Southern Copper Co. (NYSE:SCCO) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC reduced its position in Southern Copper Co. (NYSE:SCCO) by 34.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,282 shares of the basic materials company’s stock after selling 12,736 shares during the period. Nisa Investment Advisors LLC’s holdings in Southern Copper were worth $2,809,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of SCCO. Capital World Investors acquired a new position in Southern Copper during the first quarter valued at approximately $340,373,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Southern Copper by 18.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,771,332 shares of the basic materials company’s stock valued at $827,804,000 after acquiring an additional 1,192,111 shares in the last quarter. Los Angeles Capital Management LLC boosted its position in Southern Copper by 1,300.4% during the 2nd quarter. Los Angeles Capital Management LLC now owns 443,285 shares of the basic materials company’s stock worth $47,760,000 after purchasing an additional 411,630 shares during the period. Lord Abbett & CO. LLC acquired a new stake in Southern Copper in the 1st quarter valued at $27,163,000. Finally, International Assets Investment Management LLC raised its position in Southern Copper by 11,510.5% in the third quarter. International Assets Investment Management LLC now owns 189,716 shares of the basic materials company’s stock valued at $21,944,000 after purchasing an additional 188,082 shares during the period. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SCCO. Morgan Stanley upped 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. 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. UBS Group initiated coverage on shares of Southern Copper in a research note on Friday, July 12th. They set a “neutral” rating and a $120.00 price objective on the stock. Finally, Citigroup upped their target price 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. Six analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $90.63.

Southern Copper Stock Up 0.5 %

SCCO stock opened at $110.10 on Friday. The company has a current ratio of 2.81, a quick ratio of 2.27 and a debt-to-equity ratio of 0.67. The firm has a 50 day simple moving average of $108.45 and a 200-day simple moving average of $110.07. The company has a market capitalization of $86.01 billion, a P/E ratio of 28.35, a PEG ratio of 1.14 and a beta of 1.18. Southern Copper Co. has a twelve month low of $68.93 and a twelve month high of $129.79.

Southern Copper Announces Dividend

The business also recently disclosed a — dividend, which will be paid on Thursday, November 21st. Shareholders of record on Wednesday, November 6th will be issued a dividend of $0.62 per share. This represents a yield of 2.1%. The ex-dividend date is Wednesday, November 6th. Southern Copper’s dividend payout ratio is currently 61.79%.

Southern Copper 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.