Southern Copper Co. (NYSE:SCCO) Shares Sold by Fmr LLC

FMR LLC lowered its position in Southern Copper Co. (NYSE:SCCO - Free Report) by 69.2% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 16,212 shares of the basic materials company's stock after selling 36,438 shares during the period. FMR LLC's holdings in Southern Copper were worth $1,875,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of SCCO. Ensign Peak Advisors Inc lifted its stake in shares of Southern Copper by 1.0% in the 2nd quarter. Ensign Peak Advisors Inc now owns 10,558 shares of the basic materials company's stock valued at $1,138,000 after purchasing an additional 108 shares during the last quarter. Prudential PLC boosted its holdings in Southern Copper by 1.0% in the second quarter. Prudential PLC now owns 10,667 shares of the basic materials company's stock valued at $1,149,000 after purchasing an additional 109 shares during the period. Tyche Wealth Partners LLC grew its stake in Southern Copper by 0.6% during the 3rd quarter. Tyche Wealth Partners LLC now owns 19,685 shares of the basic materials company's stock worth $2,277,000 after purchasing an additional 109 shares in the last quarter. Greenwood Capital Associates LLC raised its position in Southern Copper by 0.7% in the 3rd quarter. Greenwood Capital Associates LLC now owns 15,722 shares of the basic materials company's stock valued at $1,819,000 after purchasing an additional 112 shares in the last quarter. Finally, Inspire Advisors LLC raised its position in Southern Copper by 3.9% in the 3rd quarter. Inspire Advisors LLC now owns 3,001 shares of the basic materials company's stock valued at $347,000 after purchasing an additional 113 shares in the last quarter. Hedge funds and other institutional investors own 7.94% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on SCCO. JPMorgan Chase & Co. raised Southern Copper from an "underweight" rating to a "neutral" rating and set a $92.50 price objective for the company in a research report on Monday, December 2nd. Citigroup upped their price target on Southern Copper from $99.44 to $100.00 and gave the company a "sell" rating in a report on Wednesday, October 2nd. Scotiabank cut their price objective 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. Finally, Morgan Stanley upgraded shares of Southern Copper from an "underweight" rating to an "equal weight" rating and lowered their target price for the company from $106.30 to $102.00 in a report on Thursday. Four research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, Southern Copper has an average rating of "Hold" and a consensus target price of $94.81.

Southern Copper Stock Performance

NYSE SCCO traded down $2.67 during trading hours on Monday, hitting $97.33. 824,142 shares of the stock were exchanged, compared to its average volume of 1,119,514. The company has a quick ratio of 2.31, a current ratio of 2.77 and a debt-to-equity ratio of 0.64. The stock has a 50-day moving average of $107.35 and a 200 day moving average of $106.92. Southern Copper Co. has a 12-month low of $77.14 and a 12-month high of $129.79. The company has a market cap of $76.46 billion, a price-to-earnings ratio of 25.75, a price-to-earnings-growth ratio of 1.56 and a beta of 1.14.

Southern Copper Dividend Announcement

The business 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. This represents a yield of 2.1%. The ex-dividend date of this dividend was Wednesday, November 6th. Southern Copper's dividend payout ratio is currently 72.09%.

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.