Nordea Investment Management AB Raises Stock Holdings in Southern Copper Co. (NYSE:SCCO)

Nordea Investment Management AB lifted its position in shares of Southern Copper Co. (NYSE:SCCO - Free Report) by 15.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 108,753 shares of the basic materials company's stock after purchasing an additional 14,391 shares during the period. Nordea Investment Management AB's holdings in Southern Copper were worth $9,969,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Fisher Asset Management LLC grew 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 acquiring an additional 283,562 shares during the period. State Street Corp lifted its stake in Southern Copper by 1.0% in the third quarter. State Street Corp now owns 2,728,802 shares of the basic materials company's stock valued at $315,641,000 after purchasing an additional 27,358 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Southern Copper by 74.6% during the third quarter. JPMorgan Chase & Co. now owns 1,402,983 shares of the basic materials company's stock valued at $162,283,000 after purchasing an additional 599,610 shares during the period. Empower Advisory Group LLC increased its position in Southern Copper by 3.3% in the third quarter. Empower Advisory Group LLC now owns 1,004,060 shares of the basic materials company's stock worth $116,140,000 after buying an additional 32,314 shares during the last quarter. Finally, Marathon Asset Management Ltd raised its stake in shares of Southern Copper by 2.9% in the third quarter. Marathon Asset Management Ltd now owns 788,672 shares of the basic materials company's stock valued at $91,226,000 after buying an additional 22,437 shares during the period. 7.94% of the stock is currently owned by hedge funds and other institutional investors.

Southern Copper Price Performance

Shares of SCCO stock traded down $1.02 during trading hours on Friday, reaching $94.58. The stock had a trading volume of 985,916 shares, compared to its average volume of 946,169. The stock's fifty day simple moving average is $99.25 and its 200 day simple moving average is $104.64. The company has a current ratio of 2.77, a quick ratio of 2.31 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $74.30 billion, a PE ratio of 24.35, a PEG ratio of 1.56 and a beta of 1.14. Southern Copper Co. has a 12 month low of $77.14 and a 12 month high of $129.79.

Southern Copper Dividend Announcement

The company also recently declared a -- dividend, which was paid on Thursday, November 21st. Stockholders of record on Wednesday, November 6th were given 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 (DPR) is currently 72.16%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on SCCO shares. JPMorgan Chase & Co. upgraded 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 upgraded shares of Southern Copper from an "underweight" rating to an "equal weight" rating and cut their target price for the stock from $106.30 to $102.00 in a research report on Thursday, December 12th. Citigroup lifted their target price on shares of Southern Copper from $99.44 to $100.00 and gave the stock a "sell" rating in a research note on Wednesday, October 2nd. Finally, Scotiabank dropped their price target on shares of Southern Copper from $54.00 to $52.00 and set a "sector underperform" rating on the stock in a research note on Tuesday, October 15th. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, Southern Copper currently has a consensus rating of "Hold" and a consensus target price of $94.81.

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.