Charles Schwab Investment Management Inc. Decreases Stock Holdings in Southern Copper Co. (NYSE:SCCO)

Charles Schwab Investment Management Inc. cut its holdings in Southern Copper Co. (NYSE:SCCO) by 0.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 232,548 shares of the basic materials company’s stock after selling 1,084 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Southern Copper were worth $26,899,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cetera Investment Advisers raised its stake in Southern Copper by 395.1% in the first quarter. Cetera Investment Advisers now owns 38,803 shares of the basic materials company’s stock valued at $4,133,000 after buying an additional 30,966 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in Southern Copper by 7.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 230,495 shares of the basic materials company’s stock valued at $26,661,000 after buying an additional 15,386 shares during the last quarter. Gateway Advisory LLC purchased a new stake in Southern Copper in the second quarter valued at about $625,000. Oppenheimer Asset Management Inc. purchased a new stake in Southern Copper in the third quarter valued at about $2,289,000. Finally, IFM Investors Pty Ltd raised its stake in Southern Copper by 100.4% in the third quarter. IFM Investors Pty Ltd now owns 11,468 shares of the basic materials company’s stock valued at $1,327,000 after buying an additional 5,746 shares during the last quarter. 7.94% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on SCCO. JPMorgan Chase & Co. upgraded Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price target for the company in a research note on Monday. Citigroup increased their price objective on Southern Copper from $99.44 to $100.00 and gave the company a “sell” rating in a report on Wednesday, October 2nd. 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. Finally, Morgan Stanley increased their price objective on Southern Copper from $97.00 to $100.00 and gave the company an “underweight” rating in a report on Thursday, September 19th. Five investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Southern Copper presently has an average rating of “Hold” and an average target price of $94.56.

Southern Copper Stock Down 0.1 %

Southern Copper stock opened at $101.22 on Thursday. The firm has a market cap of $79.51 billion, a price-to-earnings ratio of 26.06, a price-to-earnings-growth ratio of 1.55 and a beta of 1.14. Southern Copper Co. has a 52 week low of $70.92 and a 52 week high of $129.79. The business’s 50-day moving average price is $109.52 and its 200 day moving average price is $107.93. 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 Dividend Announcement

The business also recently announced 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. This represents a yield of 2.1%. The ex-dividend date was Wednesday, November 6th. Southern Copper’s dividend payout ratio (DPR) is 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.