Southern Copper Co. (NYSE:SCCO) Shares Sold by Public Sector Pension Investment Board

Public Sector Pension Investment Board lowered its position in shares of Southern Copper Co. (NYSE:SCCO) by 0.7% in the third quarter, Holdings Channel reports. The institutional investor owned 73,761 shares of the basic materials company’s stock after selling 487 shares during the quarter. Public Sector Pension Investment Board’s holdings in Southern Copper were worth $8,532,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in SCCO. Creative Financial Designs Inc. ADV increased its stake in Southern Copper by 172.0% during the third quarter. Creative Financial Designs Inc. ADV now owns 223 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 141 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new position in shares of Southern Copper during the 2nd quarter worth $31,000. McClarren Financial Advisors Inc. increased its position in shares of 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 purchasing an additional 181 shares during the last quarter. Oakworth Capital Inc. purchased a new stake in Southern Copper in the 3rd quarter valued at about $42,000. Finally, Prospera Private Wealth LLC purchased a new stake in Southern Copper in the 3rd quarter valued at about $47,000. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on SCCO shares. Scotiabank dropped their price target on shares of Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating for the company in a research report on Tuesday, October 15th. Citigroup boosted their target price on Southern Copper from $99.44 to $100.00 and gave the company a “sell” rating in a research report on Wednesday, October 2nd. Finally, Morgan Stanley raised their price target on Southern Copper from $97.00 to $100.00 and gave the stock an “underweight” rating in a research report on Thursday, September 19th. Six research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Southern Copper currently has an average rating of “Hold” and an average target price of $90.63.

Southern Copper Stock Performance

Shares of SCCO opened at $100.35 on Friday. Southern Copper Co. has a 1 year low of $70.92 and a 1 year high of $129.79. The stock has a market capitalization of $78.83 billion, a PE ratio of 25.84, a PEG ratio of 1.54 and a beta of 1.18. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.77. The stock has a 50-day simple moving average of $110.08 and a 200-day simple moving average of $108.49.

Southern Copper Announces Dividend

The company also recently declared a — dividend, which was paid on Thursday, November 21st. Shareholders of record on Wednesday, November 6th were issued a dividend of $0.62 per share. This represents a yield of 2.1%. The ex-dividend date was Wednesday, November 6th. Southern Copper’s dividend payout ratio (DPR) is presently 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.