Southern Copper Co. (NYSE:SCCO) Shares Acquired by Nordea Investment Management AB

Nordea Investment Management AB grew its position in shares of Southern Copper Co. (NYSE:SCCO) by 15.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 108,753 shares of the basic materials company’s stock after acquiring an additional 14,391 shares during the quarter. Nordea Investment Management AB’s holdings in Southern Copper were worth $9,969,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. M&T Bank Corp boosted its holdings in Southern Copper by 0.5% in the 3rd quarter. M&T Bank Corp now owns 20,460 shares of the basic materials company’s stock worth $2,367,000 after acquiring an additional 105 shares during the period. Ensign Peak Advisors Inc grew its holdings in Southern Copper by 1.0% during the 2nd quarter. Ensign Peak Advisors Inc now owns 10,558 shares of the basic materials company’s stock valued at $1,138,000 after purchasing an additional 108 shares in the last quarter. Prudential PLC increased its stake in Southern Copper by 1.0% during the 2nd quarter. Prudential PLC now owns 10,667 shares of the basic materials company’s stock worth $1,149,000 after buying an additional 109 shares during the period. Tyche Wealth Partners LLC lifted its holdings in Southern Copper by 0.6% in the 3rd quarter. Tyche Wealth Partners LLC now owns 19,685 shares of the basic materials company’s stock worth $2,277,000 after buying an additional 109 shares in the last quarter. Finally, Greenwood Capital Associates LLC grew its stake in shares of Southern Copper by 0.7% during the third quarter. Greenwood Capital Associates LLC now owns 15,722 shares of the basic materials company’s stock valued at $1,819,000 after acquiring an additional 112 shares in the last quarter. 7.94% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently commented on the company. JPMorgan Chase & Co. upgraded 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, December 2nd. Citigroup upped their price target 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. Scotiabank reduced their price objective on shares of 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. Finally, Morgan Stanley raised shares of Southern Copper from an “underweight” rating to an “equal weight” rating and dropped their target price for the stock from $106.30 to $102.00 in a research report on Thursday, December 12th. Four research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $94.81.

Southern Copper Price Performance

SCCO opened at $95.51 on Friday. The company has a quick ratio of 2.31, a current ratio of 2.77 and a debt-to-equity ratio of 0.64. The company’s 50-day moving average price is $99.56 and its 200 day moving average price is $104.75. Southern Copper Co. has a fifty-two week low of $77.14 and a fifty-two week high of $129.79. The firm has a market cap of $75.03 billion, a price-to-earnings ratio of 24.59, a price-to-earnings-growth ratio of 1.56 and a beta of 1.14.

Southern Copper Announces Dividend

The business also recently disclosed a — dividend, which was paid on Thursday, November 21st. Investors of record on Wednesday, November 6th were given 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 72.16%.

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.