Skandinaviska Enskilda Banken AB publ Sells 161,457 Shares of Southern Copper Co. (NYSE:SCCO)

Skandinaviska Enskilda Banken AB publ cut its holdings in Southern Copper Co. (NYSE:SCCOFree Report) by 61.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 99,568 shares of the basic materials company’s stock after selling 161,457 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Southern Copper were worth $7,496,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Hartford Financial Management Inc. bought a new position in shares of Southern Copper during the 3rd quarter valued at $25,000. Sanctuary Wealth Management L.L.C. bought a new position in shares of Southern Copper during the 4th quarter valued at $27,000. Loomis Sayles & Co. L P bought a new position in shares of Southern Copper during the 1st quarter valued at $29,000. Ronald Blue Trust Inc. lifted its holdings in shares of Southern Copper by 43.7% during the 3rd quarter. Ronald Blue Trust Inc. now owns 602 shares of the basic materials company’s stock valued at $44,000 after buying an additional 183 shares during the period. Finally, Penserra Capital Management LLC bought a new position in shares of Southern Copper during the 1st quarter valued at $46,000. 7.40% of the stock is owned by institutional investors.

Southern Copper Trading Down 1.0 %

SCCO opened at $80.16 on Monday. The firm has a market cap of $61.97 billion, a P/E ratio of 25.53 and a beta of 1.29. Southern Copper Co. has a 12 month low of $64.66 and a 12 month high of $88.40. The company has a current ratio of 3.70, a quick ratio of 2.94 and a debt-to-equity ratio of 0.80. The stock has a 50-day moving average of $81.81 and a 200 day moving average of $78.34.

Southern Copper Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 29th. Investors of record on Tuesday, February 13th will be given a $0.80 dividend. The ex-dividend date is Monday, February 12th. This represents a $3.20 annualized dividend and a yield of 3.99%. Southern Copper’s dividend payout ratio is currently 127.39%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on SCCO shares. StockNews.com lowered Southern Copper from a “buy” rating to a “hold” rating in a research report on Monday, February 5th. Morgan Stanley lowered Southern Copper from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $83.00 to $68.00 in a research report on Monday, November 27th. Four research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $64.50.

Get Our Latest Report on Southern Copper

Southern Copper Company Profile

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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.

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Institutional Ownership by Quarter for Southern Copper (NYSE:SCCO)

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