Cypress Capital Management LLC WY Sells 1,068 Shares of Southern Copper Co. (NYSE:SCCO)

Cypress Capital Management LLC WY cut its position in shares of Southern Copper Co. (NYSE:SCCO) by 8.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,221 shares of the basic materials company’s stock after selling 1,068 shares during the quarter. Southern Copper comprises about 1.3% of Cypress Capital Management LLC WY’s holdings, making the stock its 22nd largest position. Cypress Capital Management LLC WY’s holdings in Southern Copper were worth $1,114,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. lifted its position in shares of Southern Copper by 74.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,402,983 shares of the basic materials company’s stock valued at $162,283,000 after acquiring an additional 599,610 shares during the period. Itau Unibanco Holding S.A. raised its holdings in shares of Southern Copper by 115,910.7% during the third quarter. Itau Unibanco Holding S.A. now owns 336,431 shares of the basic materials company’s stock valued at $38,915,000 after purchasing an additional 336,141 shares during the period. Fisher Asset Management LLC boosted its position in shares of Southern Copper by 10.6% during the 3rd 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 in the last quarter. International Assets Investment Management LLC increased its position in Southern Copper by 11,510.5% in the 3rd quarter. International Assets Investment Management LLC now owns 189,716 shares of the basic materials company’s stock valued at $21,944,000 after buying an additional 188,082 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its stake in Southern Copper by 1,601.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 192,571 shares of the basic materials company’s stock worth $22,275,000 after buying an additional 181,252 shares during the period. Institutional investors and hedge funds own 7.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Scotiabank cut 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 dropped their price objective for the company from $106.30 to $102.00 in a research note on Thursday, December 12th. Finally, 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 report on Monday, December 2nd. Four research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Southern Copper has an average rating of “Hold” and a consensus price target of $94.81.

Southern Copper Stock Up 1.3 %

SCCO opened at $92.54 on Friday. Southern Copper Co. has a fifty-two week low of $77.42 and a fifty-two week high of $129.79. The firm has a market capitalization of $72.69 billion, a P/E ratio of 23.82, a PEG ratio of 1.79 and a beta of 1.14. The company’s 50-day moving average is $96.72 and its 200 day moving average is $103.04. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.77 and a quick ratio of 2.31.

Southern Copper Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Tuesday, February 11th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $2.80 annualized dividend and a dividend yield of 3.03%. This is a boost from Southern Copper’s previous quarterly dividend of $0.60. Southern Copper’s dividend payout ratio (DPR) is currently 72.09%.

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.