Sumitomo Mitsui DS Asset Management Company Ltd Has $409,000 Stock Position in Southern Copper Co. (NYSE:SCCO)

Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Southern Copper Co. (NYSE:SCCO) by 7.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,538 shares of the basic materials company’s stock after purchasing an additional 250 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Southern Copper were worth $409,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of SCCO. Ballentine Partners LLC increased its holdings in Southern Copper by 5.4% in the first quarter. Ballentine Partners LLC now owns 3,025 shares of the basic materials company’s stock worth $322,000 after buying an additional 154 shares during the last quarter. Riverview Trust Co acquired a new position in shares of Southern Copper during the 1st quarter worth $27,000. Counterpoint Mutual Funds LLC bought a new position in shares of Southern Copper during the 1st quarter valued at $254,000. GoalVest Advisory LLC bought a new position in Southern Copper during the first quarter valued at about $2,091,000. Finally, Janiczek Wealth Management LLC lifted its holdings in Southern Copper by 27.4% in the 1st quarter. Janiczek Wealth Management LLC now owns 1,563 shares of the basic materials company’s stock worth $166,000 after purchasing an additional 336 shares during the last quarter. 7.94% of the stock is owned by institutional investors and hedge funds.

Southern Copper Stock Performance

SCCO opened at $114.57 on Wednesday. The stock has a market cap of $89.49 billion, a PE ratio of 32.49, a P/E/G ratio of 1.17 and a beta of 1.18. Southern Copper Co. has a 1 year low of $68.93 and a 1 year high of $129.79. The stock’s 50 day simple moving average is $106.97 and its 200-day simple moving average is $110.12. The company has a current ratio of 2.81, a quick ratio of 2.27 and a debt-to-equity ratio of 0.67.

Southern Copper Dividend Announcement

The firm also recently disclosed a — dividend, which will be paid on Thursday, November 21st. Stockholders 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 is Wednesday, November 6th. Southern Copper’s dividend payout ratio is 68.07%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. UBS Group initiated coverage on shares of Southern Copper in a report on Friday, July 12th. They set a “neutral” rating and a $120.00 price objective for the company. Scotiabank dropped their price objective on 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. Morgan Stanley raised their target price on Southern Copper from $97.00 to $100.00 and gave the company an “underweight” rating in a report on Thursday, September 19th. Finally, Citigroup increased their price objective on Southern Copper from $99.44 to $100.00 and gave the company a “sell” rating in a research report on Wednesday, October 2nd. Six analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target 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.