Jacobs Levy Equity Management Inc. Has $8.44 Million Holdings in Southern Copper Co. (NYSE:SCCO)

Jacobs Levy Equity Management Inc. reduced its holdings in Southern Copper Co. (NYSE:SCCO - Free Report) by 77.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 72,993 shares of the basic materials company's stock after selling 256,280 shares during the quarter. Jacobs Levy Equity Management Inc.'s holdings in Southern Copper were worth $8,443,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Fisher Asset Management LLC increased its position 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 valued at $342,796,000 after purchasing an additional 283,562 shares during the period. Empower Advisory Group LLC increased its position in shares of Southern Copper by 3.3% during the 3rd quarter. Empower Advisory Group LLC now owns 1,004,060 shares of the basic materials company's stock valued at $116,140,000 after purchasing an additional 32,314 shares during the period. Marathon Asset Management Ltd increased its position in shares of Southern Copper by 2.9% during the 3rd quarter. Marathon Asset Management Ltd now owns 788,672 shares of the basic materials company's stock valued at $91,226,000 after purchasing an additional 22,437 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Southern Copper by 0.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 630,579 shares of the basic materials company's stock worth $67,939,000 after acquiring an additional 4,580 shares in the last quarter. Finally, Los Angeles Capital Management LLC boosted its stake in shares of Southern Copper by 21.7% during the 3rd quarter. Los Angeles Capital Management LLC now owns 539,495 shares of the basic materials company's stock worth $62,403,000 after acquiring an additional 96,210 shares in the last quarter. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Southern Copper Stock Down 1.1 %

Shares of NYSE:SCCO traded down $1.07 during midday trading on Friday, hitting $100.05. 580,904 shares of the stock were exchanged, compared to its average volume of 1,124,625. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.77. Southern Copper Co. has a 52-week low of $70.92 and a 52-week high of $129.79. The business's fifty day simple moving average is $109.13 and its two-hundred day simple moving average is $107.88. The company has a market capitalization of $78.59 billion, a PE ratio of 25.77, a P/E/G ratio of 1.57 and a beta of 1.14.

Southern Copper Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Citigroup raised 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 reduced their price objective 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. JPMorgan Chase & Co. raised Southern Copper from an "underweight" rating to a "neutral" rating and set a $92.50 target price for the company in a research report on Monday. Finally, Morgan Stanley raised their target price on Southern Copper from $97.00 to $100.00 and gave the stock an "underweight" rating in a research report on Thursday, September 19th. Five research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $94.56.

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.