Jacobs Levy Equity Management Inc. Sells 256,280 Shares of Southern Copper Co. (NYSE:SCCO)

Jacobs Levy Equity Management Inc. trimmed its position in Southern Copper Co. (NYSE:SCCO) by 77.8% in the 3rd quarter, Holdings Channel.com reports. The fund owned 72,993 shares of the basic materials company’s stock after selling 256,280 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Southern Copper were worth $8,443,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Fisher Asset Management LLC lifted its position in Southern Copper by 10.6% during the 3rd quarter. Fisher Asset Management LLC now owns 2,963,572 shares of the basic materials company’s stock worth $342,796,000 after acquiring an additional 283,562 shares during the period. Empower Advisory Group LLC lifted its holdings in shares of Southern Copper by 3.3% during the third quarter. Empower Advisory Group LLC now owns 1,004,060 shares of the basic materials company’s stock worth $116,140,000 after purchasing an additional 32,314 shares during the period. Marathon Asset Management Ltd boosted 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 holdings in Southern Copper by 0.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 630,579 shares of the basic materials company’s stock worth $67,939,000 after buying an additional 4,580 shares during the period. Finally, Los Angeles Capital Management LLC raised its position in Southern Copper by 21.7% during the 3rd quarter. Los Angeles Capital Management LLC now owns 539,495 shares of the basic materials company’s stock worth $62,403,000 after buying an additional 96,210 shares during the last quarter. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on SCCO. Citigroup increased their price target on Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. raised Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price target for the company in a report on Monday. 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. Finally, Morgan Stanley upped their price target on Southern Copper from $97.00 to $100.00 and gave the stock an “underweight” rating in a report on Thursday, September 19th. Five equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $94.56.

Southern Copper Stock Down 0.1 %

Shares of NYSE SCCO opened at $101.10 on Friday. The firm has a market cap of $79.42 billion, a price-to-earnings ratio of 26.06, a PEG ratio of 1.57 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. The business’s 50 day moving average is $109.13 and its two-hundred day moving average is $107.88. Southern Copper Co. has a 52-week low of $70.92 and a 52-week high of $129.79.

Southern Copper Dividend Announcement

The business also recently disclosed a — dividend, which was paid on Thursday, November 21st. Stockholders of record on Wednesday, November 6th were given a dividend of $0.62 per share. This represents a dividend 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.