Global X MANAGEMENT CO LLC grew its stake in shares of Southern Copper Corporation (NYSE:SCCO) by 17.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 65,544 shares of the basic materials company’s stock after purchasing an additional 9,818 shares during the quarter. Global X MANAGEMENT CO LLC’s holdings in Southern Copper Corporation were worth $2,606,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of SCCO. Swiss National Bank grew its holdings in Southern Copper Corporation by 5.7% in the 2nd quarter. Swiss National Bank now owns 380,226 shares of the basic materials company’s stock worth $13,167,000 after buying an additional 20,500 shares in the last quarter. First Trust Advisors LP lifted its position in Southern Copper Corporation by 51.2% in the second quarter. First Trust Advisors LP now owns 211,014 shares of the basic materials company’s stock worth $7,307,000 after purchasing an additional 71,416 shares during the period. Commerzbank Aktiengesellschaft FI lifted its position in Southern Copper Corporation by 342.1% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 154,340 shares of the basic materials company’s stock worth $5,345,000 after purchasing an additional 119,429 shares during the period. Tobam lifted its position in Southern Copper Corporation by 180.3% in the second quarter. Tobam now owns 9,034 shares of the basic materials company’s stock worth $313,000 after purchasing an additional 5,811 shares during the period. Finally, GAM Holding AG lifted its position in Southern Copper Corporation by 0.8% in the second quarter. GAM Holding AG now owns 134,483 shares of the basic materials company’s stock worth $4,657,000 after purchasing an additional 1,100 shares during the period. 6.04% of the stock is owned by institutional investors.
SCCO has been the subject of a number of research analyst reports. Cowen and Company restated a “hold” rating and issued a $39.00 target price on shares of Southern Copper Corporation in a research report on Wednesday, July 19th. Barclays PLC upped their target price on Southern Copper Corporation from $33.00 to $35.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 9th. HSBC Holdings plc downgraded Southern Copper Corporation from a “buy” rating to a “hold” rating and set a $41.00 target price for the company. in a research report on Wednesday, August 16th. BidaskClub upgraded Southern Copper Corporation from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 24th. Finally, Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and set a $40.00 price objective on shares of Southern Copper Corporation in a research report on Monday, October 23rd. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $38.88.
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Shares of Southern Copper Corporation (NYSE SCCO) opened at $43.93 on Tuesday. Southern Copper Corporation has a 1-year low of $31.15 and a 1-year high of $44.69. The company has a quick ratio of 2.00, a current ratio of 3.01 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $33,960.00, a price-to-earnings ratio of 34.31, a PEG ratio of 0.70 and a beta of 0.62.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Wednesday, November 8th will be paid a $0.25 dividend. The ex-dividend date is Tuesday, November 7th. This is an increase from Southern Copper Corporation’s previous quarterly dividend of $0.14. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.28%. Southern Copper Corporation’s dividend payout ratio is 64.94%.
Southern Copper Corporation Company Profile
Southern Copper Corporation is an integrated copper producer. It produces copper and, in the production process, obtains several by-products, including molybdenum, silver, zinc, sulfuric acid and other metals. Its segments include the Peruvian operations, the Mexican open-pit operations and the Mexican underground mining operations segment identified as the IMMSA unit.
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