State Board of Administration of Florida Retirement System Trims Holdings in Southern Copper Corporation (SCCO)

State Board of Administration of Florida Retirement System reduced its position in shares of Southern Copper Corporation (NYSE:SCCO) by 1.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 146,452 shares of the basic materials company’s stock after selling 1,670 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Southern Copper Corporation were worth $5,823,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SCCO. Swiss National Bank increased its holdings in shares of Southern Copper Corporation by 5.7% in the 2nd quarter. Swiss National Bank now owns 380,226 shares of the basic materials company’s stock valued at $13,167,000 after acquiring an additional 20,500 shares during the period. First Trust Advisors LP increased its holdings in shares of Southern Copper Corporation by 51.2% in the 2nd quarter. First Trust Advisors LP now owns 211,014 shares of the basic materials company’s stock valued at $7,307,000 after acquiring an additional 71,416 shares during the period. Commerzbank Aktiengesellschaft FI increased its holdings in shares of Southern Copper Corporation by 342.1% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 154,340 shares of the basic materials company’s stock valued at $5,345,000 after acquiring an additional 119,429 shares during the period. Tobam increased its holdings in shares of Southern Copper Corporation by 180.3% in the 2nd quarter. Tobam now owns 9,034 shares of the basic materials company’s stock valued at $313,000 after acquiring an additional 5,811 shares during the period. Finally, GAM Holding AG increased its holdings in shares of Southern Copper Corporation by 0.8% in the 2nd quarter. GAM Holding AG now owns 134,483 shares of the basic materials company’s stock valued at $4,657,000 after acquiring an additional 1,100 shares during the period. Institutional investors own 6.04% of the company’s stock.

Southern Copper Corporation (NYSE:SCCO) opened at $43.93 on Tuesday. Southern Copper Corporation has a one year low of $31.15 and a one year high of $44.69. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.00 and a current ratio of 3.01. The firm has a market capitalization of $33,943.66, a price-to-earnings ratio of 34.31, a P/E/G ratio of 0.70 and a beta of 0.63.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Investors 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 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 payout ratio is 78.13%.

A number of brokerages have recently issued reports on SCCO. Cowen and Company lifted their price target on Southern Copper Corporation from $39.00 to $48.00 and gave the company a “market perform” rating in a report on Friday, November 3rd. Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and issued a $40.00 price target on shares of Southern Copper Corporation in a report on Monday, October 23rd. Scotiabank downgraded Southern Copper Corporation from a “sector perform” rating to an “underperform” rating in a report on Monday, October 23rd. Zacks Investment Research upgraded Southern Copper Corporation from a “hold” rating to a “strong-buy” rating and set a $50.00 price target on the stock in a report on Saturday, October 28th. Finally, BidaskClub upgraded Southern Copper Corporation from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, October 17th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $38.88.

WARNING: “State Board of Administration of Florida Retirement System Trims Holdings in Southern Copper Corporation (SCCO)” was posted by Markets Daily and is the sole property of of Markets Daily. If you are accessing this news story on another site, it was illegally stolen and reposted in violation of United States and international trademark and copyright law. The legal version of this news story can be viewed at https://www.themarketsdaily.com/2017/11/14/state-board-of-administration-of-florida-retirement-system-trims-holdings-in-southern-copper-corporation-scco.html.

About Southern Copper Corporation

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.

Want to see what other hedge funds are holding SCCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Southern Copper Corporation (NYSE:SCCO).

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

Receive News & Ratings for Southern Copper Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southern Copper Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply