Headlands Technologies LLC acquired a new position in Southern Copper Co. (NYSE:SCCO – Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 1,299 shares of the basic materials company’s stock, valued at approximately $98,000.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Southern Copper by 8.1% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 100,442 shares of the basic materials company’s stock valued at $7,562,000 after purchasing an additional 7,526 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of Southern Copper by 1.1% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 51,588 shares of the basic materials company’s stock valued at $3,884,000 after purchasing an additional 554 shares during the period. Canada Pension Plan Investment Board lifted its stake in shares of Southern Copper by 677.0% in the 3rd quarter. Canada Pension Plan Investment Board now owns 310,500 shares of the basic materials company’s stock valued at $23,378,000 after purchasing an additional 270,540 shares during the period. HighTower Advisors LLC lifted its stake in shares of Southern Copper by 7.8% in the 3rd quarter. HighTower Advisors LLC now owns 34,825 shares of the basic materials company’s stock valued at $2,619,000 after purchasing an additional 2,533 shares during the period. Finally, Vanguard Personalized Indexing Management LLC lifted its stake in shares of Southern Copper by 2.9% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 22,176 shares of the basic materials company’s stock valued at $1,670,000 after purchasing an additional 623 shares during the period. Institutional investors own 7.40% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms recently commented on SCCO. Morgan Stanley cut shares of Southern Copper from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $83.00 to $68.00 in a research report on Monday, November 27th. StockNews.com cut shares of 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 assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $64.50.
Southern Copper Price Performance
SCCO stock opened at $80.16 on Monday. The stock has a 50-day moving average price of $81.81 and a two-hundred day moving average price of $78.34. The stock has a market cap of $61.97 billion, a PE ratio of 25.53 and a beta of 1.29. The company has a current ratio of 3.70, a quick ratio of 2.94 and a debt-to-equity ratio of 0.80. Southern Copper Co. has a 1 year low of $64.66 and a 1 year high of $88.40.
Southern Copper Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 29th. Shareholders of record on Tuesday, February 13th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 3.99%. The ex-dividend date is Monday, February 12th. Southern Copper’s dividend payout ratio (DPR) is presently 127.39%.
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.
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