Zurcher Kantonalbank Zurich Cantonalbank Grows Position in Southern Copper Co. (NYSE:SCCO)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Southern Copper Co. (NYSE:SCCO) by 0.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 57,376 shares of the basic materials company’s stock after buying an additional 319 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Southern Copper were worth $6,637,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Southern Copper in the 3rd quarter valued at approximately $924,000. Glenmede Trust Co. NA increased its holdings in Southern Copper by 3.0% in the 3rd quarter. Glenmede Trust Co. NA now owns 6,734 shares of the basic materials company’s stock valued at $779,000 after purchasing an additional 196 shares during the last quarter. Townsquare Capital LLC raised its position in Southern Copper by 48.7% in the third quarter. Townsquare Capital LLC now owns 8,687 shares of the basic materials company’s stock valued at $1,005,000 after purchasing an additional 2,845 shares during the period. BNP Paribas Financial Markets raised its position in Southern Copper by 1,601.3% in the third quarter. BNP Paribas Financial Markets now owns 192,571 shares of the basic materials company’s stock valued at $22,275,000 after purchasing an additional 181,252 shares during the period. Finally, Brooklyn Investment Group acquired a new position in Southern Copper during the third quarter worth $93,000. Institutional investors and hedge funds own 7.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Scotiabank cut their price objective on Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating on the stock in a report on Tuesday, October 15th. Citigroup lifted their price objective 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. Finally, Morgan Stanley raised their price target on shares of Southern Copper from $97.00 to $100.00 and gave the company an “underweight” rating in a research report on Thursday, September 19th. Six equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $90.63.

Southern Copper Trading Up 0.6 %

NYSE SCCO opened at $100.35 on Monday. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.77 and a quick ratio of 2.31. Southern Copper Co. has a 12 month low of $70.92 and a 12 month high of $129.79. The company has a market capitalization of $78.83 billion, a price-to-earnings ratio of 25.86, a price-to-earnings-growth ratio of 1.55 and a beta of 1.18. The firm’s fifty day moving average price is $110.08 and its 200 day moving average price is $108.28.

Southern Copper Announces Dividend

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

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.