Natixis Advisors LLC Has $3.24 Million Stock Position in Southern Copper Co. (NYSE:SCCO)

Natixis Advisors LLC cut its stake in Southern Copper Co. (NYSE:SCCO) by 9.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,041 shares of the basic materials company’s stock after selling 2,911 shares during the period. Natixis Advisors LLC’s holdings in Southern Copper were worth $3,244,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of SCCO. O Shaughnessy Asset Management LLC raised its stake in Southern Copper by 34.5% during the first quarter. O Shaughnessy Asset Management LLC now owns 8,228 shares of the basic materials company’s stock worth $876,000 after acquiring an additional 2,111 shares in the last quarter. Toronto Dominion Bank grew its holdings in shares of Southern Copper by 15.2% in the 1st quarter. Toronto Dominion Bank now owns 5,145 shares of the basic materials company’s stock worth $542,000 after purchasing an additional 679 shares during the last quarter. Lazard Asset Management LLC increased its position in shares of Southern Copper by 421.6% during the 1st quarter. Lazard Asset Management LLC now owns 155,265 shares of the basic materials company’s stock worth $16,538,000 after purchasing an additional 125,496 shares in the last quarter. SVB Wealth LLC bought a new position in Southern Copper during the 1st quarter valued at about $282,000. Finally, Paloma Partners Management Co bought a new position in Southern Copper during the 1st quarter valued at about $1,113,000. Institutional investors own 7.94% of the company’s stock.

Analysts Set New Price Targets

SCCO has been the subject of several recent analyst reports. Citigroup raised their price objective on shares of Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a report on Wednesday, October 2nd. Morgan Stanley increased their price target on Southern Copper from $97.00 to $100.00 and gave the stock an “underweight” rating in a research report on Thursday, September 19th. Finally, Scotiabank cut their price objective on Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating for the company in a research report on Tuesday, October 15th. Six investment analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $90.63.

Southern Copper Stock Down 0.9 %

Shares of SCCO opened at $99.74 on Friday. The firm has a market capitalization of $78.35 billion, a price-to-earnings ratio of 25.68, a PEG ratio of 1.04 and a beta of 1.18. Southern Copper Co. has a 52 week low of $70.63 and a 52 week high of $129.79. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.77. The business’s fifty day moving average price is $110.24 and its two-hundred day moving average price is $109.04.

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 issued a dividend of $0.62 per share. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a yield of 2.1%. Southern Copper’s dividend payout ratio is currently 72.09%.

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.