XTX Topco Ltd Grows Stock Holdings in Southern Copper Co. (NYSE:SCCO)

XTX Topco Ltd boosted its stake in shares of Southern Copper Co. (NYSE:SCCO) by 48.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 28,098 shares of the basic materials company’s stock after purchasing an additional 9,167 shares during the quarter. XTX Topco Ltd’s holdings in Southern Copper were worth $3,250,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC grew its stake in Southern Copper by 1,300.4% in the 2nd quarter. Los Angeles Capital Management LLC now owns 443,285 shares of the basic materials company’s stock valued at $47,760,000 after acquiring an additional 411,630 shares during the last quarter. Itau Unibanco Holding S.A. grew its position 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 purchasing an additional 336,141 shares during the last quarter. Fisher Asset Management LLC increased its stake in shares of 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 purchasing an additional 283,562 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of Southern Copper by 11,510.5% during the 3rd quarter. International Assets Investment Management LLC now owns 189,716 shares of the basic materials company’s stock worth $21,944,000 after purchasing an additional 188,082 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its position in shares of Southern Copper by 1,601.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 192,571 shares of the basic materials company’s stock worth $22,275,000 after purchasing an additional 181,252 shares during the last quarter. 7.94% of the stock is owned by hedge funds and other institutional investors.

Southern Copper Trading Down 1.1 %

NYSE SCCO opened at $100.05 on Friday. The company has a 50-day moving average of $109.13 and a 200-day moving average of $107.88. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.77 and a quick ratio of 2.31. Southern Copper Co. has a 12 month low of $70.92 and a 12 month high of $129.79. The company has a market cap of $78.59 billion, a P/E ratio of 25.76, a P/E/G ratio of 1.57 and a beta of 1.14.

Southern Copper Dividend Announcement

The firm also recently disclosed a — dividend, which was paid on Thursday, November 21st. Stockholders of record on Wednesday, November 6th were given a $0.62 dividend. This represents a dividend yield of 2.1%. The ex-dividend date was Wednesday, November 6th. Southern Copper’s payout ratio is currently 72.09%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Citigroup raised 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. Morgan Stanley lifted their price objective on Southern Copper from $97.00 to $100.00 and gave the stock an “underweight” rating in a research report on Thursday, September 19th. JPMorgan Chase & Co. raised shares of Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 target price for the company in a research note on Monday, December 2nd. Finally, Scotiabank decreased their price target 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. Five investment analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, Southern Copper has an average rating of “Hold” and a consensus target price of $94.56.

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.