Southern Copper Co. (NYSE:SCCO) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund decreased its position in shares of Southern Copper Co. (NYSE:SCCO) by 5.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 140,981 shares of the basic materials company’s stock after selling 8,407 shares during the quarter. New York State Common Retirement Fund’s holdings in Southern Copper were worth $16,307,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cetera Investment Advisers boosted its position in shares of Southern Copper by 395.1% during the 1st quarter. Cetera Investment Advisers now owns 38,803 shares of the basic materials company’s stock valued at $4,133,000 after acquiring an additional 30,966 shares during the last quarter. Advisors Asset Management Inc. boosted its position in shares of Southern Copper by 21.7% during the 1st quarter. Advisors Asset Management Inc. now owns 90,237 shares of the basic materials company’s stock valued at $9,612,000 after acquiring an additional 16,111 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its position in shares of Southern Copper by 182.3% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 278,119 shares of the basic materials company’s stock valued at $29,625,000 after acquiring an additional 179,590 shares during the last quarter. Oppenheimer & Co. Inc. boosted its position in shares of Southern Copper by 157.1% during the 1st quarter. Oppenheimer & Co. Inc. now owns 22,175 shares of the basic materials company’s stock valued at $2,362,000 after acquiring an additional 13,550 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Southern Copper by 18.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,771,332 shares of the basic materials company’s stock valued at $827,804,000 after acquiring an additional 1,192,111 shares during the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Southern Copper Stock Up 2.4 %

Shares of NYSE:SCCO opened at $114.02 on Wednesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.77 and a quick ratio of 2.31. The firm has a market capitalization of $89.07 billion, a PE ratio of 29.35, a price-to-earnings-growth ratio of 1.13 and a beta of 1.18. The firm’s 50-day moving average is $108.74 and its two-hundred day moving average is $109.99. Southern Copper Co. has a 1 year low of $68.93 and a 1 year high of $129.79.

Southern Copper Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on SCCO shares. Morgan Stanley boosted their price target on shares of Southern Copper from $97.00 to $100.00 and gave the company an “underweight” rating in a research report on Thursday, September 19th. Citigroup boosted their price objective on shares of Southern Copper from $99.44 to $100.00 and gave the company a “sell” rating in a report on Wednesday, October 2nd. Scotiabank reduced their price objective on shares of Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating on the stock in a report on Tuesday, October 15th. Finally, UBS Group assumed coverage on shares of Southern Copper in a report on Friday, July 12th. They issued a “neutral” rating and a $120.00 price objective on the stock. Six analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $90.63.

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.