Glenmede Trust Co. NA Grows Stock Position in Southern Copper Co. (NYSE:SCCO)

Glenmede Trust Co. NA boosted its stake in shares of Southern Copper Co. (NYSE:SCCO) by 3.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 6,734 shares of the basic materials company’s stock after acquiring an additional 196 shares during the period. Glenmede Trust Co. NA’s holdings in Southern Copper were worth $779,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Creative Financial Designs Inc. ADV raised its holdings in shares of Southern Copper by 172.0% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 223 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 141 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new stake in Southern Copper in the second quarter valued at $31,000. McClarren Financial Advisors Inc. lifted its holdings in Southern Copper by 169.2% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 288 shares of the basic materials company’s stock worth $33,000 after buying an additional 181 shares during the last quarter. Oakworth Capital Inc. purchased a new position in shares of Southern Copper in the 3rd quarter valued at about $42,000. Finally, Prospera Private Wealth LLC purchased a new position in shares of Southern Copper in the 3rd quarter valued at about $47,000. Institutional investors and hedge funds own 7.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on SCCO shares. Morgan Stanley upped their price target on Southern Copper from $97.00 to $100.00 and gave the company an “underweight” rating in a report on Thursday, September 19th. Citigroup upped their target price 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. JPMorgan Chase & Co. upgraded shares of Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price target on the stock in a research note on Monday. Finally, Scotiabank decreased their price objective on shares of 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. Five investment analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $94.56.

Southern Copper Price Performance

Shares of SCCO opened at $101.33 on Wednesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.77. Southern Copper Co. has a fifty-two week low of $70.92 and a fifty-two week high of $129.79. The firm has a 50-day simple moving average of $109.72 and a 200-day simple moving average of $107.97. The company has a market capitalization of $79.59 billion, a price-to-earnings ratio of 26.09, a price-to-earnings-growth ratio of 1.55 and a beta of 1.14.

Southern Copper Dividend Announcement

The company also recently declared a — dividend, which was paid on Thursday, November 21st. Investors 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 yield of 2.1%. Southern Copper’s dividend payout ratio is currently 72.09%.

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.