Southern Copper Co. (NYSE:SCCO) Shares Sold by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd reduced its position in Southern Copper Co. (NYSE:SCCO) by 79.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,880 shares of the basic materials company’s stock after selling 23,355 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Southern Copper were worth $680,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. grew its position in Southern Copper by 7.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 230,495 shares of the basic materials company’s stock valued at $26,661,000 after acquiring an additional 15,386 shares during the period. Morse Asset Management Inc purchased a new stake in Southern Copper during the third quarter valued at about $1,397,000. Gateway Advisory LLC purchased a new stake in Southern Copper during the second quarter valued at about $625,000. BNP Paribas Financial Markets grew its position in Southern Copper by 1,601.3% during the third quarter. BNP Paribas Financial Markets now owns 192,571 shares of the basic materials company’s stock valued at $22,275,000 after acquiring an additional 181,252 shares during the period. Finally, Two Sigma Advisers LP lifted its stake in shares of Southern Copper by 384.4% during the third quarter. Two Sigma Advisers LP now owns 90,173 shares of the basic materials company’s stock worth $10,430,000 after purchasing an additional 71,558 shares in the last quarter. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Southern Copper Trading Down 1.5 %

NYSE:SCCO opened at $100.00 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.77. Southern Copper Co. has a one year low of $77.14 and a one year high of $129.79. The business’s 50-day simple moving average is $107.35 and its 200 day simple moving average is $107.01. The stock has a market cap of $78.55 billion, a price-to-earnings ratio of 25.77, a price-to-earnings-growth ratio of 1.61 and a beta of 1.14.

Southern Copper Dividend Announcement

The firm also recently declared a — dividend, which was paid on Thursday, November 21st. Investors 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 72.16%.

Wall Street Analyst Weigh In

A number of research analysts have commented on SCCO shares. Scotiabank reduced their price objective on Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating on the stock in a research note on Tuesday, October 15th. JPMorgan Chase & Co. upgraded Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price objective on the stock in a research note on Monday, December 2nd. Citigroup boosted their price objective on Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a research note on Wednesday, October 2nd. Finally, Morgan Stanley upgraded Southern Copper from an “underweight” rating to an “equal weight” rating and reduced their price objective for the stock from $106.30 to $102.00 in a research note on Thursday. Four analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Southern Copper currently has an average rating of “Hold” and a consensus target price of $94.81.

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.