Vise Technologies Inc. Sells 934 Shares of Southern Copper Co. (NYSE:SCCO)

Vise Technologies Inc. lowered its position in Southern Copper Co. (NYSE:SCCOFree Report) by 21.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,519 shares of the basic materials company’s stock after selling 934 shares during the period. Vise Technologies Inc.’s holdings in Southern Copper were worth $303,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of SCCO. Viking Fund Management LLC purchased a new stake in shares of Southern Copper during the fourth quarter worth about $31,000. Venturi Wealth Management LLC grew its position in 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 during the last quarter. Washington Trust Advisors Inc. acquired a new position in Southern Copper during the 4th quarter valued at approximately $45,000. Planned Solutions Inc. purchased a new position in shares of Southern Copper in the fourth quarter worth $88,000. Finally, Allworth Financial LP lifted its stake in shares of Southern Copper by 277.7% during the fourth quarter. Allworth Financial LP now owns 1,065 shares of the basic materials company’s stock worth $92,000 after buying an additional 783 shares during the period. Institutional investors own 7.94% of the company’s stock.

Insider Activity at Southern Copper

In other news, Director Bonilla Luis Miguel Palomino sold 300 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $118.50, for a total transaction of $35,550.00. Following the sale, the director now directly owns 4,614 shares in the company, valued at approximately $546,759. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders have sold 600 shares of company stock worth $63,430. 0.08% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. reduced their target price on Southern Copper from $63.50 to $61.00 and set an “underweight” rating for the company in a research note on Thursday, March 21st. Scotiabank lifted their target price on Southern Copper from $53.00 to $55.00 and gave the stock a “sector underperform” rating in a report on Thursday, April 18th. Morgan Stanley increased their price target on shares of Southern Copper from $123.00 to $135.00 and gave the stock an “underweight” rating in a report on Tuesday, April 30th. CICC Research assumed coverage on shares of Southern Copper in a research note on Wednesday, April 24th. They set an “outperform” rating for the company. Finally, Jefferies Financial Group raised shares of Southern Copper from a “hold” rating to a “buy” rating and upped their price objective for the company from $91.00 to $130.00 in a report on Friday, March 22nd. Five analysts have rated the stock with a sell rating and three have given a buy rating to the company. According to data from MarketBeat.com, Southern Copper has an average rating of “Hold” and a consensus target price of $90.50.

View Our Latest Stock Analysis on Southern Copper

Southern Copper Stock Performance

Southern Copper stock traded down $0.90 during mid-day trading on Wednesday, hitting $122.89. The company had a trading volume of 1,259,237 shares, compared to its average volume of 1,182,566. The company has a market capitalization of $96.00 billion, a price-to-earnings ratio of 40.43, a P/E/G ratio of 2.72 and a beta of 1.27. Southern Copper Co. has a 12-month low of $64.66 and a 12-month high of $125.54. The company’s fifty day moving average is $108.41 and its 200-day moving average is $89.58. The company has a current ratio of 3.31, a quick ratio of 2.56 and a debt-to-equity ratio of 0.82.

Southern Copper Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Wednesday, May 8th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date is Tuesday, May 7th. Southern Copper’s dividend payout ratio (DPR) is presently 1.33%.

Southern Copper Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Southern Copper (NYSE:SCCO)

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