Barclays PLC Has $5.56 Million Stake in Southern Copper Co. (NYSE:SCCO)

Barclays PLC lowered its holdings in Southern Copper Co. (NYSE:SCCO) by 21.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 48,101 shares of the basic materials company’s stock after selling 13,214 shares during the period. Barclays PLC’s holdings in Southern Copper were worth $5,563,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Southern Copper by 7.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 230,495 shares of the basic materials company’s stock valued at $26,661,000 after buying an additional 15,386 shares in the last quarter. Morse Asset Management Inc bought a new position in Southern Copper during the 3rd quarter worth $1,397,000. Two Sigma Advisers LP raised its holdings in Southern Copper by 384.4% in the 3rd quarter. Two Sigma Advisers LP now owns 90,173 shares of the basic materials company’s stock valued at $10,430,000 after acquiring an additional 71,558 shares in the last quarter. Gateway Advisory LLC bought a new stake in shares of Southern Copper during the 2nd quarter valued at $625,000. Finally, BNP Paribas Financial Markets grew its holdings in shares of Southern Copper by 1,601.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 192,571 shares of the basic materials company’s stock worth $22,275,000 after purchasing an additional 181,252 shares in the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Southern Copper Price Performance

SCCO stock opened at $93.01 on Friday. The stock has a market cap of $73.06 billion, a price-to-earnings ratio of 23.95, a P/E/G ratio of 1.56 and a beta of 1.14. 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 company has a 50 day simple moving average of $105.20 and a 200 day simple moving average of $106.26. Southern Copper Co. has a 1 year low of $77.14 and a 1 year high of $129.79.

Southern Copper Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a dividend yield of 2.1%. Southern Copper’s dividend payout ratio (DPR) is presently 72.16%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Citigroup boosted their price target on Southern Copper from $99.44 to $100.00 and gave the company a “sell” rating in a research note on Wednesday, October 2nd. Morgan Stanley upgraded shares of Southern Copper from an “underweight” rating to an “equal weight” rating and dropped their target price for the company from $106.30 to $102.00 in a research report on Thursday, December 12th. Scotiabank reduced 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 report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. upgraded shares of Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price objective for the company in a research report on Monday, December 2nd. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target 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.