Nisa Investment Advisors LLC Acquires 144 Shares of Southern Copper Co. (NYSE:SCCO)

Nisa Investment Advisors LLC lifted its holdings in Southern Copper Co. (NYSE:SCCO) by 0.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,426 shares of the basic materials company’s stock after acquiring an additional 144 shares during the period. Nisa Investment Advisors LLC’s holdings in Southern Copper were worth $2,226,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its position in shares of Southern Copper by 0.5% during the second quarter. Dimensional Fund Advisors LP now owns 375,173 shares of the basic materials company’s stock valued at $40,424,000 after buying an additional 1,910 shares during the last quarter. Amalgamated Bank increased its holdings in Southern Copper by 3.4% in the 2nd quarter. Amalgamated Bank now owns 5,824 shares of the basic materials company’s stock valued at $627,000 after acquiring an additional 190 shares during the last quarter. Sei Investments Co. boosted its holdings in shares of Southern Copper by 46.2% during the 2nd quarter. Sei Investments Co. now owns 98,167 shares of the basic materials company’s stock valued at $10,577,000 after purchasing an additional 31,044 shares during the last quarter. Ensign Peak Advisors Inc grew its position in shares of Southern Copper by 1.0% during the second 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. Finally, Bank of Montreal Can increased its holdings in shares of Southern Copper by 129.8% in the second quarter. Bank of Montreal Can now owns 79,712 shares of the basic materials company’s stock worth $8,772,000 after purchasing an additional 45,020 shares during the last quarter. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Southern Copper Stock Down 0.7 %

Shares of NYSE:SCCO opened at $96.52 on Monday. The firm has a market capitalization of $75.82 billion, a PE ratio of 24.85, a price-to-earnings-growth ratio of 1.92 and a beta of 1.14. The business has a 50 day simple moving average of $97.37 and a two-hundred day simple moving average of $103.54. Southern Copper Co. has a 1 year low of $77.42 and a 1 year high of $129.79. 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 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Tuesday, February 11th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.90%. This is an increase from Southern Copper’s previous quarterly dividend of $0.60. The ex-dividend date is Monday, February 10th. Southern Copper’s dividend payout ratio (DPR) is 72.16%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SCCO. Morgan Stanley upgraded Southern Copper from an “underweight” rating to an “equal weight” rating and cut their price target for the company from $106.30 to $102.00 in a report on Thursday, December 12th. 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 lowered their price objective 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. Finally, JPMorgan Chase & Co. upgraded shares of Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 target price on the stock in a research report on Monday, December 2nd. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently 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.