Greenline Partners LLC Cuts Stock Holdings in Southern Copper Co. (NYSE:SCCO)

Greenline Partners LLC cut its stake in Southern Copper Co. (NYSE:SCCO) by 2.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 94,069 shares of the basic materials company’s stock after selling 1,942 shares during the period. Southern Copper comprises about 1.2% of Greenline Partners LLC’s holdings, making the stock its 21st largest holding. Greenline Partners LLC’s holdings in Southern Copper were worth $8,573,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nordea Investment Management AB grew its stake in shares of Southern Copper by 15.3% during the fourth quarter. Nordea Investment Management AB now owns 108,753 shares of the basic materials company’s stock worth $9,969,000 after purchasing an additional 14,391 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its position in shares of Southern Copper by 22.2% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 137,019 shares of the basic materials company’s stock worth $12,487,000 after acquiring an additional 24,933 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Southern Copper in the 4th quarter valued at about $8,420,000. Charles Schwab Investment Management Inc. raised its position in shares of Southern Copper by 2.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 237,437 shares of the basic materials company’s stock worth $21,638,000 after acquiring an additional 4,889 shares in the last quarter. Finally, Geneos Wealth Management Inc. purchased a new stake in Southern Copper during the fourth quarter worth approximately $308,000. 7.94% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SCCO has been the topic of a number of research analyst reports. Hsbc Global Res raised shares of Southern Copper from a “moderate sell” rating to a “hold” rating in a report on Thursday, April 24th. UBS Group reduced their price target on shares of Southern Copper from $120.00 to $100.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. Scotiabank upped their price objective on shares of Southern Copper from $52.00 to $72.00 and gave the company a “sector underperform” rating in a research note on Monday, March 10th. JPMorgan Chase & Co. cut their target price on Southern Copper from $84.00 to $83.50 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Finally, StockNews.com cut Southern Copper from a “buy” rating to a “hold” rating in a research report on Monday, April 28th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $91.50.

Southern Copper Price Performance

Shares of SCCO opened at $89.34 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.77. Southern Copper Co. has a fifty-two week low of $74.11 and a fifty-two week high of $126.09. The firm has a 50-day simple moving average of $90.37 and a 200-day simple moving average of $95.68. The company has a market capitalization of $71.13 billion, a price-to-earnings ratio of 20.68, a price-to-earnings-growth ratio of 1.90 and a beta of 1.05.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings data on Friday, April 25th. The basic materials company reported $1.19 EPS for the quarter, beating the consensus estimate of $1.05 by $0.14. Southern Copper had a return on equity of 40.27% and a net margin of 29.53%. The firm had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.05 billion. On average, equities research analysts anticipate that Southern Copper Co. will post 4.66 earnings per share for the current year.

Southern Copper Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Monday, May 19th. Investors of record on Monday, May 5th will be given a $0.70 dividend. The ex-dividend date is Friday, May 2nd. This represents a yield of 2.98%. Southern Copper’s dividend payout ratio (DPR) is 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.