Banque Cantonale Vaudoise Sells 28,848 Shares of Southern Copper Corporation $SCCO

Banque Cantonale Vaudoise cut its stake in shares of Southern Copper Corporation (NYSE:SCCO) by 71.5% in the first quarter, Holdings Channel reports. The firm owned 11,525 shares of the basic materials company’s stock after selling 28,848 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Southern Copper were worth $1,983,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. CENTRAL TRUST Co raised its stake in Southern Copper by 16.5% during the 1st quarter. CENTRAL TRUST Co now owns 3,811 shares of the basic materials company’s stock worth $656,000 after buying an additional 539 shares during the period. Signal Advisors Wealth LLC bought a new stake in Southern Copper in the 1st quarter valued at $217,000. Essex Bank acquired a new position in Southern Copper in the 1st quarter worth $208,000. AGP Franklin LLC increased its holdings in Southern Copper by 3.1% during the 1st quarter. AGP Franklin LLC now owns 23,919 shares of the basic materials company’s stock worth $4,116,000 after purchasing an additional 713 shares in the last quarter. Finally, Triad Wealth Partners LLC raised its stake in shares of Southern Copper by 9.9% in the 1st quarter. Triad Wealth Partners LLC now owns 2,741 shares of the basic materials company’s stock valued at $472,000 after purchasing an additional 248 shares during the period. Institutional investors and hedge funds own 7.94% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SCCO. Wells Fargo & Company set a $171.00 price objective on Southern Copper and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Weiss Ratings restated a “buy (b)” rating on shares of Southern Copper in a research note on Wednesday. Barclays assumed coverage on Southern Copper in a research report on Thursday, May 21st. They set an “underweight” rating and a $148.00 price target for the company. JPMorgan Chase & Co. raised their price target on shares of Southern Copper from $127.00 to $131.50 and gave the stock an “underweight” rating in a research note on Wednesday, June 17th. Finally, Morgan Stanley increased their target price on shares of Southern Copper from $155.00 to $160.00 and gave the stock an “underweight” rating in a report on Thursday, April 9th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and eight have assigned a Sell rating to the stock. According to MarketBeat.com, Southern Copper currently has a consensus rating of “Reduce” and a consensus price target of $145.94.

Insiders Place Their Bets

In related news, Director Bonilla Luis Miguel Palomino sold 200 shares of the 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 sale, the director owned 1,807 shares in the company, valued at approximately $321,320.74. This represents a 9.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders sold 404 shares of company stock valued at $74,108. 0.07% of the stock is currently owned by corporate insiders.

Southern Copper Price Performance

NYSE:SCCO opened at $171.37 on Friday. Southern Copper Corporation has a 12-month low of $88.73 and a 12-month high of $223.88. The firm has a market capitalization of $141.57 billion, a price-to-earnings ratio of 28.33, a P/E/G ratio of 1.57 and a beta of 1.09. The stock’s 50 day moving average price is $183.33 and its two-hundred day moving average price is $178.82. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Wednesday, May 13th were issued a dividend of $1.00 per share. 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 2.3%. Southern Copper’s payout ratio is presently 66.12%.

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.