UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Reduces Position in Southern Copper Co. (NYSE:SCCO)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its holdings in shares of Southern Copper Co. (NYSE:SCCO - Free Report) by 7.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,201,517 shares of the basic materials company's stock after selling 103,694 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.15% of Southern Copper worth $138,979,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Creative Financial Designs Inc. ADV boosted its position in Southern Copper by 172.0% during the third quarter. Creative Financial Designs Inc. ADV now owns 223 shares of the basic materials company's stock valued at $26,000 after purchasing an additional 141 shares during the last quarter. Itau Unibanco Holding S.A. bought a new position in Southern Copper in the 2nd quarter valued at about $31,000. McClarren Financial Advisors Inc. lifted its stake in Southern Copper by 169.2% in the third quarter. McClarren Financial Advisors Inc. now owns 288 shares of the basic materials company's stock valued at $33,000 after purchasing an additional 181 shares during the last quarter. Oakworth Capital Inc. purchased a new stake in shares of Southern Copper in the third quarter worth about $42,000. Finally, Prospera Private Wealth LLC bought a new position in shares of Southern Copper during the 3rd quarter valued at $47,000. 7.94% of the stock is owned by institutional investors and hedge funds.

Southern Copper Price Performance

NYSE:SCCO traded down $0.30 during trading hours on Monday, hitting $100.05. 803,507 shares of the company's stock traded hands, compared to its average volume of 1,132,330. The business's fifty day simple moving average is $110.08 and its two-hundred day simple moving average is $108.28. Southern Copper Co. has a 52 week low of $70.92 and a 52 week high of $129.79. 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 firm has a market cap of $78.59 billion, a P/E ratio of 25.79, a P/E/G ratio of 1.55 and a beta of 1.18.

Southern Copper Announces Dividend

The firm also recently declared a -- dividend, which was paid on Thursday, November 21st. Investors of record on Wednesday, November 6th were given a dividend of $0.62 per share. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a yield of 2.1%. Southern Copper's dividend payout ratio (DPR) is currently 72.16%.

Analysts Set New Price Targets

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