Sumitomo Mitsui Trust Group Inc. Decreases Stock Position in Southern Copper Co. (NYSE:SCCO)

Sumitomo Mitsui Trust Group Inc. decreased its position in shares of Southern Copper Co. (NYSE:SCCO) by 0.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 225,107 shares of the basic materials company’s stock after selling 739 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Southern Copper were worth $26,038,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Sei Investments Co. raised its position in shares of Southern Copper by 6.1% in the 1st quarter. Sei Investments Co. now owns 67,123 shares of the basic materials company’s stock valued at $7,150,000 after purchasing an additional 3,833 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Southern Copper by 20.0% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 59,904 shares of the basic materials company’s stock valued at $6,381,000 after acquiring an additional 10,000 shares during the last quarter. TIAA Trust National Association bought a new position in Southern Copper during the 1st quarter valued at $226,000. Edgestream Partners L.P. grew its holdings in Southern Copper by 68.2% during the 1st quarter. Edgestream Partners L.P. now owns 15,206 shares of the basic materials company’s stock worth $1,620,000 after acquiring an additional 6,164 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC raised its stake in shares of Southern Copper by 34.5% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 8,228 shares of the basic materials company’s stock valued at $876,000 after purchasing an additional 2,111 shares in the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SCCO. Citigroup lifted their price target on Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a research note on Wednesday, October 2nd. Morgan Stanley lifted their target price on Southern Copper from $97.00 to $100.00 and gave the stock an “underweight” rating in a research report on Thursday, September 19th. Finally, Scotiabank dropped their price target on Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating on the stock in a research report on Tuesday, October 15th. Six analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $90.63.

Southern Copper Trading Down 1.0 %

NYSE:SCCO opened at $99.24 on Friday. The firm has a market capitalization of $77.96 billion, a P/E ratio of 25.54, a P/E/G ratio of 1.04 and a beta of 1.18. The business has a 50 day simple moving average of $109.72 and a 200 day simple moving average of $109.56. 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 12-month low of $70.63 and a 12-month high of $129.79.

Southern Copper Dividend Announcement

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

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.