Swiss National Bank Cuts Position in Southern Copper Co. (NYSE:SCCO)

Swiss National Bank decreased its position in shares of Southern Copper Co. (NYSE:SCCO) by 4.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 196,051 shares of the basic materials company’s stock after selling 9,650 shares during the period. Swiss National Bank’s holdings in Southern Copper were worth $22,677,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in SCCO. Creative Financial Designs Inc. ADV lifted its position in Southern Copper by 172.0% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 223 shares of the basic materials company’s stock worth $26,000 after buying an additional 141 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new position in shares of Southern Copper during the second quarter worth approximately $31,000. McClarren Financial Advisors Inc. lifted its holdings in shares of Southern Copper by 169.2% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 288 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 181 shares during the last quarter. Oakworth Capital Inc. purchased a new stake in shares of Southern Copper in the 3rd quarter valued at $42,000. Finally, Planning Capital Management Corp bought a new position in shares of Southern Copper during the 3rd quarter valued at $52,000. Institutional investors own 7.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on SCCO shares. Citigroup boosted their price target on shares of Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a research note on Wednesday, October 2nd. Scotiabank dropped their target price on Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating for the company in a report on Tuesday, October 15th. Finally, Morgan Stanley lifted their price target on Southern Copper from $97.00 to $100.00 and gave the stock 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 issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $90.63.

Southern Copper Trading Down 2.2 %

SCCO opened at $100.70 on Friday. The company has a quick ratio of 2.31, a current ratio of 2.77 and a debt-to-equity ratio of 0.64. Southern Copper Co. has a 52 week low of $70.63 and a 52 week high of $129.79. The stock has a market cap of $79.11 billion, a PE ratio of 25.93, a PEG ratio of 1.07 and a beta of 1.18. The business has a 50 day moving average of $110.22 and a 200-day moving average of $109.21.

Southern Copper Announces Dividend

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

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.