Southern Copper Corp (NYSE:SCCO) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

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Sumitomo Mitsui Trust Holdings Inc. trimmed its holdings in shares of Southern Copper Corp (NYSE:SCCO) by 2.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 466,949 shares of the basic materials company’s stock after selling 12,882 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Southern Copper were worth $15,937,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in SCCO. Price T Rowe Associates Inc. MD lifted its stake in Southern Copper by 15.3% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 5,825,434 shares of the basic materials company’s stock valued at $226,318,000 after acquiring an additional 774,578 shares during the period. Nuveen Asset Management LLC acquired a new stake in Southern Copper during the 2nd quarter valued at approximately $18,171,000. Los Angeles Capital Management & Equity Research Inc. lifted its stake in Southern Copper by 84.3% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 797,772 shares of the basic materials company’s stock valued at $30,993,000 after acquiring an additional 364,888 shares during the period. Teacher Retirement System of Texas lifted its stake in Southern Copper by 2,055.5% during the 3rd quarter. Teacher Retirement System of Texas now owns 175,135 shares of the basic materials company’s stock valued at $5,977,000 after acquiring an additional 167,010 shares during the period. Finally, Invesco Ltd. lifted its stake in Southern Copper by 77.9% during the 2nd quarter. Invesco Ltd. now owns 364,774 shares of the basic materials company’s stock valued at $14,171,000 after acquiring an additional 159,680 shares during the period. Institutional investors and hedge funds own 6.52% of the company’s stock.

SCCO opened at $37.79 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.92 and a quick ratio of 2.18. The firm has a fifty day moving average price of $34.83 and a 200 day moving average price of $35.19. Southern Copper Corp has a 1 year low of $29.01 and a 1 year high of $42.42. The stock has a market cap of $29.35 billion, a P/E ratio of 18.90, a P/E/G ratio of 1.59 and a beta of 0.93.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 7th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 4.23%. The ex-dividend date is Wednesday, November 6th. Southern Copper’s dividend payout ratio is currently 80.00%.

Several analysts have commented on the stock. Morgan Stanley upgraded shares of Southern Copper from an “underweight” rating to an “equal” rating and set a $36.00 price objective for the company in a research note on Monday, September 23rd. UBS Group decreased their price objective on shares of Southern Copper from $45.00 to $42.00 and set a “buy” rating for the company in a research note on Thursday, October 10th. Zacks Investment Research cut shares of Southern Copper from a “hold” rating to a “sell” rating and set a $36.00 price objective for the company. in a research note on Wednesday, October 16th. Bank of America restated a “buy” rating and set a $46.00 price objective on shares of Southern Copper in a research note on Thursday, August 15th. Finally, JPMorgan Chase & Co. set a $32.00 target price on shares of Southern Copper and gave the company a “hold” rating in a research note on Wednesday, August 21st. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $39.50.

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 and lead.

Further Reading: Intrinsic Value

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

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