Deprince Race & Zollo Inc. Lowers Stock Holdings in Southern Copper Corporation $SCCO

Deprince Race & Zollo Inc. cut its position in Southern Copper Corporation (NYSE:SCCO) by 27.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,688 shares of the basic materials company’s stock after selling 18,619 shares during the quarter. Deprince Race & Zollo Inc.’s holdings in Southern Copper were worth $8,549,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in SCCO. SHP Wealth Management purchased a new stake in Southern Copper during the fourth quarter valued at about $25,000. Lloyd Advisory Services LLC. purchased a new position in Southern Copper in the 4th quarter worth approximately $29,000. Virtus Advisers LLC bought a new stake in Southern Copper in the fourth quarter valued at approximately $29,000. Godfrey Financial Associates Inc. bought a new stake in Southern Copper in the fourth quarter valued at approximately $30,000. Finally, IFP Advisors Inc boosted its stake in shares of Southern Copper by 233.3% during the fourth quarter. IFP Advisors Inc now owns 230 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 161 shares during the period. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Southern Copper Trading Up 1.7%

Shares of SCCO opened at $171.73 on Friday. Southern Copper Corporation has a 1-year low of $88.73 and a 1-year high of $223.88. The company has a current ratio of 4.38, a quick ratio of 3.89 and a debt-to-equity ratio of 0.57. The firm’s 50-day moving average price is $181.85 and its 200-day moving average price is $179.90. The firm has a market capitalization of $141.86 billion, a price-to-earnings ratio of 28.39, a PEG ratio of 1.52 and a beta of 1.11.

Southern Copper Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Wednesday, May 13th were given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Wednesday, May 13th. Southern Copper’s payout ratio is presently 66.12%.

Insiders Place Their Bets

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 200 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $177.82, for a total transaction of $35,564.00. Following the transaction, 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. Over the last quarter, insiders sold 404 shares of company stock worth $74,108. Insiders own 0.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on SCCO shares. Barclays began coverage on shares of Southern Copper in a report on Thursday, May 21st. They issued an “underweight” rating and a $148.00 target price on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Southern Copper in a research note on Wednesday, June 24th. Morgan Stanley boosted their price target on Southern Copper from $155.00 to $160.00 and gave the company an “underweight” rating in a report on Thursday, April 9th. Wells Fargo & Company set a $171.00 price target on Southern Copper and gave the company an “equal weight” rating in a research report on Friday, May 1st. Finally, JPMorgan Chase & Co. increased their price objective on Southern Copper from $127.00 to $131.50 and gave the stock an “underweight” rating in a report on Wednesday, June 17th. 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. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $147.19.

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.