Advisors Asset Management Inc. Sells 7,728 Shares of Southern Copper Co. (NYSE:SCCO)

Advisors Asset Management Inc. lessened its holdings in shares of Southern Copper Co. (NYSE:SCCO) by 11.4% during the 3rd quarter, Holdings Channel reports. The firm owned 59,876 shares of the basic materials company’s stock after selling 7,728 shares during the period. Advisors Asset Management Inc.’s holdings in Southern Copper were worth $6,926,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV raised its stake in Southern Copper by 172.0% during 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 period. Itau Unibanco Holding S.A. bought a new stake in Southern Copper during the 2nd quarter valued at approximately $31,000. McClarren Financial Advisors Inc. raised its stake in Southern Copper by 169.2% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 288 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 181 shares during the period. Oakworth Capital Inc. bought a new stake in Southern Copper during the 3rd quarter valued at approximately $42,000. Finally, Prospera Private Wealth LLC bought a new stake in Southern Copper during the 3rd quarter valued at approximately $47,000. Institutional investors own 7.94% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SCCO. Citigroup lifted their target price on Southern Copper from $99.44 to $100.00 and gave the company a “sell” rating in a research note on Wednesday, October 2nd. Scotiabank reduced their price objective 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. Finally, Morgan Stanley lifted their price objective on Southern Copper from $97.00 to $100.00 and gave the stock an “underweight” rating in a research note on Thursday, September 19th. Six analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $90.63.

Southern Copper Stock Performance

NYSE SCCO opened at $102.98 on Thursday. The company has a market cap of $80.89 billion, a P/E ratio of 26.51, a P/E/G ratio of 1.07 and a beta of 1.18. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.77. The business’s 50 day moving average price is $110.17 and its 200-day moving average price is $109.27. Southern Copper Co. has a fifty-two week low of $70.63 and a fifty-two week high of $129.79.

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 dividend of $0.62 per share. This represents a dividend yield of 2.1%. The ex-dividend date of this dividend is Wednesday, November 6th. Southern Copper’s dividend payout ratio 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.