Swiss National Bank Sells 9,650 Shares of Southern Copper Co. (NYSE:SCCO)

Swiss National Bank reduced its position in shares of Southern Copper Co. (NYSE:SCCO) by 4.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 196,051 shares of the basic materials company’s stock after selling 9,650 shares during the quarter. Swiss National Bank’s holdings in Southern Copper were worth $22,677,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. O Shaughnessy Asset Management LLC raised its holdings in Southern Copper by 34.5% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 8,228 shares of the basic materials company’s stock worth $876,000 after purchasing an additional 2,111 shares during the period. Natixis lifted its position in shares of Southern Copper by 82.6% during the 1st quarter. Natixis now owns 8,000 shares of the basic materials company’s stock valued at $852,000 after buying an additional 3,619 shares in the last quarter. Toronto Dominion Bank grew its stake in shares of Southern Copper by 15.2% during the 1st quarter. Toronto Dominion Bank now owns 5,145 shares of the basic materials company’s stock valued at $542,000 after acquiring an additional 679 shares during the period. Capital World Investors purchased a new stake in Southern Copper in the 1st quarter worth approximately $340,373,000. Finally, Lazard Asset Management LLC raised its stake in 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 acquiring an additional 125,496 shares during the period. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Southern Copper Price Performance

Shares of Southern Copper stock opened at $100.70 on Friday. The firm has a market cap of $79.11 billion, a PE ratio of 25.93, a PEG ratio of 1.07 and a beta of 1.18. Southern Copper Co. has a 12 month low of $70.63 and a 12 month high of $129.79. The stock has a 50 day moving average of $110.22 and a 200 day moving average of $109.21. The company has a current ratio of 2.77, a quick ratio of 2.31 and a debt-to-equity ratio of 0.64.

Southern Copper Announces Dividend

The firm also recently disclosed a — dividend, which was paid on Thursday, November 21st. Shareholders of record on Wednesday, November 6th were given 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 (DPR) is currently 72.09%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on SCCO shares. 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. Citigroup increased their price target on Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a research note on Wednesday, October 2nd. Finally, Morgan Stanley boosted their price objective on Southern Copper from $97.00 to $100.00 and gave the company an “underweight” rating in a research report on Thursday, September 19th. Six equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $90.63.

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.