Southern Copper Co. (NYSE:SCCO) Shares Sold by Plimoth Trust Co. LLC

Plimoth Trust Co. LLC reduced its holdings in shares of Southern Copper Co. (NYSE:SCCO) by 1.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 6,200 shares of the basic materials company’s stock after selling 120 shares during the period. Plimoth Trust Co. LLC’s holdings in Southern Copper were worth $660,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Riverview Trust Co purchased a new stake in shares of Southern Copper in the first quarter valued at $27,000. Fortis Group Advisors LLC boosted its position in Southern Copper by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 302 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 151 shares during the last quarter. Viking Fund Management LLC purchased a new position in Southern Copper in the fourth quarter valued at about $31,000. Venturi Wealth Management LLC raised its stake in shares of Southern Copper by 164.8% during the 4th quarter. Venturi Wealth Management LLC now owns 482 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 300 shares in the last quarter. Finally, Washington Trust Advisors Inc. acquired a new stake in shares of Southern Copper during the 4th quarter valued at about $45,000. 7.94% of the stock is owned by institutional investors and hedge funds.

Southern Copper Trading Up 1.2 %

NYSE SCCO opened at $109.94 on Wednesday. The stock’s fifty day moving average price is $114.36 and its 200-day moving average price is $99.18. The company has a current ratio of 3.31, a quick ratio of 2.56 and a debt-to-equity ratio of 0.82. The stock has a market cap of $85.88 billion, a P/E ratio of 36.54, a P/E/G ratio of 1.06 and a beta of 1.20. Southern Copper Co. has a 12 month low of $67.64 and a 12 month high of $129.79.

Southern Copper (NYSE:SCCO) last announced its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.77 by $0.17. Southern Copper had a return on equity of 30.44% and a net margin of 24.20%. The business had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.50 billion. As a group, equities analysts forecast that Southern Copper Co. will post 4.45 EPS for the current fiscal year.

Southern Copper Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Wednesday, May 8th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.04%. The ex-dividend date of this dividend was Tuesday, May 7th. Southern Copper’s dividend payout ratio is presently 1.33%.

Insiders Place Their Bets

In other news, Director PALOMINO BONILLA LUIS MIGUEL sold 3,600 shares of the company’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $118.30, for a total transaction of $425,880.00. Following the completion of the sale, the director now owns 2,214 shares of the company’s stock, valued at $261,916.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Southern Copper news, Director PALOMINO BONILLA LUIS MIGUEL sold 3,600 shares of Southern Copper stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $118.30, for a total value of $425,880.00. Following the transaction, the director now directly owns 2,214 shares in the company, valued at $261,916.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Bonilla Luis Miguel Palomino sold 300 shares of the firm’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $118.50, for a total transaction of $35,550.00. Following the completion of the sale, the director now owns 4,614 shares of the company’s stock, valued at approximately $546,759. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,000 shares of company stock valued at $472,430. 0.08% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. StockNews.com raised shares of Southern Copper from a “hold” rating to a “buy” rating in a report on Wednesday, May 15th. JPMorgan Chase & Co. dropped their price objective on Southern Copper from $63.50 to $61.00 and set an “underweight” rating on the stock in a research note on Thursday, March 21st. Jefferies Financial Group upgraded shares of Southern Copper from a “hold” rating to a “buy” rating and raised their target price for the company from $91.00 to $130.00 in a research note on Friday, March 22nd. HSBC downgraded Southern Copper from a “hold” rating to a “reduce” rating and set a $80.00 target price on the stock. in a research report on Monday, April 22nd. Finally, Scotiabank dropped their price target on shares of Southern Copper from $55.00 to $54.00 and set a “sector underperform” rating for the company in a research report on Tuesday, May 21st. Five research analysts have rated the stock with a sell rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Southern Copper has an average rating of “Hold” and a consensus price target of $84.50.

Southern Copper Company Profile

Southern Copper Corporation engages in mining, exploring, smelting, and refining copper and other minerals in Peru, Mexico, Argentina, Ecuador, and Chile. The company is involved in the mining, milling, and flotation of copper ore to produce copper and molybdenum concentrates; smelting of copper concentrates to produce blister and anode copper; refining of anode copper to produce copper cathodes; production of molybdenum concentrate and sulfuric acid; production of refined silver, gold, and other materials; and mining and processing of zinc, copper, molybdenum, silver, gold, and lead.