Sumitomo Mitsui Trust Group Inc. Reduces Holdings in Southern Copper Co. (NYSE:SCCO)

Sumitomo Mitsui Trust Group Inc. lowered its stake in Southern Copper Co. (NYSE:SCCO) by 0.3% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 225,107 shares of the basic materials company’s stock after selling 739 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Southern Copper were worth $26,038,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Ensign Peak Advisors Inc lifted its stake 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 buying an additional 108 shares during the period. Prudential PLC lifted its stake in shares of Southern Copper by 1.0% during the 2nd quarter. Prudential PLC now owns 10,667 shares of the basic materials company’s stock worth $1,149,000 after purchasing an additional 109 shares during the period. Tyche Wealth Partners LLC boosted its holdings in shares of Southern Copper by 0.6% during the third quarter. Tyche Wealth Partners LLC now owns 19,685 shares of the basic materials company’s stock worth $2,277,000 after purchasing an additional 109 shares during the last quarter. Greenwood Capital Associates LLC grew its position in shares of Southern Copper by 0.7% in the third quarter. Greenwood Capital Associates LLC now owns 15,722 shares of the basic materials company’s stock valued at $1,819,000 after purchasing an additional 112 shares during the period. Finally, Inspire Advisors LLC increased its stake in Southern Copper by 3.9% in the third quarter. Inspire Advisors LLC now owns 3,001 shares of the basic materials company’s stock valued at $347,000 after purchasing an additional 113 shares during the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Scotiabank decreased their price target on 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. Morgan Stanley boosted their target price on shares of Southern Copper from $97.00 to $100.00 and gave the company an “underweight” rating in a report on Thursday, September 19th. Finally, Citigroup increased their price target on shares of Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a research note on Wednesday, October 2nd. Six equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Southern Copper currently has a consensus rating of “Hold” and a consensus price target of $90.63.

Southern Copper Stock Performance

NYSE:SCCO opened at $99.24 on Friday. Southern Copper Co. has a twelve month low of $70.63 and a twelve month high of $129.79. The firm has a market capitalization of $77.96 billion, a price-to-earnings ratio of 25.54, a PEG ratio of 1.04 and a beta of 1.18. The company has a current ratio of 2.77, a quick ratio of 2.31 and a debt-to-equity ratio of 0.64. The firm’s fifty day simple moving average is $109.72 and its 200 day simple moving average is $109.56.

Southern Copper Announces Dividend

The business also recently announced a — dividend, which will be paid on Thursday, November 21st. Stockholders of record on Wednesday, November 6th will be given a $0.62 dividend. This represents a dividend yield of 2.1%. The ex-dividend date of this dividend is Wednesday, November 6th. Southern Copper’s payout ratio is 72.09%.

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.