Itau Unibanco Holding S.A. Has $38.92 Million Stock Holdings in Southern Copper Co. (NYSE:SCCO)

Itau Unibanco Holding S.A. grew its holdings in Southern Copper Co. (NYSE:SCCO) by 115,910.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 336,431 shares of the basic materials company’s stock after buying an additional 336,141 shares during the quarter. Southern Copper accounts for approximately 1.3% of Itau Unibanco Holding S.A.’s holdings, making the stock its 23rd biggest holding. Itau Unibanco Holding S.A.’s holdings in Southern Copper were worth $38,915,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Centiva Capital LP increased its position in shares of Southern Copper by 2.7% during the 3rd quarter. Centiva Capital LP now owns 16,644 shares of the basic materials company’s stock worth $1,925,000 after purchasing an additional 431 shares in the last quarter. Beacon Investment Advisory Services Inc. increased its position in shares of Southern Copper by 5.4% during the 3rd quarter. Beacon Investment Advisory Services Inc. now owns 49,404 shares of the basic materials company’s stock worth $5,715,000 after purchasing an additional 2,518 shares in the last quarter. Beck Capital Management LLC acquired a new stake in shares of Southern Copper during the 3rd quarter worth about $1,391,000. Benjamin Edwards Inc. increased its position in shares of Southern Copper by 2,816.0% during the 3rd quarter. Benjamin Edwards Inc. now owns 5,103 shares of the basic materials company’s stock worth $590,000 after purchasing an additional 4,928 shares in the last quarter. Finally, Erste Asset Management GmbH acquired a new stake in shares of Southern Copper during the 3rd quarter worth about $459,000. Institutional investors and hedge funds own 7.94% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SCCO. Citigroup increased their target price on shares of Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a research report on Wednesday, October 2nd. Scotiabank lowered 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 report on Tuesday, October 15th. JPMorgan Chase & Co. upgraded shares of Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price objective for the company in a research report on Monday. Finally, Morgan Stanley raised their price objective on shares of Southern Copper from $97.00 to $100.00 and gave the company an “underweight” rating in a research report on Thursday, September 19th. Five research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $94.56.

Southern Copper Stock Down 0.3 %

Shares of NYSE SCCO opened at $100.05 on Tuesday. The firm has a market capitalization of $78.59 billion, a PE ratio of 25.76, a price-to-earnings-growth ratio of 1.55 and a beta of 1.14. 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 Co. has a 1 year low of $70.92 and a 1 year high of $129.79. The firm’s 50-day moving average is $110.08 and its 200-day moving average is $108.28.

Southern Copper Dividend Announcement

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

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.