Advisors Asset Management Inc. Has $6.93 Million Stock Position in Southern Copper Co. (NYSE:SCCO)

Advisors Asset Management Inc. lowered its stake in shares of Southern Copper Co. (NYSE:SCCO - Free Report) by 11.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 59,876 shares of the basic materials company's stock after selling 7,728 shares during the quarter. Advisors Asset Management Inc.'s holdings in Southern Copper were worth $6,926,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SCCO. Capital World Investors bought a new stake in Southern Copper in the first quarter valued at $340,373,000. Price T Rowe Associates Inc. MD raised its position in Southern Copper by 18.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,771,332 shares of the basic materials company's stock worth $827,804,000 after buying an additional 1,192,111 shares during the last quarter. Los Angeles Capital Management LLC raised its position in Southern Copper by 1,300.4% in the 2nd quarter. Los Angeles Capital Management LLC now owns 443,285 shares of the basic materials company's stock worth $47,760,000 after buying an additional 411,630 shares during the last quarter. International Assets Investment Management LLC raised its position in Southern Copper by 11,510.5% in the 3rd quarter. International Assets Investment Management LLC now owns 189,716 shares of the basic materials company's stock worth $21,944,000 after buying an additional 188,082 shares during the last quarter. Finally, Lazard Asset Management LLC raised its position in Southern Copper by 421.6% in the 1st quarter. Lazard Asset Management LLC now owns 155,265 shares of the basic materials company's stock worth $16,538,000 after buying an additional 125,496 shares during the last quarter. Institutional investors own 7.94% of the company's stock.

Southern Copper Price Performance

Shares of Southern Copper stock traded down $2.61 on Thursday, hitting $100.39. The company's stock had a trading volume of 377,842 shares, compared to its average volume of 1,135,731. The firm has a fifty day moving average price of $110.17 and a 200-day moving average price of $109.27. Southern Copper Co. has a 52-week low of $70.63 and a 52-week high of $129.79. The company has a market capitalization of $78.86 billion, a P/E ratio of 26.51, a price-to-earnings-growth ratio of 1.07 and a beta of 1.18. The company has a quick ratio of 2.31, a current ratio of 2.77 and a debt-to-equity ratio of 0.64.

Southern Copper Announces Dividend

The firm also recently announced a -- dividend, which will be paid on Thursday, November 21st. Stockholders of record on Wednesday, November 6th will be paid 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 (DPR) is currently 72.09%.

Wall Street Analyst Weigh In

SCCO has been the subject of a number of recent analyst reports. Citigroup boosted their target price on Southern Copper from $99.44 to $100.00 and gave the stock a "sell" rating in a research report on Wednesday, October 2nd. Scotiabank dropped their price target on Southern Copper from $54.00 to $52.00 and set a "sector underperform" rating for the company in a research note on Tuesday, October 15th. Finally, Morgan Stanley increased their target price on Southern Copper from $97.00 to $100.00 and gave the company an "underweight" rating in a research report on Thursday, September 19th. Six investment analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Southern Copper has an average rating of "Hold" and a consensus target price of $90.63.

Southern Copper Company 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.