Fmr LLC Has $1.88 Million Stock Position in Southern Copper Co. (NYSE:SCCO)

Fmr LLC lessened its holdings in shares of Southern Copper Co. (NYSE:SCCO) by 69.2% during the third quarter, Holdings Channel.com reports. The firm owned 16,212 shares of the basic materials company’s stock after selling 36,438 shares during the quarter. Fmr LLC’s holdings in Southern Copper were worth $1,875,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Creative Financial Designs Inc. ADV raised its stake in Southern Copper by 172.0% during the third 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. bought a new position in Southern Copper during the second quarter worth $31,000. McClarren Financial Advisors Inc. raised its stake in Southern Copper by 169.2% during the third quarter. McClarren Financial Advisors Inc. now owns 288 shares of the basic materials company’s stock worth $33,000 after buying an additional 181 shares during the last quarter. Oakworth Capital Inc. bought a new position in Southern Copper during the third quarter worth $42,000. Finally, Prospera Private Wealth LLC bought a new position in Southern Copper during the third quarter worth $47,000. Institutional investors and hedge funds own 7.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. raised shares of Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 target price for the company in a research note on Monday, December 2nd. Scotiabank decreased their price target on shares of Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating for the company in a research note on Tuesday, October 15th. Morgan Stanley raised shares of Southern Copper from an “underweight” rating to an “equal weight” rating and decreased their price target for the company from $106.30 to $102.00 in a research note on Thursday. Finally, Citigroup lifted their price target on shares of Southern Copper from $99.44 to $100.00 and gave the company a “sell” rating in a research note on Wednesday, October 2nd. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $94.81.

Southern Copper Price Performance

Shares of Southern Copper stock opened at $100.00 on Monday. The firm has a market cap of $78.55 billion, a PE ratio of 25.75, a price-to-earnings-growth ratio of 1.56 and a beta of 1.14. Southern Copper Co. has a 12-month low of $77.14 and a 12-month high of $129.79. The company has a quick ratio of 2.31, a current ratio of 2.77 and a debt-to-equity ratio of 0.64. The company’s fifty day simple moving average is $107.35 and its two-hundred day simple moving average is $106.92.

Southern Copper Dividend Announcement

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