Atria Investments Inc Reduces Stake in Southern Copper Co. (NYSE:SCCO)

Atria Investments Inc lowered its position in Southern Copper Co. (NYSE:SCCO) by 1.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,067 shares of the basic materials company’s stock after selling 443 shares during the period. Atria Investments Inc’s holdings in Southern Copper were worth $2,900,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of SCCO. Ensign Peak Advisors Inc grew its stake in shares of Southern Copper by 1.0% during 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 purchasing an additional 108 shares during the period. Prudential PLC grew its position in Southern Copper by 1.0% during the second quarter. Prudential PLC now owns 10,667 shares of the basic materials company’s stock valued at $1,149,000 after buying an additional 109 shares during the period. Tyche Wealth Partners LLC increased its holdings in Southern Copper by 0.6% during the third quarter. Tyche Wealth Partners LLC now owns 19,685 shares of the basic materials company’s stock valued at $2,277,000 after buying an additional 109 shares during the last quarter. Greenwood Capital Associates LLC raised its position in Southern Copper by 0.7% in the third quarter. Greenwood Capital Associates LLC now owns 15,722 shares of the basic materials company’s stock worth $1,819,000 after acquiring an additional 112 shares during the period. Finally, Inspire Advisors LLC boosted its stake in shares of Southern Copper by 3.9% during the 3rd quarter. Inspire Advisors LLC now owns 3,001 shares of the basic materials company’s stock worth $347,000 after acquiring an additional 113 shares during the last quarter. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Southern Copper Trading Down 1.7 %

Shares of SCCO opened at $100.99 on Thursday. The firm has a market cap of $79.33 billion, a P/E ratio of 26.00, a price-to-earnings-growth ratio of 1.06 and a beta of 1.18. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.77 and a quick ratio of 2.31. Southern Copper Co. has a 1 year low of $70.63 and a 1 year high of $129.79. The company has a 50 day simple moving average of $109.45 and a two-hundred day simple moving average of $109.84.

Southern Copper Announces Dividend

The business also recently announced a — dividend, which will be paid on Thursday, November 21st. Investors of record on Wednesday, November 6th will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a yield of 2.1%. Southern Copper’s payout ratio is 72.09%.

Wall Street Analysts Forecast Growth

SCCO has been the topic of a number of recent research reports. Scotiabank decreased their target price on Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating on the stock in a report on Tuesday, October 15th. Citigroup raised their price objective on Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a research note on Wednesday, October 2nd. Finally, Morgan Stanley boosted their price objective on Southern Copper from $97.00 to $100.00 and gave the company an “underweight” rating in a research note on Thursday, September 19th. Six analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $90.63.

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.