Citigroup Inc. Boosts Stock Position in Southern Copper Co. (NYSE:SCCO)

Citigroup Inc. lifted its holdings in shares of Southern Copper Co. (NYSE:SCCO) by 3.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 199,978 shares of the basic materials company’s stock after purchasing an additional 6,436 shares during the quarter. Citigroup Inc.’s holdings in Southern Copper were worth $23,131,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV boosted its stake in shares of 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 valued at $26,000 after buying an additional 141 shares during the period. McClarren Financial Advisors Inc. raised its holdings in Southern Copper by 169.2% in the third quarter. McClarren Financial Advisors Inc. now owns 288 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 181 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new position in Southern Copper in the second quarter worth approximately $31,000. Oakworth Capital Inc. acquired a new position in Southern Copper during the 3rd quarter worth approximately $42,000. Finally, Prospera Private Wealth LLC acquired a new position in Southern Copper during the 3rd quarter worth approximately $47,000. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SCCO has been the subject of several recent analyst reports. Morgan Stanley lifted their price objective on shares of Southern Copper from $97.00 to $100.00 and gave the stock an “underweight” rating in a research report on Thursday, September 19th. Scotiabank decreased their price target 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, Citigroup increased their price objective on Southern Copper from $99.44 to $100.00 and gave the company a “sell” rating in a 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. Based on data from MarketBeat, Southern Copper presently has an average rating of “Hold” and an average target price of $90.63.

Southern Copper Stock Down 3.4 %

Southern Copper stock opened at $98.54 on Wednesday. The stock has a 50-day simple moving average of $110.28 and a 200-day simple moving average of $108.76. The company has a market capitalization of $77.41 billion, a P/E ratio of 25.37, a PEG ratio of 1.03 and a beta of 1.18. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.77. Southern Copper Co. has a fifty-two week low of $70.63 and a fifty-two week high of $129.79.

Southern Copper Dividend Announcement

The firm also recently announced a — dividend, which was paid on Thursday, November 21st. Stockholders of record on Wednesday, November 6th were given a dividend of $0.62 per share. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a dividend yield of 2.1%. Southern Copper’s dividend payout ratio (DPR) is presently 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.