APG Asset Management N.V. Sells 113,719 Shares of Southern Copper Co. (NYSE:SCCO)

APG Asset Management N.V. trimmed its position in shares of Southern Copper Co. (NYSE:SCCO) by 52.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 103,039 shares of the basic materials company’s stock after selling 113,719 shares during the period. APG Asset Management N.V.’s holdings in Southern Copper were worth $10,358,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently modified their holdings of the business. Fortis Group Advisors LLC grew its stake in Southern Copper by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 302 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 151 shares in the last quarter. Fidelis Capital Partners LLC bought a new stake in Southern Copper during the first quarter worth about $26,000. Riverview Trust Co bought a new position in Southern Copper during the first quarter valued at approximately $27,000. Itau Unibanco Holding S.A. purchased a new position in Southern Copper in the 2nd quarter worth $31,000. Finally, Hanseatic Management Services Inc. bought a new stake in shares of Southern Copper in the 2nd quarter valued at about $53,000. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on SCCO shares. Morgan Stanley lifted their price objective on Southern Copper from $97.00 to $100.00 and gave the stock an “underweight” rating in a research report on Thursday, September 19th. UBS Group started coverage on shares of Southern Copper in a report on Friday, July 12th. They set a “neutral” rating and a $120.00 price target on the stock. Five investment analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $89.57.

Southern Copper Trading Down 1.3 %

NYSE SCCO opened at $118.87 on Friday. Southern Copper Co. has a 12 month low of $68.93 and a 12 month high of $129.79. The company’s 50-day moving average price is $102.48 and its 200-day moving average price is $108.81. The stock has a market cap of $92.86 billion, a PE ratio of 39.51, a PEG ratio of 1.17 and a beta of 1.17. The company has a current ratio of 2.81, a quick ratio of 2.27 and a debt-to-equity ratio of 0.67.

Southern Copper (NYSE:SCCO) last issued its earnings results on Friday, July 19th. The basic materials company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $2.96 billion. Equities research analysts forecast that Southern Copper Co. will post 4.29 earnings per share for the current year.

Southern Copper Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were issued a dividend of $0.60 per share. The ex-dividend date was Friday, August 9th. This represents a $2.40 annualized dividend and a yield of 2.02%. Southern Copper’s payout ratio is currently 79.77%.

Southern Copper Company 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, copper, molybdenum, silver, gold, and lead.