Quantinno Capital Management LP Boosts Stock Position in Southern Copper Co. (NYSE:SCCO)

Quantinno Capital Management LP boosted its holdings in shares of Southern Copper Co. (NYSE:SCCO) by 9.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,424 shares of the basic materials company’s stock after purchasing an additional 753 shares during the quarter. Quantinno Capital Management LP’s holdings in Southern Copper were worth $975,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. Quarry LP purchased a new stake in Southern Copper during the third quarter valued at approximately $120,000. Royal London Asset Management Ltd. boosted its stake in Southern Copper by 0.6% during the third quarter. Royal London Asset Management Ltd. now owns 43,381 shares of the basic materials company’s stock worth $5,018,000 after buying an additional 241 shares during the period. Morse Asset Management Inc bought a new position in Southern Copper during the third quarter valued at $1,397,000. Integrated Wealth Concepts LLC increased its position in Southern Copper by 2.9% during the third quarter. Integrated Wealth Concepts LLC now owns 8,797 shares of the basic materials company’s stock valued at $1,018,000 after acquiring an additional 250 shares during the last quarter. Finally, Itau Unibanco Holding S.A. raised its stake in shares of Southern Copper by 115,910.7% in the third quarter. Itau Unibanco Holding S.A. now owns 336,431 shares of the basic materials company’s stock valued at $38,915,000 after acquiring an additional 336,141 shares during the period. Institutional investors own 7.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Scotiabank dropped their price target 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. Citigroup upped their target price on Southern Copper from $99.44 to $100.00 and gave the company a “sell” rating in a research note 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 research note on Monday, December 2nd. Finally, Morgan Stanley raised Southern Copper from an “underweight” rating to an “equal weight” rating and cut their price objective for the company from $106.30 to $102.00 in a research report on Thursday. Four research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $94.81.

Southern Copper Price Performance

SCCO opened at $100.00 on Friday. The company has a current ratio of 2.77, a quick ratio of 2.31 and a debt-to-equity ratio of 0.64. The business’s fifty day simple moving average is $107.35 and its 200-day simple moving average is $107.11. The company has a market capitalization of $78.55 billion, a price-to-earnings ratio of 25.77, a PEG ratio of 1.61 and a beta of 1.14. Southern Copper Co. has a 12-month low of $77.14 and a 12-month high of $129.79.

Southern Copper Dividend Announcement

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