Southern Copper Co. (NYSE:SCCO) Stock Position Reduced by Edgestream Partners L.P.

Edgestream Partners L.P. reduced its holdings in Southern Copper Co. (NYSE:SCCO - Free Report) by 24.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,138 shares of the basic materials company's stock after selling 12,683 shares during the quarter. Edgestream Partners L.P.'s holdings in Southern Copper were worth $4,527,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in SCCO. Los Angeles Capital Management LLC increased its position in Southern Copper by 1,300.4% during the second quarter. Los Angeles Capital Management LLC now owns 443,285 shares of the basic materials company's stock worth $47,760,000 after purchasing an additional 411,630 shares during the last quarter. Fisher Asset Management LLC grew its holdings in shares of Southern Copper by 10.6% during the 3rd quarter. Fisher Asset Management LLC now owns 2,963,572 shares of the basic materials company's stock worth $342,796,000 after purchasing an additional 283,562 shares during the period. International Assets Investment Management LLC increased its position in Southern Copper by 11,510.5% during 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 purchasing an additional 188,082 shares in the last quarter. BNP Paribas Financial Markets lifted its position in Southern Copper by 1,601.3% during the third quarter. BNP Paribas Financial Markets now owns 192,571 shares of the basic materials company's stock valued at $22,275,000 after buying an additional 181,252 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in Southern Copper during the second quarter worth approximately $11,142,000. 7.94% of the stock is owned by institutional investors and hedge funds.

Southern Copper Stock Up 0.6 %

Shares of NYSE:SCCO traded up $0.64 during trading on Friday, hitting $100.35. The company's stock had a trading volume of 431,715 shares, compared to its average volume of 865,629. Southern Copper Co. has a fifty-two week low of $70.92 and a fifty-two week high of $129.79. The stock's 50-day moving average price is $110.08 and its two-hundred day moving average price is $108.28. 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 company has a market capitalization of $78.83 billion, a PE ratio of 25.86, a PEG ratio of 1.55 and a beta of 1.18.

Southern Copper Dividend Announcement

The firm also recently announced a -- dividend, which was paid on Thursday, November 21st. Stockholders of record on Wednesday, November 6th were paid a dividend of $0.62 per share. 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 72.16%.

Analyst Ratings Changes

Several research firms recently weighed in on SCCO. Scotiabank reduced their target price on shares of Southern Copper from $54.00 to $52.00 and set a "sector underperform" rating on the stock in a report on Tuesday, October 15th. Morgan Stanley boosted 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. Finally, Citigroup raised their target price on Southern Copper from $99.44 to $100.00 and gave the company a "sell" rating in a report on Wednesday, October 2nd. Six analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $90.63.

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.