BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Lowers Stock Holdings in Southern Copper Co. (NYSE:SCCO)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its stake in Southern Copper Co. (NYSE:SCCO) by 0.6% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 33,837 shares of the basic materials company’s stock after selling 211 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Southern Copper were worth $3,914,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Creative Financial Designs Inc. ADV raised its stake in shares of 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 worth $26,000 after purchasing an additional 141 shares during the last quarter. McClarren Financial Advisors Inc. increased its holdings in Southern Copper by 169.2% in the 3rd 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 in the last quarter. Itau Unibanco Holding S.A. purchased a new position in Southern Copper in the 2nd quarter worth about $31,000. Oakworth Capital Inc. bought a new position in Southern Copper during the 3rd quarter valued at about $42,000. Finally, Larson Financial Group LLC boosted its holdings in shares of Southern Copper by 578.3% during the 3rd quarter. Larson Financial Group LLC now owns 407 shares of the basic materials company’s stock valued at $47,000 after acquiring an additional 347 shares during the last quarter. Institutional investors own 7.94% of the company’s stock.

Southern Copper Stock Up 1.3 %

SCCO stock opened at $101.33 on Wednesday. The business’s 50-day moving average price is $109.72 and its 200-day moving average price is $107.97. The stock has a market cap of $79.59 billion, a P/E ratio of 26.09, a PEG ratio of 1.55 and a beta of 1.14. Southern Copper Co. has a twelve month low of $70.92 and a twelve month high of $129.79. The company has a quick ratio of 2.31, a current ratio of 2.77 and a debt-to-equity ratio of 0.64.

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 $0.62 dividend. The ex-dividend date was Wednesday, November 6th. This represents a dividend yield of 2.1%. Southern Copper’s payout ratio is currently 72.09%.

Analyst Ratings Changes

A number of brokerages recently weighed in on SCCO. Scotiabank lowered their price objective 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. Morgan Stanley increased their price target on Southern Copper from $97.00 to $100.00 and gave the company an “underweight” rating in a report on Thursday, September 19th. Citigroup lifted 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. Finally, JPMorgan Chase & Co. raised Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 target price on the stock in a report on Monday. 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 stock. According to data from MarketBeat, Southern Copper currently has an average rating of “Hold” and an average price target of $94.56.

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.