Barclays PLC Has $5.56 Million Position in Southern Copper Co. (NYSE:SCCO)

Barclays PLC lowered its holdings in Southern Copper Co. (NYSE:SCCO - Free Report) by 21.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 48,101 shares of the basic materials company's stock after selling 13,214 shares during the quarter. Barclays PLC's holdings in Southern Copper were worth $5,563,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in SCCO. Highland Capital Management LLC acquired a new stake in shares of Southern Copper in the 2nd quarter valued at $1,106,000. Bank of New York Mellon Corp increased its holdings in shares of Southern Copper by 11.2% during the second quarter. Bank of New York Mellon Corp now owns 276,902 shares of the basic materials company's stock worth $29,833,000 after buying an additional 27,921 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Southern Copper by 0.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 630,579 shares of the basic materials company's stock valued at $67,939,000 after acquiring an additional 4,580 shares during the last quarter. Atomi Financial Group Inc. boosted its holdings in shares of Southern Copper by 11.9% in the 2nd quarter. Atomi Financial Group Inc. now owns 9,070 shares of the basic materials company's stock worth $977,000 after acquiring an additional 967 shares in the last quarter. Finally, Klein Pavlis & Peasley Financial Inc. grew its position in Southern Copper by 2.8% during the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 36,691 shares of the basic materials company's stock worth $3,953,000 after acquiring an additional 986 shares during the last quarter. Institutional investors and hedge funds own 7.94% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on SCCO shares. Citigroup boosted their price objective on Southern Copper from $99.44 to $100.00 and gave the stock a "sell" rating in a research note on Wednesday, October 2nd. Scotiabank dropped their target price on shares of 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. JPMorgan Chase & Co. raised shares of Southern Copper from an "underweight" rating to a "neutral" rating and set a $92.50 price target on the stock in a research note on Monday, December 2nd. Finally, Morgan Stanley upgraded shares of Southern Copper from an "underweight" rating to an "equal weight" rating and dropped their price objective for the stock from $106.30 to $102.00 in a research report on Thursday, December 12th. Four analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Southern Copper has an average rating of "Hold" and an average target price of $94.81.

Southern Copper Stock Up 1.1 %

Shares of NYSE SCCO traded up $1.03 during midday trading on Friday, reaching $93.01. The company's stock had a trading volume of 998,545 shares, compared to its average volume of 1,116,539. The company has a current ratio of 2.77, a quick ratio of 2.31 and a debt-to-equity ratio of 0.64. Southern Copper Co. has a fifty-two week low of $77.14 and a fifty-two week high of $129.79. The stock has a 50 day simple moving average of $105.20 and a 200-day simple moving average of $106.26. The stock has a market capitalization of $73.06 billion, a price-to-earnings ratio of 23.95, a PEG ratio of 1.56 and a beta of 1.14.

Southern Copper Dividend Announcement

The company also recently disclosed 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 presently 72.16%.

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.