Hexagon Capital Partners LLC Sells 942 Shares of Southern Copper Co. (NYSE:SCCO)

by · The Markets Daily

Hexagon Capital Partners LLC lowered its holdings in Southern Copper Co. (NYSE:SCCO – Free Report) by 53.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 815 shares of the basic materials company’s stock after selling 942 shares during the period. Hexagon Capital Partners LLC’s holdings in Southern Copper were worth $94,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Capital World Investors purchased a new position in Southern Copper during the first quarter valued at approximately $340,373,000. Price T Rowe Associates Inc. MD grew its stake in Southern Copper by 18.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,771,332 shares of the basic materials company’s stock valued at $827,804,000 after acquiring an additional 1,192,111 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Southern Copper by 54.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,541,396 shares of the basic materials company’s stock valued at $164,190,000 after acquiring an additional 544,312 shares in the last quarter. Los Angeles Capital Management LLC grew its stake in Southern Copper by 1,300.4% during the second quarter. Los Angeles Capital Management LLC now owns 443,285 shares of the basic materials company’s stock valued at $47,760,000 after acquiring an additional 411,630 shares in the last quarter. Finally, Lord Abbett & CO. LLC purchased a new position in Southern Copper during the first quarter valued at approximately $27,163,000. Institutional investors own 7.94% of the company’s stock.

Southern Copper Trading Up 1.7 %

NYSE:SCCO opened at $116.40 on Friday. The company has a fifty day moving average of $104.33 and a 200 day moving average of $109.64. Southern Copper Co. has a 52 week low of $68.93 and a 52 week high of $129.79. The company has a quick ratio of 2.27, a current ratio of 2.81 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $90.93 billion, a P/E ratio of 33.01, a P/E/G ratio of 1.22 and a beta of 1.18.

Southern Copper (NYSE:SCCO – Get Free Report) last issued its quarterly earnings data on Friday, July 19th. The basic materials company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.13 by $0.09. Southern Copper had a net margin of 26.15% and a return on equity of 34.98%. The business had revenue of $3.12 billion during the quarter, compared to analyst estimates of $2.96 billion. On average, research analysts predict that Southern Copper Co. will post 4.5 earnings per share for the current year.

Southern Copper Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were issued a $0.60 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.40 annualized dividend and a yield of 2.06%. Southern Copper’s dividend payout ratio (DPR) is presently 68.07%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Citigroup boosted their price target on shares of Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a research note on Wednesday, October 2nd. UBS Group assumed coverage on shares of Southern Copper in a research note on Friday, July 12th. They issued a “neutral” rating and a $120.00 price target for the company. Finally, Morgan Stanley boosted their price target on shares of Southern Copper from $97.00 to $100.00 and gave the stock an “underweight” rating in a research note on Thursday, September 19th. Six research analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $90.88.

View Our Latest Research Report on Southern Copper

Southern Copper Company 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.

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