Hexagon Capital Partners LLC Sells 94 Shares of Southern Copper Co. (NYSE:SCCO)

Hexagon Capital Partners LLC reduced its holdings in Southern Copper Co. (NYSE:SCCO) by 3.6% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 2,502 shares of the basic materials company’s stock after selling 94 shares during the quarter. Hexagon Capital Partners LLC’s holdings in Southern Copper were worth $267,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Southern Copper in the 4th quarter valued at $71,802,000. International Assets Investment Management LLC increased its holdings in Southern Copper by 8,523.8% in the fourth quarter. International Assets Investment Management LLC now owns 172,907 shares of the basic materials company’s stock valued at $14,882,000 after purchasing an additional 170,902 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in Southern Copper by 378.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 166,398 shares of the basic materials company’s stock valued at $14,322,000 after buying an additional 131,651 shares during the period. Ameriprise Financial Inc. boosted its holdings in Southern Copper by 17.5% during the third quarter. Ameriprise Financial Inc. now owns 687,501 shares of the basic materials company’s stock worth $51,854,000 after buying an additional 102,286 shares during the last quarter. Finally, Schroder Investment Management Group grew its position in shares of Southern Copper by 17.5% during the 3rd quarter. Schroder Investment Management Group now owns 519,714 shares of the basic materials company’s stock worth $39,129,000 after buying an additional 77,518 shares during the period. 7.94% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Bonilla Luis Miguel Palomino sold 300 shares of Southern Copper 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 owns 4,614 shares of the company’s stock, valued at $546,759. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Southern Copper news, Director PALOMINO BONILLA LUIS MIGUEL sold 3,600 shares of the stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $118.30, for a total value of $425,880.00. Following the completion of the sale, the director now owns 2,214 shares in the company, valued at $261,916.20. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Bonilla Luis Miguel Palomino sold 300 shares of Southern Copper stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $118.50, for a total transaction of $35,550.00. Following the completion of the transaction, the director now directly owns 4,614 shares of the company’s stock, valued at approximately $546,759. The disclosure for this sale can be found here. Insiders have sold 4,100 shares of company stock valued at $483,450 in the last three months. 0.08% of the stock is currently owned by corporate insiders.

Southern Copper Price Performance

Shares of NYSE SCCO opened at $108.69 on Tuesday. The company has a fifty day moving average price of $114.42 and a 200 day moving average price of $98.99. Southern Copper Co. has a 1-year low of $67.64 and a 1-year high of $129.79. The firm has a market cap of $84.90 billion, a PE ratio of 36.13, 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.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.17. The company had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Southern Copper had a return on equity of 30.44% and a net margin of 24.20%. Research analysts predict that Southern Copper Co. will post 4.45 earnings per share for the current fiscal year.

Southern Copper Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Wednesday, May 8th were given a dividend of $0.01 per share. The ex-dividend date was Tuesday, May 7th. This represents a $0.04 annualized dividend and a yield of 0.04%. Southern Copper’s dividend payout ratio (DPR) is presently 1.33%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SCCO. JPMorgan Chase & Co. cut their price target on shares of Southern Copper from $63.50 to $61.00 and set an “underweight” rating on the stock in a research report on Thursday, March 21st. The Goldman Sachs Group upped their target price on shares of Southern Copper from $61.00 to $82.00 and gave the company a “sell” rating in a research note on Friday, March 22nd. Scotiabank reduced their price target on shares of Southern Copper from $55.00 to $54.00 and set a “sector underperform” rating on the stock in a research report on Tuesday, May 21st. StockNews.com upgraded shares of Southern Copper from a “hold” rating to a “buy” rating in a research report on Wednesday, May 15th. Finally, CICC Research started coverage on Southern Copper in a report on Wednesday, April 24th. They set an “outperform” rating on the stock. Five analysts have rated the stock with a sell rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $84.50.

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.