National Pension Service Increases Stake in Southern Copper Co. (NYSE:SCCO)

National Pension Service increased its holdings in Southern Copper Co. (NYSE:SCCO) by 15.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,713 shares of the basic materials company’s stock after acquiring an additional 3,639 shares during the quarter. National Pension Service’s holdings in Southern Copper were worth $3,090,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Ensign Peak Advisors Inc raised its holdings in Southern Copper by 1.0% in the second quarter. Ensign Peak Advisors Inc now owns 10,558 shares of the basic materials company’s stock worth $1,138,000 after purchasing an additional 108 shares in the last quarter. Prudential PLC grew its holdings in Southern Copper by 1.0% in the second quarter. Prudential PLC now owns 10,667 shares of the basic materials company’s stock worth $1,149,000 after purchasing an additional 109 shares during the last quarter. Tyche Wealth Partners LLC increased its position in shares of Southern Copper by 0.6% during the third quarter. Tyche Wealth Partners LLC now owns 19,685 shares of the basic materials company’s stock worth $2,277,000 after purchasing an additional 109 shares in the last quarter. Inspire Advisors LLC lifted its holdings in shares of Southern Copper by 3.9% during the 3rd quarter. Inspire Advisors LLC now owns 3,001 shares of the basic materials company’s stock valued at $347,000 after purchasing an additional 113 shares during the last quarter. Finally, American Financial Advisors LLC boosted its position in shares of Southern Copper by 1.0% in the 2nd quarter. American Financial Advisors LLC now owns 11,718 shares of the basic materials company’s stock worth $1,262,000 after purchasing an additional 117 shares in the last quarter. 7.94% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on SCCO shares. UBS Group started coverage on Southern Copper in a research note on Friday, July 12th. They issued a “neutral” rating and a $120.00 price target for the company. Morgan Stanley increased their price objective 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. Scotiabank dropped their target price on shares of Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating on the stock in a research report on Tuesday, October 15th. Finally, Citigroup raised their price target on shares of Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a report on Wednesday, October 2nd. Six analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Southern Copper has an average rating of “Hold” and an average price target of $90.63.

Southern Copper Stock Up 3.6 %

NYSE SCCO opened at $113.48 on Friday. The business has a fifty day moving average price of $108.91 and a 200 day moving average price of $109.99. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.77. The company has a market cap of $88.65 billion, a P/E ratio of 29.20, a P/E/G ratio of 1.14 and a beta of 1.18. Southern Copper Co. has a one year low of $68.93 and a one year high of $129.79.

Southern Copper Dividend Announcement

The business also recently disclosed a — dividend, which will be paid on Thursday, November 21st. Investors of record on Wednesday, November 6th will be given 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 payout ratio is 72.16%.

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.