Y Intercept Hong Kong Ltd Cuts Holdings in Southern Copper Co. (NYSE:SCCO)

Y Intercept Hong Kong Ltd trimmed its holdings in shares of Southern Copper Co. (NYSE:SCCO) by 79.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,880 shares of the basic materials company’s stock after selling 23,355 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Southern Copper were worth $680,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Fisher Asset Management LLC raised its stake in shares of Southern Copper by 10.6% during the 3rd quarter. Fisher Asset Management LLC now owns 2,963,572 shares of the basic materials company’s stock worth $342,796,000 after buying an additional 283,562 shares in the last quarter. State Street Corp increased its stake in Southern Copper by 1.0% in the 3rd quarter. State Street Corp now owns 2,728,802 shares of the basic materials company’s stock valued at $315,641,000 after purchasing an additional 27,358 shares in the last quarter. Empower Advisory Group LLC increased its stake in Southern Copper by 3.3% in the 3rd quarter. Empower Advisory Group LLC now owns 1,004,060 shares of the basic materials company’s stock valued at $116,140,000 after purchasing an additional 32,314 shares in the last quarter. Marathon Asset Management Ltd increased its stake in Southern Copper by 2.9% in the 3rd quarter. Marathon Asset Management Ltd now owns 788,672 shares of the basic materials company’s stock valued at $91,226,000 after purchasing an additional 22,437 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in Southern Copper by 0.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 630,579 shares of the basic materials company’s stock valued at $67,939,000 after purchasing an additional 4,580 shares in the last quarter. 7.94% of the stock is owned by hedge funds and other institutional investors.

Southern Copper Price Performance

SCCO stock opened at $100.00 on Friday. Southern Copper Co. has a 52-week low of $77.14 and a 52-week high of $129.79. The stock’s fifty day simple moving average is $107.35 and its 200-day simple moving average is $107.01. The company has a quick ratio of 2.31, a current ratio of 2.77 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $78.55 billion, a price-to-earnings ratio of 25.77, a price-to-earnings-growth ratio of 1.61 and a beta of 1.14.

Southern Copper Announces Dividend

The firm also recently disclosed a — dividend, which was paid on Thursday, November 21st. Stockholders of record on Wednesday, November 6th were issued a dividend of $0.62 per share. This represents a dividend yield of 2.1%. The ex-dividend date of this dividend was Wednesday, November 6th. Southern Copper’s dividend payout ratio (DPR) is 72.16%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SCCO. JPMorgan Chase & Co. raised Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price objective for the company in a research note on Monday, December 2nd. Morgan Stanley raised Southern Copper from an “underweight” rating to an “equal weight” rating and dropped their price objective for the company from $106.30 to $102.00 in a research note on Thursday. Scotiabank dropped their price objective on Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating for the company in a research note on Tuesday, October 15th. Finally, Citigroup raised their price objective on Southern Copper from $99.44 to $100.00 and gave the company a “sell” rating in a research note on Wednesday, October 2nd. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $94.81.

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, copper, molybdenum, silver, gold, and lead.