Fisher Asset Management LLC Has $342.80 Million Stake in Southern Copper Co. (NYSE:SCCO)

Fisher Asset Management LLC grew its position in Southern Copper Co. (NYSE:SCCO) by 10.6% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,963,572 shares of the basic materials company’s stock after purchasing an additional 283,562 shares during the quarter. Fisher Asset Management LLC’s holdings in Southern Copper were worth $342,796,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Los Angeles Capital Management LLC boosted its stake in Southern Copper by 1,300.4% in the second quarter. Los Angeles Capital Management LLC now owns 443,285 shares of the basic materials company’s stock valued at $47,760,000 after buying an additional 411,630 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of Southern Copper by 11,510.5% in the 3rd quarter. International Assets Investment Management LLC now owns 189,716 shares of the basic materials company’s stock valued at $21,944,000 after purchasing an additional 188,082 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Southern Copper during the 2nd quarter valued at approximately $11,142,000. Van ECK Associates Corp grew its holdings in shares of Southern Copper by 30.2% during the 2nd quarter. Van ECK Associates Corp now owns 297,536 shares of the basic materials company’s stock valued at $32,057,000 after purchasing an additional 68,944 shares during the last quarter. Finally, Decade Renewable Partners LP acquired a new position in Southern Copper during the 2nd quarter worth approximately $6,755,000. Institutional investors own 7.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SCCO. Citigroup upped their price target on shares of Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a report on Wednesday, October 2nd. Morgan Stanley upped their price target on shares of Southern Copper from $97.00 to $100.00 and gave the company an “underweight” rating in a research report on Thursday, September 19th. Finally, Scotiabank cut 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 report on Tuesday, October 15th. Six equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $90.63.

Southern Copper Stock Performance

SCCO stock opened at $99.74 on Monday. The firm has a market cap of $78.35 billion, a PE ratio of 25.68, a price-to-earnings-growth ratio of 1.03 and a beta of 1.18. 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 stock has a 50-day moving average price of $110.24 and a 200-day moving average price of $109.01. Southern Copper Co. has a 1-year low of $70.63 and a 1-year 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 issued a $0.62 dividend. The ex-dividend date was Wednesday, November 6th. This represents a yield of 2.1%. Southern Copper’s payout ratio is currently 72.09%.

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.