Southern Copper Corporation $SCCO Shares Sold by Pinpoint Asset Management Singapore Pte. Ltd.

Pinpoint Asset Management Singapore Pte. Ltd. cut its position in shares of Southern Copper Corporation (NYSE:SCCO) by 40.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,284 shares of the basic materials company’s stock after selling 3,539 shares during the quarter. Pinpoint Asset Management Singapore Pte. Ltd.’s holdings in Southern Copper were worth $758,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital World Investors raised its holdings in shares of Southern Copper by 36.1% in the third quarter. Capital World Investors now owns 6,437,608 shares of the basic materials company’s stock worth $781,268,000 after acquiring an additional 1,708,693 shares during the last quarter. Norges Bank acquired a new position in shares of Southern Copper in the fourth quarter worth $97,645,000. Capital Research Global Investors acquired a new position in shares of Southern Copper in the fourth quarter worth $81,039,000. Lord Abbett & CO. LLC acquired a new position in shares of Southern Copper in the fourth quarter worth $35,095,000. Finally, Axiom Investors LLC DE raised its holdings in shares of Southern Copper by 136.5% in the fourth quarter. Axiom Investors LLC DE now owns 379,991 shares of the basic materials company’s stock worth $54,517,000 after acquiring an additional 219,316 shares during the last quarter. 7.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SCCO. JPMorgan Chase & Co. boosted their price target on Southern Copper from $117.50 to $127.00 and gave the stock an “underweight” rating in a report on Friday, April 10th. The Goldman Sachs Group raised Southern Copper from a “sell” rating to a “neutral” rating and set a $178.00 price target for the company in a report on Friday, April 10th. Morgan Stanley boosted their price target on Southern Copper from $155.00 to $160.00 and gave the stock an “underweight” rating in a report on Thursday, April 9th. Bank of America cut Southern Copper from a “neutral” rating to an “underperform” rating and boosted their price target for the stock from $162.00 to $175.00 in a report on Thursday, February 26th. Finally, Wells Fargo & Company set a $171.00 price target on Southern Copper and gave the stock an “equal weight” rating in a report on Friday, May 1st. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and eight have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Southern Copper presently has a consensus rating of “Reduce” and an average target price of $145.14.

Southern Copper Price Performance

Shares of NYSE:SCCO opened at $189.72 on Friday. The company has a market cap of $155.40 billion, a P/E ratio of 31.36, a P/E/G ratio of 1.72 and a beta of 1.09. 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 52 week low of $88.73 and a 52 week high of $223.88. The business has a fifty day simple moving average of $183.38 and a 200-day simple moving average of $175.21.

Southern Copper (NYSE:SCCO) last announced its quarterly earnings data on Wednesday, April 29th. The basic materials company reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.88 by $0.04. The business had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $3.96 billion. Southern Copper had a return on equity of 45.63% and a net margin of 34.13%. Equities research analysts forecast that Southern Copper Corporation will post 7.25 EPS for the current year.

Southern Copper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Wednesday, May 13th were given a $1.00 dividend. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.1%. Southern Copper’s payout ratio is currently 66.12%.

Insider Activity at Southern Copper

In other news, Director Bonilla Luis Miguel Palomino sold 200 shares of Southern Copper stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $177.82, for a total value of $35,564.00. Following the completion of the sale, the director owned 1,807 shares of the company’s stock, valued at $321,320.74. The trade was 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 the SEC website. Insiders sold a total of 404 shares of company stock valued at $74,108 over the last ninety days. 0.07% of the stock is owned by insiders.

Southern Copper Company 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.