US Bancorp DE Trims Stock Position in Southern Copper Co. (NYSE:SCCO)

US Bancorp DE trimmed its stake in Southern Copper Co. (NYSE:SCCO) by 16.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 55,871 shares of the basic materials company’s stock after selling 11,216 shares during the period. US Bancorp DE’s holdings in Southern Copper were worth $6,463,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cetera Investment Advisers lifted its holdings in Southern Copper by 395.1% in the first quarter. Cetera Investment Advisers now owns 38,803 shares of the basic materials company’s stock worth $4,133,000 after buying an additional 30,966 shares during the period. Advisors Asset Management Inc. lifted its stake in shares of Southern Copper by 21.7% in the 1st quarter. Advisors Asset Management Inc. now owns 90,237 shares of the basic materials company’s stock valued at $9,612,000 after purchasing an additional 16,111 shares during the period. CANADA LIFE ASSURANCE Co boosted its position in shares of Southern Copper by 182.3% during the first quarter. CANADA LIFE ASSURANCE Co now owns 278,119 shares of the basic materials company’s stock valued at $29,625,000 after purchasing an additional 179,590 shares in the last quarter. Oppenheimer & Co. Inc. grew its stake in Southern Copper by 157.1% in the first quarter. Oppenheimer & Co. Inc. now owns 22,175 shares of the basic materials company’s stock worth $2,362,000 after purchasing an additional 13,550 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in Southern Copper by 18.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,771,332 shares of the basic materials company’s stock worth $827,804,000 after purchasing an additional 1,192,111 shares in the last quarter. 7.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Scotiabank dropped their target price on shares of Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating on the stock in a report on Tuesday, October 15th. UBS Group began coverage on shares of Southern Copper in a report on Friday, July 12th. They issued a “neutral” rating and a $120.00 price objective on the stock. Morgan Stanley raised their target price 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. Finally, Citigroup boosted their price target on Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a research report on Wednesday, October 2nd. Six research analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Southern Copper currently has an average rating of “Hold” and a consensus price target of $90.63.

Southern Copper Price Performance

Shares of SCCO opened at $110.10 on Monday. The company has a market capitalization of $86.01 billion, a P/E ratio of 28.35, a price-to-earnings-growth ratio of 1.12 and a beta of 1.18. Southern Copper Co. has a twelve month low of $68.93 and a twelve month high of $129.79. The company has a quick ratio of 2.27, a current ratio of 2.81 and a debt-to-equity ratio of 0.67. The firm has a 50 day moving average of $108.45 and a 200 day moving average of $110.01.

Southern Copper Dividend Announcement

The firm also recently declared a — dividend, which will be paid on Thursday, November 21st. Stockholders of record on Wednesday, November 6th will be issued a dividend of $0.62 per share. This represents a dividend yield of 2.1%. The ex-dividend date of this dividend is Wednesday, November 6th. Southern Copper’s payout ratio is currently 61.79%.

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.