Geode Capital Management LLC Raises Stock Holdings in Southern Copper Co. (NYSE:SCCO)

Geode Capital Management LLC increased its stake in shares of Southern Copper Co. (NYSE:SCCO - Free Report) by 3.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 613,286 shares of the basic materials company's stock after acquiring an additional 20,204 shares during the quarter. Geode Capital Management LLC owned approximately 0.08% of Southern Copper worth $70,437,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Southern Copper by 7.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 230,495 shares of the basic materials company's stock worth $26,661,000 after purchasing an additional 15,386 shares during the last quarter. Two Sigma Advisers LP grew its position in shares of Southern Copper by 384.4% in the 3rd quarter. Two Sigma Advisers LP now owns 90,173 shares of the basic materials company's stock worth $10,430,000 after buying an additional 71,558 shares during the last quarter. Morse Asset Management Inc bought a new stake in shares of Southern Copper in the 3rd quarter worth approximately $1,397,000. Gateway Advisory LLC purchased a new position in shares of Southern Copper during the second quarter valued at approximately $625,000. Finally, BNP Paribas Financial Markets raised its holdings in shares of 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 acquiring an additional 181,252 shares in the last quarter. Institutional investors own 7.94% of the company's stock.

Southern Copper Stock Up 1.1 %

Shares of SCCO traded up $1.03 during mid-day trading on Friday, reaching $93.01. The company had a trading volume of 998,545 shares, compared to its average volume of 1,116,539. 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 $73.06 billion, a price-to-earnings ratio of 23.95, a price-to-earnings-growth ratio of 1.56 and a beta of 1.14. The firm has a 50-day moving average price of $105.20 and a 200 day moving average price of $106.23. Southern Copper Co. has a 52 week low of $77.14 and a 52 week high of $129.79.

Southern Copper Announces Dividend

The company also recently declared a -- dividend, which was paid on Thursday, November 21st. Investors of record on Wednesday, November 6th were paid a $0.62 dividend. This represents a yield of 2.1%. The ex-dividend date was Wednesday, November 6th. Southern Copper's payout ratio is 72.16%.

Analysts Set New Price Targets

SCCO has been the topic of a number of research analyst reports. Citigroup boosted their price objective on shares of Southern Copper from $99.44 to $100.00 and gave the company a "sell" rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. raised shares of Southern Copper from an "underweight" rating to a "neutral" rating and set a $92.50 price target for the company in a research note on Monday, December 2nd. Morgan Stanley raised Southern Copper from an "underweight" rating to an "equal weight" rating and cut their price objective for the company from $106.30 to $102.00 in a research report on Thursday, December 12th. Finally, Scotiabank reduced their target price on Southern Copper from $54.00 to $52.00 and set a "sector underperform" rating on the stock in a report on Tuesday, October 15th. Four research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, Southern Copper currently has an average rating of "Hold" and a consensus price target of $94.81.

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.