Southern Copper Co. (NYSE:SCCO) Shares Sold by Hexagon Capital Partners LLC

Hexagon Capital Partners LLC reduced its holdings in shares of Southern Copper Co. (NYSE:SCCO) by 29.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,757 shares of the basic materials company’s stock after selling 745 shares during the quarter. Hexagon Capital Partners LLC’s holdings in Southern Copper were worth $189,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Fortis Group Advisors LLC boosted its position in Southern Copper by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 302 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 151 shares during the period. Fidelis Capital Partners LLC purchased a new stake in shares of Southern Copper in the first quarter worth about $26,000. Riverview Trust Co acquired a new stake in shares of Southern Copper in the first quarter valued at about $27,000. ICA Group Wealth Management LLC purchased a new stake in shares of Southern Copper during the 4th quarter valued at about $61,000. Finally, Allworth Financial LP lifted its position in Southern Copper by 277.7% during the 4th quarter. Allworth Financial LP now owns 1,065 shares of the basic materials company’s stock worth $92,000 after acquiring an additional 783 shares in the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Wall Street Analysts Forecast Growth

SCCO has been the topic of a number of analyst reports. Morgan Stanley lifted their price objective on shares of Southern Copper from $81.70 to $100.00 and gave the company an “underweight” rating in a research note on Friday, June 21st. 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 report on Monday, April 22nd. Scotiabank cut their price target on Southern Copper from $55.00 to $54.00 and set a “sector underperform” rating on the stock in a research note on Tuesday, May 21st. CICC Research initiated coverage on Southern Copper in a report on Wednesday, April 24th. They issued an “outperform” rating for the company. Finally, StockNews.com upgraded Southern Copper from a “hold” rating to a “buy” rating in a report on Wednesday, May 15th. Five investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $89.57.

Southern Copper Stock Performance

NYSE:SCCO traded down $0.16 during trading hours on Friday, reaching $99.17. 703,021 shares of the stock were exchanged, compared to its average volume of 1,247,170. The stock has a market capitalization of $77.47 billion, a P/E ratio of 32.96, a P/E/G ratio of 1.01 and a beta of 1.20. The firm has a 50 day simple moving average of $108.04 and a 200-day simple moving average of $103.81. The company has a quick ratio of 2.56, a current ratio of 2.81 and a debt-to-equity ratio of 0.67. Southern Copper Co. has a 52 week low of $68.93 and a 52 week high of $129.79.

Southern Copper Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 26th. Shareholders of record on Friday, August 9th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date is Friday, August 9th. Southern Copper’s dividend payout ratio is presently 92.07%.

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.