Southern Copper Co. (NYSE:SCCO) Shares Acquired by State Street Corp

State Street Corp increased its position in shares of Southern Copper Co. (NYSE:SCCO - Free Report) by 1.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,728,802 shares of the basic materials company's stock after buying an additional 27,358 shares during the quarter. State Street Corp owned about 0.35% of Southern Copper worth $315,641,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Fisher Asset Management LLC raised its position in Southern Copper by 10.6% in the third 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 raised its holdings in Southern Copper by 3.3% in 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 buying an additional 32,314 shares during the period. Marathon Asset Management Ltd lifted its position in 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 last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Southern Copper by 0.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 630,579 shares of the basic materials company's stock valued at $67,939,000 after acquiring an additional 4,580 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its stake in shares of Southern Copper by 21.7% in the 3rd quarter. Los Angeles Capital Management LLC now owns 539,495 shares of the basic materials company's stock valued at $62,403,000 after acquiring an additional 96,210 shares during the period. Hedge funds and other institutional investors own 7.94% of the company's stock.

Southern Copper Stock Up 1.1 %

SCCO stock traded up $1.08 during midday trading on Wednesday, reaching $103.60. 533,197 shares of the company were exchanged, compared to its average volume of 1,122,812. The stock's 50-day simple moving average is $108.26 and its 200 day simple moving average is $107.29. Southern Copper Co. has a 1-year low of $73.78 and a 1-year high of $129.79. 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 cap of $81.38 billion, a price-to-earnings ratio of 26.32, 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. Shareholders of record on Wednesday, November 6th were paid a $0.62 dividend. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a yield of 2.1%. Southern Copper's dividend payout ratio is presently 72.16%.

Wall Street Analysts Forecast Growth

SCCO has been the subject of several research reports. Scotiabank dropped their target price on shares of Southern Copper from $54.00 to $52.00 and set a "sector underperform" rating for the company in a report 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 on the stock in a research note on Monday, December 2nd. Citigroup raised their price objective on shares of Southern Copper from $99.44 to $100.00 and gave the company a "sell" rating in a research note on Wednesday, October 2nd. Finally, Morgan Stanley upped their target price on shares of Southern Copper from $97.00 to $100.00 and gave the stock an "underweight" rating in a research note 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, Southern Copper has an average rating of "Hold" and a consensus target price of $94.56.

About Southern Copper

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.