Greenwood Capital Associates LLC Raises Holdings in Southern Copper Co. (NYSE:SCCO)

Greenwood Capital Associates LLC boosted its stake in shares of Southern Copper Co. (NYSE:SCCO) by 0.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 15,722 shares of the basic materials company’s stock after buying an additional 112 shares during the period. Greenwood Capital Associates LLC’s holdings in Southern Copper were worth $1,819,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. PDS Planning Inc grew its stake in Southern Copper by 6.0% in the third quarter. PDS Planning Inc now owns 2,738 shares of the basic materials company’s stock worth $317,000 after purchasing an additional 156 shares in the last quarter. World Equity Group Inc. bought a new position in shares of Southern Copper during the 3rd quarter worth $226,000. National Pension Service increased its stake in shares of Southern Copper by 15.8% during the third quarter. National Pension Service now owns 26,713 shares of the basic materials company’s stock valued at $3,090,000 after buying an additional 3,639 shares during the period. Robeco Institutional Asset Management B.V. lifted its stake in Southern Copper by 11.6% in the third quarter. Robeco Institutional Asset Management B.V. now owns 112,086 shares of the basic materials company’s stock worth $12,965,000 after acquiring an additional 11,640 shares during the period. Finally, Blue Square Asset Management LLC raised its stake in Southern Copper by 4.1% in the third quarter. Blue Square Asset Management LLC now owns 37,706 shares of the basic materials company’s stock worth $4,361,000 after buying an additional 1,468 shares in the last quarter. Institutional investors own 7.94% of the company’s stock.

Wall Street Analyst Weigh In

SCCO has been the subject of a number of research analyst reports. UBS Group began coverage on shares of Southern Copper in a report on Friday, July 12th. They issued a “neutral” rating and a $120.00 price target for the company. Morgan Stanley raised their price objective on shares of Southern Copper from $97.00 to $100.00 and gave the company an “underweight” rating in a research note on Thursday, September 19th. Citigroup boosted their price objective on shares of Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a research report on Wednesday, October 2nd. Finally, Scotiabank dropped their price target on shares of Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating on the stock in a research note on Tuesday, October 15th. Six analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Southern Copper has a consensus rating of “Hold” and an average target price of $90.63.

Southern Copper Stock Up 1.1 %

Shares of Southern Copper stock opened at $111.31 on Tuesday. The stock has a market cap of $86.95 billion, a price-to-earnings ratio of 28.66, a price-to-earnings-growth ratio of 1.13 and a beta of 1.18. The company has a current ratio of 2.77, a quick ratio of 2.31 and a debt-to-equity ratio of 0.64. Southern Copper Co. has a twelve month low of $68.93 and a twelve month high of $129.79. The company has a fifty day moving average price of $108.57 and a 200 day moving average price of $109.99.

Southern Copper Announces Dividend

The firm also recently declared a — dividend, which will be paid on Thursday, November 21st. Investors of record on Wednesday, November 6th will be paid a $0.62 dividend. This represents a dividend yield of 2.1%. The ex-dividend date of this dividend is Wednesday, November 6th. Southern Copper’s dividend payout ratio (DPR) is 61.79%.

Southern Copper Company 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.