Barclays PLC Raises Holdings in Southern Copper Co. (NYSE:SCCO)

Barclays PLC increased its holdings in Southern Copper Co. (NYSE:SCCOFree Report) by 73.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 55,963 shares of the basic materials company’s stock after acquiring an additional 23,717 shares during the period. Barclays PLC’s holdings in Southern Copper were worth $4,214,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Hartford Financial Management Inc. purchased a new position in Southern Copper in the third quarter worth approximately $25,000. Loomis Sayles & Co. L P purchased a new position in Southern Copper in the first quarter worth approximately $29,000. Sanctuary Wealth Management L.L.C. purchased a new position in Southern Copper in the fourth quarter worth approximately $27,000. Ronald Blue Trust Inc. grew its position in Southern Copper by 43.7% in the third quarter. Ronald Blue Trust Inc. now owns 602 shares of the basic materials company’s stock worth $44,000 after acquiring an additional 183 shares during the period. Finally, Penserra Capital Management LLC purchased a new position in Southern Copper in the first quarter worth approximately $46,000. 7.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Morgan Stanley lowered Southern Copper from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $83.00 to $68.00 in a research report on Monday, November 27th. StockNews.com lowered Southern Copper from a “buy” rating to a “hold” rating in a research report on Monday, February 5th. Four analysts have rated the stock with a sell rating and three have issued a hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $64.50.

Get Our Latest Research Report on SCCO

Southern Copper Trading Down 1.0 %

SCCO opened at $80.16 on Friday. Southern Copper Co. has a 52 week low of $64.66 and a 52 week high of $88.40. The business has a fifty day simple moving average of $81.81 and a 200-day simple moving average of $78.38. The firm has a market cap of $61.97 billion, a P/E ratio of 21.49 and a beta of 1.29. The company has a quick ratio of 2.94, a current ratio of 3.70 and a debt-to-equity ratio of 0.80.

Southern Copper Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 29th. Stockholders of record on Tuesday, February 13th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, February 12th. This represents a $3.20 annualized dividend and a dividend yield of 3.99%. Southern Copper’s dividend payout ratio is currently 107.24%.

Southern Copper Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Southern Copper (NYSE:SCCO)

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