Y Intercept Hong Kong Ltd Sells 23,355 Shares of Southern Copper Co. (NYSE:SCCO)

Y Intercept Hong Kong Ltd decreased its holdings in shares of Southern Copper Co. (NYSE:SCCO - Free Report) by 79.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,880 shares of the basic materials company's stock after selling 23,355 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Southern Copper were worth $680,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Orion Portfolio Solutions LLC grew its stake in shares of Southern Copper by 2.7% in the third quarter. Orion Portfolio Solutions LLC now owns 16,751 shares of the basic materials company's stock valued at $1,938,000 after acquiring an additional 441 shares in the last quarter. XTX Topco Ltd increased its stake in shares of Southern Copper by 48.4% in the 3rd quarter. XTX Topco Ltd now owns 28,098 shares of the basic materials company's stock valued at $3,250,000 after purchasing an additional 9,167 shares during the last quarter. Wahed Invest LLC raised its stake in Southern Copper by 17.1% during the third quarter. Wahed Invest LLC now owns 2,104 shares of the basic materials company's stock worth $243,000 after acquiring an additional 308 shares in the last quarter. Two Sigma Advisers LP lifted its stake in Southern Copper by 384.4% in the 3rd quarter. Two Sigma Advisers LP now owns 90,173 shares of the basic materials company's stock valued at $10,430,000 after purchasing an additional 71,558 shares during the last quarter. Finally, Temasek Holdings Private Ltd boosted its holdings in shares of Southern Copper by 44.2% during the 3rd quarter. Temasek Holdings Private Ltd now owns 338,617 shares of the basic materials company's stock valued at $39,168,000 after acquiring an additional 103,852 shares in the last quarter. Institutional investors own 7.94% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on SCCO shares. Morgan Stanley raised shares of Southern Copper from an "underweight" rating to an "equal weight" rating and reduced their target price for the stock from $106.30 to $102.00 in a report on Thursday. Citigroup increased their price target on Southern Copper from $99.44 to $100.00 and gave the stock a "sell" rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. raised Southern Copper from an "underweight" rating to a "neutral" rating and set a $92.50 target price for the company in a research report on Monday, December 2nd. Finally, Scotiabank dropped 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 research note on Tuesday, October 15th. Four 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $94.81.

Southern Copper Stock Performance

SCCO traded down $1.53 during trading on Friday, hitting $100.00. 710,676 shares of the company traded hands, compared to its average volume of 1,120,740. Southern Copper Co. has a one year low of $77.14 and a one year high of $129.79. The stock's fifty day moving average is $107.35 and its 200 day moving average is $107.01. The firm has a market cap of $78.55 billion, a P/E ratio of 25.77, a price-to-earnings-growth ratio of 1.61 and a beta of 1.14. The company has a quick ratio of 2.31, a current ratio of 2.77 and a debt-to-equity ratio of 0.64.

Southern Copper Dividend Announcement

The company also recently announced a -- dividend, which was paid on Thursday, November 21st. Shareholders of record on Wednesday, November 6th were given a $0.62 dividend. This represents a yield of 2.1%. The ex-dividend date was Wednesday, November 6th. Southern Copper's dividend payout ratio is currently 72.16%.

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.