Temasek Holdings Private Ltd Sells 136,010 Shares of Southern Copper Corporation $SCCO

Temasek Holdings Private Ltd reduced its stake in shares of Southern Copper Corporation (NYSE:SCCO) by 35.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 243,788 shares of the basic materials company’s stock after selling 136,010 shares during the quarter. Temasek Holdings Private Ltd’s holdings in Southern Copper were worth $29,586,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of SCCO. Hopwood Financial Services Inc. acquired a new stake in shares of Southern Copper in the 3rd quarter valued at approximately $25,000. MJT & Associates Financial Advisory Group Inc. grew its holdings in Southern Copper by 65.1% during the third quarter. MJT & Associates Financial Advisory Group Inc. now owns 213 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 84 shares during the period. Caitlin John LLC acquired a new position in Southern Copper during the third quarter valued at approximately $30,000. United Community Bank bought a new stake in Southern Copper in the third quarter valued at approximately $30,000. Finally, Covestor Ltd raised its holdings in Southern Copper by 30.4% in the third quarter. Covestor Ltd now owns 360 shares of the basic materials company’s stock worth $44,000 after purchasing an additional 84 shares during the period. 7.94% of the stock is owned by institutional investors.

Southern Copper Stock Down 5.3%

Southern Copper stock opened at $171.05 on Friday. The company has a 50 day moving average of $190.66 and a 200-day moving average of $148.84. The company has a quick ratio of 3.40, a current ratio of 3.89 and a debt-to-equity ratio of 0.61. Southern Copper Corporation has a twelve month low of $74.84 and a twelve month high of $223.88. The stock has a market capitalization of $138.92 billion, a PE ratio of 32.15, a price-to-earnings-growth ratio of 1.86 and a beta of 1.03.

Southern Copper Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Tuesday, February 10th were given a $1.00 dividend. The ex-dividend date of this dividend was Tuesday, February 10th. This represents a $4.00 annualized dividend and a yield of 2.3%. This is an increase from Southern Copper’s previous quarterly dividend of $0.90. Southern Copper’s payout ratio is presently 75.19%.

Analyst Upgrades and Downgrades

SCCO has been the topic of a number of recent analyst reports. Itau BBA Securities cut shares of Southern Copper from a “market perform” rating to an “underperform” rating and set a $124.94 price target on the stock. in a research report on Monday, December 22nd. Bank of America cut shares of Southern Copper from a “neutral” rating to an “underperform” rating and upped their price objective for the company from $162.00 to $175.00 in a research report on Thursday, February 26th. Citigroup reaffirmed a “sell” rating on shares of Southern Copper in a research note on Monday, January 12th. Scotiabank reiterated an “underperform” rating on shares of Southern Copper in a report on Tuesday, January 27th. Finally, JPMorgan Chase & Co. reissued an “underweight” rating and issued a $116.51 target price (down from $118.49) on shares of Southern Copper in a research note on Friday, January 23rd. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and eight have issued a Sell rating to the stock. According to data from MarketBeat.com, Southern Copper currently has an average rating of “Reduce” and an average target price of $139.99.

Insiders Place Their Bets

In other Southern Copper news, Director Lerdo De Tejada Leon Contreras sold 9,326 shares of the stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $209.56, for a total transaction of $1,954,344.91. Following the completion of the transaction, the director owned 605 shares in the company, valued at approximately $126,783.04. This represents a 93.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.07% of the company’s stock.

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.