IndexIQ Advisors LLC boosted its stake in shares of Southern Copper Corporation (NYSE:SCCO) by 752.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 91,183 shares of the basic materials company’s stock after acquiring an additional 80,491 shares during the quarter. IndexIQ Advisors LLC’s holdings in Southern Copper Corporation were worth $3,626,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Southern Copper Corporation by 3.6% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,820 shares of the basic materials company’s stock valued at $202,000 after buying an additional 200 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Southern Copper Corporation by 3.8% during the first quarter. PNC Financial Services Group Inc. now owns 9,827 shares of the basic materials company’s stock valued at $353,000 after buying an additional 359 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of Southern Copper Corporation by 7.1% during the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 7,507 shares of the basic materials company’s stock valued at $260,000 after buying an additional 500 shares during the period. Waverton Investment Management Ltd boosted its position in shares of Southern Copper Corporation by 3.8% during the second quarter. Waverton Investment Management Ltd now owns 14,446 shares of the basic materials company’s stock valued at $500,000 after buying an additional 528 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Southern Copper Corporation by 0.3% during the second quarter. Dimensional Fund Advisors LP now owns 279,380 shares of the basic materials company’s stock valued at $9,675,000 after buying an additional 703 shares during the period. 6.04% of the stock is currently owned by institutional investors.

Shares of Southern Copper Corporation (NYSE SCCO) traded down $0.12 during mid-day trading on Wednesday, hitting $43.90. The stock had a trading volume of 85,126 shares, compared to its average volume of 1,048,528. The firm has a market capitalization of $34,368.78, a P/E ratio of 34.73, a PEG ratio of 0.75 and a beta of 0.63. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.08 and a current ratio of 3.30. Southern Copper Corporation has a 1-year low of $27.58 and a 1-year high of $44.69.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Wednesday, November 8th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, November 7th. This is an increase from Southern Copper Corporation’s previous quarterly dividend of $0.14. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.28%. Southern Copper Corporation’s dividend payout ratio is presently 43.75%.

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Several research analysts have issued reports on SCCO shares. BidaskClub upgraded Southern Copper Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Cowen and Company restated a “hold” rating and set a $39.00 target price on shares of Southern Copper Corporation in a research report on Wednesday, July 19th. Barclays PLC boosted their target price on Southern Copper Corporation from $33.00 to $35.00 and gave the company an “underweight” rating in a research report on Wednesday, August 9th. HSBC Holdings plc lowered Southern Copper Corporation from a “buy” rating to a “hold” rating and set a $41.00 target price for the company. in a research report on Wednesday, August 16th. Finally, Goldman Sachs Group, Inc. (The) restated a “neutral” rating and set a $40.00 target price on shares of Southern Copper Corporation in a research report on Monday, October 23rd. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $38.88.

Southern Copper Corporation Company Profile

Southern Copper Corporation is an integrated copper producer. It produces copper and, in the production process, obtains several by-products, including molybdenum, silver, zinc, sulfuric acid and other metals. Its segments include the Peruvian operations, the Mexican open-pit operations and the Mexican underground mining operations segment identified as the IMMSA unit.

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

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