SG Americas Securities LLC Has $810,000 Stock Position in Southern Copper Co. (NYSE:SCCO)

SG Americas Securities LLC lowered its position in shares of Southern Copper Co. (NYSE:SCCO) by 72.2% in the third quarter, HoldingsChannel reports. The firm owned 7,001 shares of the basic materials company’s stock after selling 18,146 shares during the period. SG Americas Securities LLC’s holdings in Southern Copper were worth $810,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Ensign Peak Advisors Inc increased its position in Southern Copper by 1.0% in the 2nd quarter. Ensign Peak Advisors Inc now owns 10,558 shares of the basic materials company’s stock valued at $1,138,000 after acquiring an additional 108 shares in the last quarter. Prudential PLC boosted its stake in Southern Copper by 1.0% during the 2nd quarter. Prudential PLC now owns 10,667 shares of the basic materials company’s stock worth $1,149,000 after acquiring an additional 109 shares during the last quarter. American Financial Advisors LLC boosted its stake in Southern Copper by 1.0% during the 2nd quarter. American Financial Advisors LLC now owns 11,718 shares of the basic materials company’s stock worth $1,262,000 after acquiring an additional 117 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in Southern Copper by 0.5% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 23,758 shares of the basic materials company’s stock worth $2,557,000 after acquiring an additional 118 shares during the last quarter. Finally, Wahed Invest LLC lifted its stake in Southern Copper by 9.0% in the fourth quarter. Wahed Invest LLC now owns 1,451 shares of the basic materials company’s stock valued at $125,000 after buying an additional 120 shares in the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on SCCO. Morgan Stanley lifted their price target on shares of Southern Copper from $97.00 to $100.00 and gave the company an “underweight” rating in a research note on Thursday, September 19th. Citigroup boosted their target price on shares of Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a report on Wednesday, October 2nd. Finally, UBS Group initiated coverage on shares of Southern Copper in a research report on Friday, July 12th. They set a “neutral” rating and a $120.00 price objective for the company. Six equities research 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. Based on data from MarketBeat, Southern Copper has a consensus rating of “Hold” and an average target price of $90.88.

Southern Copper Trading Up 1.1 %

SCCO stock opened at $117.64 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.27 and a current ratio of 2.81. The company’s 50-day simple moving average is $104.97 and its 200 day simple moving average is $109.83. Southern Copper Co. has a 52 week low of $68.93 and a 52 week high of $129.79. The company has a market capitalization of $91.90 billion, a PE ratio of 33.36, a price-to-earnings-growth ratio of 1.22 and a beta of 1.18.

Southern Copper (NYSE:SCCO) last announced its quarterly earnings data on Friday, July 19th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.09. The firm had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $2.96 billion. Southern Copper had a net margin of 26.15% and a return on equity of 34.98%. As a group, sell-side analysts anticipate that Southern Copper Co. will post 4.5 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 paid a dividend of $0.60 per share. The ex-dividend date was Friday, August 9th. This represents a $2.40 dividend on an annualized basis and a yield of 2.04%. Southern Copper’s payout ratio is 68.07%.

Southern Copper 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.