Southern Copper Co. (NYSE:SCCO) Shares Acquired by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. boosted its position in Southern Copper Co. (NYSE:SCCO) by 4.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,955 shares of the basic materials company’s stock after purchasing an additional 778 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Southern Copper were worth $1,961,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of SCCO. Creative Financial Designs Inc. ADV lifted its position in Southern Copper by 172.0% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 223 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 141 shares during the last quarter. Itau Unibanco Holding S.A. bought a new stake in shares of Southern Copper during the 2nd quarter worth about $31,000. McClarren Financial Advisors Inc. raised its position in shares of Southern Copper by 169.2% during the 3rd 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. bought a new stake in shares of Southern Copper during the 3rd quarter worth about $42,000. Finally, Planning Capital Management Corp bought a new stake in shares of Southern Copper during the 3rd quarter worth about $52,000. 7.94% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on SCCO shares. Morgan Stanley boosted their price target on shares of Southern Copper from $97.00 to $100.00 and gave the stock an “underweight” rating in a research report on Thursday, September 19th. 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. Finally, Scotiabank dropped their price target on shares of Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating on the stock in a research report on Tuesday, October 15th. Six investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $90.63.

Southern Copper Stock Performance

Southern Copper stock opened at $98.54 on Wednesday. The firm’s 50 day simple moving average is $110.28 and its 200-day simple moving average is $108.76. The company has a market cap of $77.41 billion, a P/E ratio of 25.37, a price-to-earnings-growth ratio of 1.03 and a beta of 1.18. 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 Co. has a fifty-two week low of $70.63 and a fifty-two week high of $129.79.

Southern Copper Dividend Announcement

The company also recently announced a — dividend, which was paid on Thursday, November 21st. Stockholders of record on Wednesday, November 6th were given a $0.62 dividend. This represents a dividend yield of 2.1%. The ex-dividend date was Wednesday, November 6th. Southern Copper’s dividend payout ratio (DPR) is currently 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.