M&T Bank Corp Raises Holdings in Southern Copper Co. (NYSE:SCCO)

M&T Bank Corp lifted its stake in Southern Copper Co. (NYSE:SCCO) by 0.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 20,460 shares of the basic materials company’s stock after purchasing an additional 105 shares during the quarter. M&T Bank Corp’s holdings in Southern Copper were worth $2,367,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of SCCO. Fisher Asset Management LLC lifted its holdings in shares of Southern Copper by 10.6% during the third quarter. Fisher Asset Management LLC now owns 2,963,572 shares of the basic materials company’s stock worth $342,796,000 after purchasing an additional 283,562 shares during the period. State Street Corp lifted its position in Southern Copper by 1.0% during the third quarter. State Street Corp now owns 2,728,802 shares of the basic materials company’s stock valued at $315,641,000 after purchasing an additional 27,358 shares during the period. Empower Advisory Group LLC grew its position in Southern Copper by 3.3% during the 3rd quarter. Empower Advisory Group LLC now owns 1,004,060 shares of the basic materials company’s stock worth $116,140,000 after purchasing an additional 32,314 shares during the period. Marathon Asset Management Ltd raised its stake in shares of Southern Copper by 2.9% during the 3rd quarter. Marathon Asset Management Ltd now owns 788,672 shares of the basic materials company’s stock valued at $91,226,000 after buying an additional 22,437 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Southern Copper by 0.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 630,579 shares of the basic materials company’s stock worth $67,939,000 after buying an additional 4,580 shares during the last quarter. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on SCCO shares. Citigroup upped their price objective on Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a research report on Wednesday, October 2nd. Scotiabank decreased 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 Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price target for the company in a research note on Monday, December 2nd. Finally, Morgan Stanley upgraded Southern Copper from an “underweight” rating to an “equal weight” rating and lowered their price target for the stock from $106.30 to $102.00 in a research report on Thursday. Four research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $94.81.

Southern Copper Trading Down 1.5 %

Shares of SCCO stock opened at $100.00 on Friday. Southern Copper Co. has a fifty-two week low of $77.14 and a fifty-two week high of $129.79. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.77. The stock’s fifty day moving average is $107.35 and its two-hundred day moving average is $107.11. The firm has a market capitalization of $78.55 billion, a P/E ratio of 25.77, a PEG ratio of 1.61 and a beta of 1.14.

Southern Copper Announces Dividend

The firm also recently declared a — dividend, which was paid on Thursday, November 21st. Investors of record on Wednesday, November 6th were given a dividend of $0.62 per share. The ex-dividend date was Wednesday, November 6th. This represents a yield of 2.1%. Southern Copper’s payout ratio is presently 72.16%.

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.