.71.

Southern Copper Increases Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on SCCO shares. Itau BBA Securities upgraded Southern Copper from an "underperform" rating to a "market perform" rating in a research note on Wednesday, June 11th. JPMorgan Chase & Co. lowered their target price on Southern Copper from $83.50 to $79.00 and set a "neutral" rating on the stock in a research note on Thursday, July 3rd. Hsbc Global Res upgraded Southern Copper from a "moderate sell" rating to a "hold" rating in a report on Thursday, April 24th. UBS Group cut Southern Copper from a "buy" rating to a "neutral" rating and set a $105.00 target price for the company. in a research report on Tuesday, July 1st. Finally, Wall Street Zen lowered Southern Copper from a "buy" rating to a "hold" rating in a research note on Tuesday, May 20th. Three investment analysts have rated the stock with a sell rating and five have given a hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $91.00.

About Southern Copper

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.