Jennison Associates LLC decreased its stake in shares of Southern Copper Corporation (NYSE:SCCO) by 5.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 883,029 shares of the basic materials company’s stock after selling 53,017 shares during the period. Jennison Associates LLC owned 0.11% of Southern Copper Corporation worth $35,109,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Bessemer Group Inc. increased its position in Southern Copper Corporation by 114.5% during the second quarter. Bessemer Group Inc. now owns 3,692 shares of the basic materials company’s stock worth $128,000 after buying an additional 1,971 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Southern Copper Corporation in the second quarter valued at $134,000. Sit Investment Associates Inc. grew its position in shares of Southern Copper Corporation by 68.8% in the second quarter. Sit Investment Associates Inc. now owns 5,400 shares of the basic materials company’s stock valued at $187,000 after purchasing an additional 2,200 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Southern Copper Corporation by 3.6% in 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 purchasing an additional 200 shares during the period. Finally, HighTower Advisors LLC purchased a new stake in shares of Southern Copper Corporation in the first quarter valued at $221,000. 6.04% of the stock is owned by institutional investors.
A number of equities research analysts have recently commented on SCCO shares. B. Riley reaffirmed a “buy” rating on shares of Southern Copper Corporation in a research report on Wednesday, November 1st. BidaskClub downgraded Southern Copper Corporation from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 28th. FBR & Co reaffirmed a “buy” rating on shares of Southern Copper Corporation in a research report on Monday, October 23rd. downgraded Southern Copper Corporation from a “buy” rating to a “hold” rating and set a $41.00 price objective for the company. in a research report on Wednesday, August 16th. Finally, Cowen and Company reaffirmed a “hold” rating and issued a $39.00 price objective on shares of Southern Copper Corporation in a research report on Wednesday, July 19th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. Southern Copper Corporation currently has a consensus rating of “Hold” and a consensus target price of $38.88.
Shares of Southern Copper Corporation (NYSE SCCO) traded down $1.03 during trading on Wednesday, reaching $42.90. The company had a trading volume of 660,300 shares, compared to its average volume of 931,616. Southern Copper Corporation has a 52-week low of $31.15 and a 52-week high of $44.69. The firm has a market capitalization of $33,959.12, a PE ratio of 34.32, a P/E/G ratio of 0.70 and a beta of 0.63. The company has a quick ratio of 2.00, a current ratio of 3.01 and a debt-to-equity ratio of 0.90.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Investors of record on Wednesday, November 8th will be issued a $0.25 dividend. The ex-dividend date is Tuesday, November 7th. This represents a $1.00 dividend on an annualized basis and a yield of 2.33%. This is a boost from Southern Copper Corporation’s previous quarterly dividend of $0.14. Southern Copper Corporation’s dividend payout ratio (DPR) is presently 78.13%.
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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