Southern Copper Corporation $SCCO Shares Sold by Sigma Planning Corp

Sigma Planning Corp lessened its stake in shares of Southern Copper Corporation (NYSE:SCCO) by 85.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,616 shares of the basic materials company’s stock after selling 9,319 shares during the quarter. Sigma Planning Corp’s holdings in Southern Copper were worth $328,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of SCCO. Royal Palms Capital LLC acquired a new position in shares of Southern Copper during the third quarter worth $3,824,000. Randolph Co Inc purchased a new position in Southern Copper in the third quarter valued at about $44,615,000. Signaturefd LLC increased its holdings in Southern Copper by 1.8% during the 3rd quarter. Signaturefd LLC now owns 8,572 shares of the basic materials company’s stock worth $1,737,000 after purchasing an additional 153 shares during the last quarter. Carolina Wealth Advisors LLC boosted its stake in shares of Southern Copper by 1.9% during the 3rd quarter. Carolina Wealth Advisors LLC now owns 27,301 shares of the basic materials company’s stock valued at $5,532,000 after buying an additional 496 shares during the last quarter. Finally, RWC Asset Management LLP bought a new stake in shares of Southern Copper in the third quarter worth $5,668,000. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Southern Copper Stock Performance

NYSE:SCCO opened at $177.60 on Monday. The company has a current ratio of 5.06, a quick ratio of 4.56 and a debt-to-equity ratio of 0.63. The firm has a market cap of $148.18 billion, a price-to-earnings ratio of 23.25, a price-to-earnings-growth ratio of 1.64 and a beta of 1.15. Southern Copper Corporation has a twelve month low of $119.25 and a twelve month high of $223.88. The company has a 50-day moving average of $200.92 and a 200-day moving average of $187.49.

Southern Copper shares are set to split on Tuesday, November 3rd. The 1.0106-1 split was recently announced. The newly created shares will be payable to shareholders after the market closes on Monday, November 2nd.

Southern Copper (NYSE:SCCO) last announced its earnings results on Wednesday, October 21st. The basic materials company reported $2.15 EPS for the quarter, topping the consensus estimate of $2.03 by $0.12. Southern Copper had a net margin of 37.16% and a return on equity of 53.46%. The company had revenue of $4.70 billion during the quarter, compared to analysts’ expectations of $4.49 billion. During the same period last year, the company posted $1.35 earnings per share. Analysts forecast that Southern Copper Corporation will post 8.03 earnings per share for the current fiscal year.

Southern Copper Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Tuesday, November 3rd will be paid a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, November 3rd. This represents a $5.20 annualized dividend and a yield of 2.9%. This is an increase from Southern Copper’s previous quarterly dividend of $1.10. Southern Copper’s dividend payout ratio (DPR) is currently 57.59%.

Analyst Ratings Changes

SCCO has been the subject of several research analyst reports. Zacks Research downgraded shares of Southern Copper from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 7th. CICC Research downgraded shares of Southern Copper to a “market perform” rating in a report on Sunday, July 26th. Barclays set a $165.00 price target on shares of Southern Copper and gave the stock an “underweight” rating in a research report on Monday, October 26th. Citigroup restated a “positive” rating on shares of Southern Copper in a research report on Wednesday, July 15th. Finally, Weiss Ratings cut shares of Southern Copper from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and seven have given a Sell rating to the company. According to MarketBeat, Southern Copper presently has an average rating of “Reduce” and an average target price of $160.95.

Insider Transactions at Southern Copper

In other Southern Copper news, Director Luis Palomino Bonilla sold 202 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $196.79, for a total transaction of $39,751.28. Following the completion of the sale, the director directly owned 1,723 shares in the company, valued at approximately $339,066.65. This trade represents a 10.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last three months, insiders sold 603 shares of company stock valued at $120,213. 0.07% of the stock is currently owned by corporate insiders.

Southern Copper Profile

Southern Copper Corporation (NYSE:SCCO) is a mining and metals company engaged primarily in the exploration, development, extraction, processing and production of copper. The company also produces molybdenum, zinc, silver and lead, along with related byproducts. Its operations include open-pit mines, underground mines, concentrators, smelters, refineries and other processing facilities.

Southern Copper operates mainly in Peru and Mexico. Its Peruvian assets include the Toquepala and Cuajone copper mines, while its Mexican operations include the Buenavista del Cobre and La Caridad mines, as well as associated processing and infrastructure facilities.