State Street Corp Buys 27,358 Shares of Southern Copper Co. (NYSE:SCCO)

State Street Corp lifted its stake in Southern Copper Co. (NYSE:SCCO) by 1.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,728,802 shares of the basic materials company’s stock after purchasing an additional 27,358 shares during the quarter. State Street Corp’s holdings in Southern Copper were worth $315,641,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Ensign Peak Advisors Inc lifted its stake in Southern Copper by 1.0% in the second quarter. Ensign Peak Advisors Inc now owns 10,558 shares of the basic materials company’s stock worth $1,138,000 after purchasing an additional 108 shares during the last quarter. Prudential PLC lifted its stake in shares of Southern Copper by 1.0% during the 2nd quarter. Prudential PLC now owns 10,667 shares of the basic materials company’s stock worth $1,149,000 after acquiring an additional 109 shares during the last quarter. Tyche Wealth Partners LLC boosted its holdings in Southern Copper by 0.6% during the 3rd quarter. Tyche Wealth Partners LLC now owns 19,685 shares of the basic materials company’s stock valued at $2,277,000 after acquiring an additional 109 shares during the period. Greenwood Capital Associates LLC grew its position in Southern Copper by 0.7% in the 3rd quarter. Greenwood Capital Associates LLC now owns 15,722 shares of the basic materials company’s stock valued at $1,819,000 after acquiring an additional 112 shares during the last quarter. Finally, Inspire Advisors LLC increased its stake in Southern Copper by 3.9% in the third quarter. Inspire Advisors LLC now owns 3,001 shares of the basic materials company’s stock worth $347,000 after purchasing an additional 113 shares during the period. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Southern Copper Trading Down 2.9 %

SCCO opened at $102.51 on Wednesday. The company has a current ratio of 2.77, a quick ratio of 2.31 and a debt-to-equity ratio of 0.64. The firm has a market cap of $80.53 billion, a price-to-earnings ratio of 26.42, a PEG ratio of 1.56 and a beta of 1.14. Southern Copper Co. has a 12 month low of $73.18 and a 12 month high of $129.79. The stock has a fifty day moving average price of $108.55 and a 200-day moving average price of $107.40.

Southern Copper Dividend Announcement

The company also recently declared 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. This represents a dividend yield of 2.1%. The ex-dividend date was Wednesday, November 6th. Southern Copper’s payout ratio is 72.16%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on SCCO shares. Morgan Stanley upped their price target on shares of Southern Copper from $97.00 to $100.00 and gave the stock an “underweight” rating in a report on Thursday, September 19th. Scotiabank reduced their target price on shares of Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating on the stock in a research report on Tuesday, October 15th. JPMorgan Chase & Co. upgraded Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price target for the company in a report on Monday, December 2nd. Finally, Citigroup raised their price objective on Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a report on Wednesday, October 2nd. Five research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $94.56.

Southern Copper Company 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.