Southern Copper Co. (NYSE:SCCO) Stock Position Increased by Nordea Investment Management AB

Nordea Investment Management AB boosted its position in shares of Southern Copper Co. (NYSE:SCCO) by 15.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 108,753 shares of the basic materials company’s stock after buying an additional 14,391 shares during the quarter. Nordea Investment Management AB’s holdings in Southern Copper were worth $9,969,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Commonwealth Equity Services LLC raised its position in Southern Copper by 5.9% during the second quarter. Commonwealth Equity Services LLC now owns 23,643 shares of the basic materials company’s stock valued at $2,547,000 after buying an additional 1,308 shares during the period. Private Advisor Group LLC boosted its stake in shares of Southern Copper by 18.7% during the 2nd quarter. Private Advisor Group LLC now owns 9,540 shares of the basic materials company’s stock valued at $1,028,000 after buying an additional 1,505 shares during the period. Acadian Asset Management LLC acquired a new position in shares of Southern Copper in the second quarter worth $1,526,000. Ballentine Partners LLC raised its holdings in shares of Southern Copper by 5.5% during the second quarter. Ballentine Partners LLC now owns 3,192 shares of the basic materials company’s stock worth $344,000 after acquiring an additional 167 shares in the last quarter. Finally, Quest Partners LLC increased its position in Southern Copper by 34,083.3% in the 2nd quarter. Quest Partners LLC now owns 4,102 shares of the basic materials company’s stock worth $442,000 after purchasing an additional 4,090 shares during the last quarter. 7.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Citigroup increased their price objective on Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a report on Wednesday, October 2nd. Morgan Stanley upgraded shares of Southern Copper from an “underweight” rating to an “equal weight” rating and decreased their price objective for the stock from $106.30 to $102.00 in a report on Thursday, December 12th. JPMorgan Chase & Co. raised Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price target for the company in a research report on Monday, December 2nd. Finally, Scotiabank lowered their target price on shares of Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating on the stock in a research note on Tuesday, October 15th. Four investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $94.81.

Southern Copper Stock Performance

NYSE SCCO opened at $95.51 on Friday. The company’s fifty day moving average is $99.56 and its two-hundred day moving average is $104.75. Southern Copper Co. has a 52-week low of $77.14 and a 52-week high of $129.79. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.77 and a quick ratio of 2.31. The firm has a market capitalization of $75.03 billion, a price-to-earnings ratio of 24.59, a P/E/G ratio of 1.56 and a beta of 1.14.

Southern Copper Announces Dividend

The company also recently declared a — dividend, which was paid on Thursday, November 21st. Shareholders of record on Wednesday, November 6th were issued a $0.62 dividend. The ex-dividend date was Wednesday, November 6th. This represents a yield of 2.1%. Southern Copper’s dividend payout ratio (DPR) is 72.16%.

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.