Southern Copper Corp (SCCO) Shares Sold by Nikko Asset Management Americas Inc.

Nikko Asset Management Americas Inc. lessened its position in Southern Copper Corp (NYSE:SCCO) by 8.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 101,104 shares of the basic materials company’s stock after selling 9,282 shares during the period. Nikko Asset Management Americas Inc.’s holdings in Southern Copper were worth $4,012,000 as of its most recent filing with the SEC.

A number of other large investors have also recently modified their holdings of the business. Raymond James & Associates boosted its holdings in shares of Southern Copper by 2.6% in the fourth quarter. Raymond James & Associates now owns 14,397 shares of the basic materials company’s stock valued at $443,000 after buying an additional 359 shares during the period. CENTRAL TRUST Co boosted its holdings in shares of Southern Copper by 12.9% in the first quarter. CENTRAL TRUST Co now owns 4,481 shares of the basic materials company’s stock valued at $178,000 after buying an additional 511 shares during the period. Nisa Investment Advisors LLC boosted its holdings in shares of Southern Copper by 1.4% in the first quarter. Nisa Investment Advisors LLC now owns 56,272 shares of the basic materials company’s stock valued at $2,233,000 after buying an additional 800 shares during the period. CIBC Asset Management Inc boosted its holdings in shares of Southern Copper by 3.2% in the fourth quarter. CIBC Asset Management Inc now owns 34,412 shares of the basic materials company’s stock valued at $1,059,000 after buying an additional 1,058 shares during the period. Finally, Gateway Investment Advisers LLC boosted its holdings in shares of Southern Copper by 0.6% in the fourth quarter. Gateway Investment Advisers LLC now owns 181,020 shares of the basic materials company’s stock valued at $5,570,000 after buying an additional 1,088 shares during the period. 7.30% of the stock is owned by hedge funds and other institutional investors.

Several brokerages recently commented on SCCO. ValuEngine cut shares of Southern Copper from a “hold” rating to a “sell” rating in a report on Wednesday, May 1st. HSBC upgraded shares of Southern Copper from a “reduce” rating to a “hold” rating and set a $37.00 target price for the company in a report on Tuesday, March 19th. TheStreet upgraded shares of Southern Copper from a “c+” rating to a “b-” rating in a report on Monday, March 11th. Bank of America assumed coverage on shares of Southern Copper in a research note on Tuesday, January 29th. They issued a “buy” rating and a $39.00 price target for the company. Finally, Citigroup upgraded shares of Southern Copper from a “sell” rating to a “buy” rating and increased their price target for the company from $33.00 to $41.00 in a research note on Tuesday, February 19th. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. Southern Copper has a consensus rating of “Hold” and an average price target of $41.86.

SCCO stock traded up $0.21 during trading hours on Friday, reaching $33.48. The stock had a trading volume of 592,000 shares, compared to its average volume of 1,044,997. The stock has a market cap of $26.72 billion, a P/E ratio of 16.74, a P/E/G ratio of 1.01 and a beta of 0.70. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.83 and a quick ratio of 1.91. Southern Copper Corp has a fifty-two week low of $29.01 and a fifty-two week high of $52.63.

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Friday, May 3rd were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 4.78%. The ex-dividend date of this dividend was Thursday, May 2nd. Southern Copper’s payout ratio is presently 80.00%.

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Southern Copper 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 and lead.

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

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