Plimoth Trust Co. LLC Sells 120 Shares of Southern Copper Co. (NYSE:SCCO)

Plimoth Trust Co. LLC cut its holdings in Southern Copper Co. (NYSE:SCCO) by 1.9% in the first quarter, HoldingsChannel reports. The firm 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 SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Wahed Invest LLC boosted its stake in Southern Copper by 9.0% during the fourth quarter. Wahed Invest LLC now owns 1,451 shares of the basic materials company’s stock worth $125,000 after buying an additional 120 shares in the last quarter. Janiczek Wealth Management LLC lifted its holdings in Southern Copper by 11.5% in the fourth quarter. Janiczek Wealth Management LLC now owns 1,227 shares of the basic materials company’s stock valued at $106,000 after buying an additional 127 shares during the period. CWM LLC increased its holdings in Southern Copper by 3.3% in the fourth quarter. CWM LLC now owns 4,329 shares of the basic materials company’s stock valued at $373,000 after purchasing an additional 137 shares during the last quarter. First National Trust Co raised its holdings in Southern Copper by 0.4% in the fourth quarter. First National Trust Co now owns 37,134 shares of the basic materials company’s stock worth $3,196,000 after purchasing an additional 150 shares during the period. Finally, Fortis Group Advisors LLC increased its holdings in shares of Southern Copper by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 302 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 151 shares in the last quarter. 7.94% of the stock is owned by institutional investors.

Insider Buying and Selling at Southern Copper

In other news, Director Bonilla Luis Miguel Palomino sold 300 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $118.50, for a total value of $35,550.00. Following the transaction, the director now owns 4,614 shares in the company, valued at approximately $546,759. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Bonilla Luis Miguel Palomino sold 300 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $118.50, for a total value of $35,550.00. Following the sale, the director now directly owns 4,614 shares in the company, valued at approximately $546,759. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director PALOMINO BONILLA LUIS MIGUEL sold 3,600 shares of the stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $118.30, for a total value of $425,880.00. Following the sale, the director now owns 2,214 shares in the company, valued at approximately $261,916.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,000 shares of company stock worth $472,430. 0.08% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on SCCO shares. Scotiabank dropped their target price on Southern Copper from $55.00 to $54.00 and set a “sector underperform” rating on the stock in a report on Tuesday, May 21st. StockNews.com upgraded Southern Copper from a “hold” rating to a “buy” rating in a research note on Wednesday, May 15th. Jefferies Financial Group raised 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. Morgan Stanley boosted their target price on shares of Southern Copper from $81.70 to $100.00 and gave the company an “underweight” rating in a research report on Friday, June 21st. Finally, HSBC cut shares of Southern Copper from a “hold” rating to a “reduce” rating and set a $80.00 price objective for the company. in a research note on Monday, April 22nd. Five analysts have rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $84.50.

Southern Copper Stock Performance

Shares of SCCO stock opened at $109.94 on Wednesday. The firm has a market capitalization of $85.88 billion, a price-to-earnings ratio of 36.54, a PEG ratio of 1.06 and a beta of 1.20. 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 business’s 50-day moving average price is $114.36 and its 200-day moving average price is $99.18. 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 earnings results on Thursday, April 25th. The basic materials company reported $0.94 EPS for the quarter, topping 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 firm had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.50 billion. Equities research analysts forecast that Southern Copper Co. will post 4.45 EPS for the current year.

Southern Copper Cuts Dividend

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

About Southern Copper

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.