Southern Copper Co. (NYSE:SCCO) Stock Position Cut by MML Investors Services LLC

MML Investors Services LLC trimmed its stake in shares of Southern Copper Co. (NYSE:SCCO) by 22.7% during the third quarter, Holdings Channel reports. The institutional investor owned 4,166 shares of the basic materials company’s stock after selling 1,223 shares during the period. MML Investors Services LLC’s holdings in Southern Copper were worth $482,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Orion Portfolio Solutions LLC increased its stake in shares of Southern Copper by 2.7% during the third quarter. Orion Portfolio Solutions LLC now owns 16,751 shares of the basic materials company’s stock valued at $1,938,000 after acquiring an additional 441 shares during the period. XTX Topco Ltd increased its position in shares of Southern Copper by 48.4% during the 3rd quarter. XTX Topco Ltd now owns 28,098 shares of the basic materials company’s stock valued at $3,250,000 after purchasing an additional 9,167 shares during the period. Wahed Invest LLC raised its stake in shares of Southern Copper by 17.1% in the 3rd quarter. Wahed Invest LLC now owns 2,104 shares of the basic materials company’s stock worth $243,000 after buying an additional 308 shares in the last quarter. Two Sigma Advisers LP raised its stake in shares of 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 worth $10,430,000 after buying an additional 71,558 shares in the last quarter. Finally, Temasek Holdings Private Ltd lifted its holdings in shares of Southern Copper by 44.2% in the third quarter. Temasek Holdings Private Ltd now owns 338,617 shares of the basic materials company’s stock valued at $39,168,000 after buying an additional 103,852 shares during the period. 7.94% of the stock is owned by institutional investors and hedge funds.

Southern Copper Price Performance

Shares of NYSE:SCCO opened at $93.01 on Monday. The company has a market cap of $73.06 billion, a P/E ratio of 23.95, a price-to-earnings-growth ratio of 1.56 and a beta of 1.14. The company’s fifty day moving average is $105.20 and its two-hundred day moving average is $106.23. The company has a quick ratio of 2.31, a current ratio of 2.77 and a debt-to-equity ratio of 0.64. Southern Copper Co. has a 12-month low of $77.14 and a 12-month high of $129.79.

Southern Copper Announces Dividend

The firm also recently disclosed a — dividend, which was paid on Thursday, November 21st. Investors of record on Wednesday, November 6th were paid a $0.62 dividend. This represents a yield of 2.1%. The ex-dividend date was Wednesday, November 6th. Southern Copper’s dividend payout ratio is currently 72.16%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Citigroup boosted their price target on shares of Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a research report on Wednesday, October 2nd. Scotiabank cut their target price 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. 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 report on Monday, December 2nd. Finally, Morgan Stanley raised Southern Copper from an “underweight” rating to an “equal weight” rating and dropped their price target for the company from $106.30 to $102.00 in a report on Thursday, December 12th. Four 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. According to MarketBeat.com, Southern Copper has an average rating of “Hold” and an average 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.