Prudential Financial Inc. cut its stake in Southern Copper Corporation (NYSE:SCCO) by 13.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,060,889 shares of the basic materials company’s stock after selling 163,000 shares during the period. Prudential Financial Inc. owned about 0.14% of Southern Copper Corporation worth $42,180,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Bessemer Group Inc. grew its position in Southern Copper Corporation by 114.5% in the second quarter. Bessemer Group Inc. now owns 3,692 shares of the basic materials company’s stock worth $128,000 after acquiring an additional 1,971 shares in the last quarter. SG Americas Securities LLC purchased a new position in Southern Copper Corporation in the second quarter worth $134,000. Sit Investment Associates Inc. boosted its position in Southern Copper Corporation by 68.8% during the second quarter. Sit Investment Associates Inc. now owns 5,400 shares of the basic materials company’s stock valued at $187,000 after buying an additional 2,200 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Southern Copper Corporation by 3.6% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,820 shares of the basic materials company’s stock valued at $202,000 after buying an additional 200 shares during the period. Finally, HighTower Advisors LLC purchased a new stake in Southern Copper Corporation during the first quarter valued at about $221,000. Institutional investors own 6.04% of the company’s stock.
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Southern Copper Corporation (NYSE SCCO) opened at $43.91 on Friday. The company has a market cap of $33,943.61, a PE ratio of 34.30, a PEG ratio of 0.70 and a beta of 0.63. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.08 and a current ratio of 3.01. Southern Copper Corporation has a one year low of $31.15 and a one year high of $44.69.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Wednesday, November 8th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.28%. This is an increase from Southern Copper Corporation’s previous quarterly dividend of $0.14. The ex-dividend date is Tuesday, November 7th. Southern Copper Corporation’s dividend payout ratio is 78.13%.
Several analysts have issued reports on SCCO shares. B. Riley restated a “buy” rating on shares of Southern Copper Corporation in a research report on Wednesday, November 1st. BidaskClub lowered shares of Southern Copper Corporation from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 28th. FBR & Co restated a “buy” rating on shares of Southern Copper Corporation in a research report on Monday, October 23rd. HSBC Holdings plc lowered shares of Southern Copper Corporation from a “buy” rating to a “hold” rating and set a $41.00 price target for the company. in a research report on Wednesday, August 16th. Finally, Cowen and Company restated a “hold” rating and set a $39.00 price target on shares of Southern Copper Corporation in a research report on Wednesday, July 19th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. Southern Copper Corporation presently has a consensus rating of “Hold” and an average target price of $38.88.
Southern Copper Corporation Company Profile
Southern Copper Corporation is an integrated copper producer. It produces copper and, in the production process, obtains several by-products, including molybdenum, silver, zinc, sulfuric acid and other metals. Its segments include the Peruvian operations, the Mexican open-pit operations and the Mexican underground mining operations segment identified as the IMMSA unit.
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