Southern Copper Corporation $SCCO is General Pension Society PZU Joint Stock Co’s 2nd Largest Position

General Pension Society PZU Joint Stock Co cut its position in Southern Copper Corporation (NYSE:SCCO) by 13.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 335,619 shares of the basic materials company’s stock after selling 53,983 shares during the quarter. Southern Copper accounts for 14.2% of General Pension Society PZU Joint Stock Co’s holdings, making the stock its 2nd largest holding. General Pension Society PZU Joint Stock Co’s holdings in Southern Copper were worth $57,747,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Capital World Investors grew its position in Southern Copper by 36.1% in the 3rd quarter. Capital World Investors now owns 6,437,608 shares of the basic materials company’s stock valued at $781,268,000 after acquiring an additional 1,708,693 shares in the last quarter. Norges Bank acquired a new position in shares of Southern Copper in the fourth quarter valued at approximately $97,645,000. Capital Research Global Investors purchased a new stake in Southern Copper during the 4th quarter worth approximately $81,039,000. Arrowstreet Capital Limited Partnership acquired a new stake in Southern Copper during the 4th quarter worth approximately $46,560,000. Finally, USS Investment Management Ltd boosted its position in Southern Copper by 904.8% in the 4th quarter. USS Investment Management Ltd now owns 301,655 shares of the basic materials company’s stock valued at $43,272,000 after buying an additional 271,634 shares during the period. Institutional investors and hedge funds own 7.94% of the company’s stock.

Southern Copper Price Performance

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

Southern Copper Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Wednesday, May 13th were issued a $1.00 dividend. The ex-dividend date was Wednesday, May 13th. This represents a $4.00 annualized dividend and a dividend yield of 2.3%. Southern Copper’s dividend payout ratio is presently 66.12%.

Insider Activity

In related news, Director Bonilla Luis Miguel Palomino sold 200 shares of the stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $177.82, for a total value of $35,564.00. Following the transaction, the director directly owned 1,807 shares of the company’s stock, valued at $321,320.74. This trade represents a 9.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last ninety days, insiders have sold 404 shares of company stock valued at $74,108. Corporate insiders own 0.07% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. The Goldman Sachs Group raised Southern Copper from a “sell” rating to a “neutral” rating and set a $178.00 price objective on the stock in a research report on Friday, April 10th. Wall Street Zen raised Southern Copper from a “hold” rating to a “buy” rating in a research report on Saturday, June 27th. JPMorgan Chase & Co. boosted their price objective on Southern Copper from $127.00 to $131.50 and gave the stock an “underweight” rating in a research report on Wednesday, June 17th. Weiss Ratings restated a “buy (b)” rating on shares of Southern Copper in a research note on Wednesday, June 24th. Finally, Scotiabank reiterated an “underperform” rating and issued a $140.00 price target (up from $135.00) on shares of Southern Copper in a research note on Monday, June 15th. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and eight have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $147.19.

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.