Nisa Investment Advisors LLC Lowers Stock Position in Southern Copper Co. (NYSE:SCCO)

Nisa Investment Advisors LLC trimmed its holdings in shares of Southern Copper Co. (NYSE:SCCO) by 34.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,282 shares of the basic materials company’s stock after selling 12,736 shares during the period. Nisa Investment Advisors LLC’s holdings in Southern Copper were worth $2,809,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of SCCO. Fidelis Capital Partners LLC purchased a new position in Southern Copper in the first quarter worth $26,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Southern Copper in the second quarter valued at about $31,000. McClarren Financial Advisors Inc. boosted its holdings in Southern Copper by 169.2% during the third quarter. McClarren Financial Advisors Inc. now owns 288 shares of the basic materials company’s stock worth $33,000 after buying an additional 181 shares in the last quarter. Oakworth Capital Inc. acquired a new position in Southern Copper during the third quarter worth about $42,000. Finally, Hanseatic Management Services Inc. purchased a new position in Southern Copper in the second quarter valued at about $53,000. 7.94% of the stock is owned by institutional investors and hedge funds.

Southern Copper Trading Up 0.5 %

Shares of SCCO stock opened at $110.10 on Friday. Southern Copper Co. has a twelve month low of $68.93 and a twelve month high of $129.79. The company has a market capitalization of $86.01 billion, a price-to-earnings ratio of 28.35, a PEG ratio of 1.14 and a beta of 1.18. The firm has a 50-day moving average price of $108.45 and a 200 day moving average price of $110.07. The company has a current ratio of 2.81, a quick ratio of 2.27 and a debt-to-equity ratio of 0.67.

Southern Copper Dividend Announcement

The firm also recently declared a — dividend, which will be paid on Thursday, November 21st. Shareholders of record on Wednesday, November 6th will be issued a $0.62 dividend. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a yield of 2.1%. Southern Copper’s dividend payout ratio (DPR) is presently 61.79%.

Wall Street Analyst Weigh In

SCCO has been the topic of a number of research reports. Morgan Stanley upped their price target on Southern Copper from $97.00 to $100.00 and gave the stock an “underweight” rating in a report on Thursday, September 19th. UBS Group assumed coverage on Southern Copper in a report on Friday, July 12th. They issued a “neutral” rating and a $120.00 target price on the stock. Citigroup lifted their price target on Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a research note on Wednesday, October 2nd. Finally, Scotiabank lowered their price objective on shares of Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating on the stock in a research note on Tuesday, October 15th. Six research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $90.63.

About Southern Copper

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.