Two Sigma Advisers LP Increases Stock Holdings in Southern Copper Co. (NYSE:SCCO)

Two Sigma Advisers LP lifted its position in Southern Copper Co. (NYSE:SCCO - Free Report) by 384.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 90,173 shares of the basic materials company's stock after buying an additional 71,558 shares during the period. Two Sigma Advisers LP's holdings in Southern Copper were worth $10,430,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. grew its position in Southern Copper by 7.2% during the 3rd 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. Gateway Advisory LLC purchased a new stake in Southern Copper during the 2nd quarter worth approximately $625,000. BNP Paribas Financial Markets grew its position in Southern Copper by 1,601.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 192,571 shares of the basic materials company's stock worth $22,275,000 after purchasing an additional 181,252 shares during the last quarter. Morse Asset Management Inc purchased a new stake in Southern Copper during the 3rd quarter worth approximately $1,397,000. Finally, Citigroup Inc. grew its position in Southern Copper by 3.3% during the 3rd quarter. Citigroup Inc. now owns 199,978 shares of the basic materials company's stock worth $23,131,000 after purchasing an additional 6,436 shares during the last quarter. Hedge funds and other institutional investors own 7.94% of the company's stock.

Analyst Upgrades and Downgrades

SCCO has been the topic of several research analyst reports. Citigroup boosted their target price on shares of Southern Copper from $99.44 to $100.00 and gave the stock a "sell" rating in a research report on Wednesday, October 2nd. Morgan Stanley lifted their price objective on shares of Southern Copper from $97.00 to $100.00 and gave the company an "underweight" rating in a research note on Thursday, September 19th. JPMorgan Chase & Co. upgraded shares of Southern Copper from an "underweight" rating to a "neutral" rating and set a $92.50 price objective for the company in a research note on Monday, December 2nd. Finally, Scotiabank decreased their price objective on shares of 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. Five analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Southern Copper has an average rating of "Hold" and an average target price of $94.56.

Southern Copper Price Performance

NYSE SCCO traded down $3.02 on Tuesday, hitting $102.52. The company had a trading volume of 1,059,394 shares, compared to its average volume of 1,125,748. The company has a market capitalization of $80.53 billion, a PE ratio of 26.42, a PEG ratio of 1.56 and a beta of 1.14. The company's fifty day moving average price is $108.55 and its 200-day moving average price is $107.40. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.77 and a quick ratio of 2.31. Southern Copper Co. has a 12-month low of $73.18 and a 12-month high of $129.79.

Southern Copper Dividend Announcement

The business also recently declared a -- dividend, which was paid on Thursday, November 21st. Investors of record on Wednesday, November 6th were issued 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 presently 72.16%.

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.