Southern Copper Co. (NYSE:SCCO) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System trimmed its holdings in shares of Southern Copper Co. (NYSE:SCCO – Get Rating) by 3.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 204,503 shares of the basic materials company’s stock after selling 7,897 shares during the period. California Public Employees Retirement System’s holdings in Southern Copper were worth $12,350,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Janiczek Wealth Management LLC grew its holdings in Southern Copper by 24.1% during the fourth quarter. Janiczek Wealth Management LLC now owns 835 shares of the basic materials company’s stock worth $63,000 after acquiring an additional 162 shares during the period. Hennion & Walsh Asset Management Inc. grew its holdings in Southern Copper by 1.2% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 13,418 shares of the basic materials company’s stock worth $810,000 after acquiring an additional 165 shares during the period. Confluence Investment Management LLC grew its holdings in Southern Copper by 2.4% during the fourth quarter. Confluence Investment Management LLC now owns 7,233 shares of the basic materials company’s stock worth $437,000 after acquiring an additional 167 shares during the period. Moneda USA Inc. grew its holdings in Southern Copper by 0.9% during the fourth quarter. Moneda USA Inc. now owns 19,714 shares of the basic materials company’s stock worth $1,194,000 after acquiring an additional 177 shares during the period. Finally, Captrust Financial Advisors grew its holdings in Southern Copper by 4.6% during the first quarter. Captrust Financial Advisors now owns 4,488 shares of the basic materials company’s stock worth $341,000 after acquiring an additional 196 shares during the period. 7.03% of the stock is owned by institutional investors and hedge funds.

Southern Copper Trading Up 0.1 %

Shares of NYSE SCCO opened at $69.49 on Monday. Southern Copper Co. has a one year low of $42.42 and a one year high of $82.05. The firm has a market capitalization of $53.72 billion, a PE ratio of 20.14, a PEG ratio of 16.83 and a beta of 1.23. The company has a current ratio of 4.17, a quick ratio of 3.38 and a debt-to-equity ratio of 0.76. The business has a 50-day moving average price of $75.17 and a two-hundred day moving average price of $68.83.

Southern Copper Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 23rd. Shareholders of record on Tuesday, May 9th will be given a dividend of $0.95 per share. The ex-dividend date of this dividend is Monday, May 8th. This represents a $3.80 dividend on an annualized basis and a yield of 5.47%. Southern Copper’s payout ratio is presently 115.94%.

Insiders Place Their Bets

In other news, Director Bonilla Luis Miguel Palomino sold 500 shares of Southern Copper stock in a transaction dated Friday, May 5th. The stock was sold at an average price of $78.97, for a total transaction of $39,485.00. Following the completion of the sale, the director now directly owns 6,514 shares in the company, valued at approximately $514,410.58. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Andreve Vicente Ariztegui sold 1,500 shares of Southern Copper stock in a transaction dated Thursday, February 16th. The stock was sold at an average price of $76.11, for a total transaction of $114,165.00. Following the completion of the sale, the director now directly owns 4,400 shares in the company, valued at approximately $334,884. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Bonilla Luis Miguel Palomino sold 500 shares of Southern Copper stock in a transaction dated Friday, May 5th. The shares were sold at an average price of $78.97, for a total value of $39,485.00. Following the sale, the director now owns 6,514 shares of the company’s stock, valued at $514,410.58. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,500 shares of company stock worth $192,900. 0.08% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

SCCO has been the topic of a number of research analyst reports. Barclays lifted their target price on Southern Copper from $53.00 to $64.00 and gave the stock an “equal weight” rating in a report on Friday, April 21st. UBS Group lifted their price target on Southern Copper from $48.00 to $51.00 and gave the stock a “sell” rating in a research note on Thursday, February 23rd. Morgan Stanley cut Southern Copper from an “overweight” rating to an “equal weight” rating and set a $70.00 price target on the stock. in a research note on Wednesday, March 29th. The Goldman Sachs Group cut Southern Copper from a “neutral” rating to a “sell” rating and lifted their price target for the stock from $65.00 to $66.00 in a research note on Tuesday, May 9th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Southern Copper from $55.00 to $56.00 in a research note on Wednesday, May 3rd. Four research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $62.29.

Southern Copper Company Profile

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Southern Copper Corp. engages in the development, production, and exploration of copper, molybdenum, zinc, and silver. It operates through the following segments: Peruvian Operations, Mexican Open-Pit Operations, and Mexican Underground Mining Operations. The Peruvian Operations segment focuses on the Toquepala and Cuajone mine complexes and the smelting and refining plants, industrial railroad, and port facilities that service both mines.