Barclays PLC lowered its stake in Southern Copper Co. (NYSE:SCCO – Free Report) by 21.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 48,101 shares of the basic materials company’s stock after selling 13,214 shares during the quarter. Barclays PLC’s holdings in Southern Copper were worth $5,563,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in SCCO. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Southern Copper by 7.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 230,495 shares of the basic materials company’s stock worth $26,661,000 after purchasing an additional 15,386 shares in the last quarter. Morse Asset Management Inc acquired a new position in Southern Copper during the 3rd quarter worth approximately $1,397,000. Two Sigma Advisers LP lifted its position in shares of Southern Copper by 384.4% in the third quarter. Two Sigma Advisers LP now owns 90,173 shares of the basic materials company’s stock worth $10,430,000 after purchasing an additional 71,558 shares in the last quarter. Gateway Advisory LLC acquired a new stake in Southern Copper in the 2nd quarter valued at $625,000. Finally, BNP Paribas Financial Markets grew its holdings in shares of Southern Copper by 1,601.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 192,571 shares of the basic materials company’s stock valued at $22,275,000 after acquiring an additional 181,252 shares in the last quarter. 7.94% of the stock is currently owned by institutional investors and hedge funds.
Southern Copper Trading Up 1.1 %
Shares of SCCO stock opened at $93.01 on Friday. Southern Copper Co. has a 12-month low of $77.14 and a 12-month high of $129.79. The firm has a 50 day moving average price of $105.20 and a two-hundred day moving average price of $106.26. The company has a quick ratio of 2.31, a current ratio of 2.77 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $73.06 billion, a PE ratio of 23.95, a price-to-earnings-growth ratio of 1.56 and a beta of 1.14.
Southern Copper Announces Dividend
Wall Street Analyst Weigh In
Several analysts recently issued reports on SCCO shares. Scotiabank dropped their target price on Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating on the stock in a report on Tuesday, October 15th. Morgan Stanley raised shares of Southern Copper from an “underweight” rating to an “equal weight” rating and decreased their price objective for the company from $106.30 to $102.00 in a research report on Thursday, December 12th. Citigroup raised 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. Finally, JPMorgan Chase & Co. raised Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price target on the stock in a research report on Monday, December 2nd. Four research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $94.81.
View Our Latest Stock Analysis on Southern Copper
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.
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