PNC Financial Services Group Inc. Has $1.96 Million Stock Holdings in Southern Copper Co. (NYSE:SCCO)

PNC Financial Services Group Inc. raised its holdings in Southern Copper Co. (NYSE:SCCO) by 4.8% in the third quarter, Holdings Channel.com reports. The fund owned 16,955 shares of the basic materials company’s stock after acquiring an additional 778 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Southern Copper were worth $1,961,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV lifted its stake in Southern Copper by 172.0% in the third quarter. Creative Financial Designs Inc. ADV now owns 223 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 141 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new stake in shares of Southern Copper in the second quarter worth $31,000. McClarren Financial Advisors Inc. lifted its stake in shares of Southern Copper by 169.2% in 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. acquired a new stake in shares of Southern Copper in the third quarter worth $42,000. Finally, Planning Capital Management Corp acquired a new stake in shares of Southern Copper in the third quarter worth $52,000. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Southern Copper Trading Down 3.4 %

Shares of Southern Copper stock opened at $98.54 on Wednesday. The company’s fifty day moving average price is $110.28 and its two-hundred day moving average price is $108.76. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.77 and a quick ratio of 2.31. Southern Copper Co. has a 52-week low of $70.63 and a 52-week high of $129.79. The firm has a market capitalization of $77.41 billion, a PE ratio of 25.37, a price-to-earnings-growth ratio of 1.03 and a beta of 1.18.

Southern Copper Dividend Announcement

The company also recently announced a — dividend, which was paid on Thursday, November 21st. Stockholders of record on Wednesday, November 6th were issued a $0.62 dividend. This represents a dividend yield of 2.1%. The ex-dividend date was Wednesday, November 6th. Southern Copper’s payout ratio is 72.09%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SCCO. Scotiabank reduced their price objective 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 boosted their price objective on shares of Southern Copper from $97.00 to $100.00 and gave the stock an “underweight” rating in a research note on Thursday, September 19th. 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 given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $90.63.

About Southern Copper

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.