Headlands Technologies LLC Makes New $98,000 Investment in Southern Copper Co. (NYSE:SCCO)

Headlands Technologies LLC purchased a new position in Southern Copper Co. (NYSE:SCCOFree Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,299 shares of the basic materials company’s stock, valued at approximately $98,000.

Several other large investors have also added to or reduced their stakes in SCCO. Bank of New York Mellon Corp lifted its holdings in Southern Copper by 1.3% during the first quarter. Bank of New York Mellon Corp now owns 283,570 shares of the basic materials company’s stock valued at $21,523,000 after purchasing an additional 3,611 shares in the last quarter. American Century Companies Inc. lifted its holdings in Southern Copper by 48.3% during the first quarter. American Century Companies Inc. now owns 11,974 shares of the basic materials company’s stock valued at $909,000 after purchasing an additional 3,901 shares in the last quarter. MetLife Investment Management LLC purchased a new position in Southern Copper during the first quarter valued at approximately $388,000. Rhumbline Advisers lifted its holdings in Southern Copper by 121.4% during the first quarter. Rhumbline Advisers now owns 173,100 shares of the basic materials company’s stock valued at $13,138,000 after purchasing an additional 94,910 shares in the last quarter. Finally, BlackRock Inc. lifted its holdings in shares of Southern Copper by 10.7% in the first quarter. BlackRock Inc. now owns 7,022,108 shares of the basic materials company’s stock worth $532,978,000 after buying an additional 680,165 shares in the last quarter. Hedge funds and other institutional investors own 7.40% of the company’s stock.

Analyst Ratings Changes

SCCO has been the topic of several research analyst reports. Morgan Stanley downgraded shares of Southern Copper from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $83.00 to $68.00 in a report on Monday, November 27th. StockNews.com downgraded shares of Southern Copper from a “buy” rating to a “hold” rating in a report on Monday, February 5th. Four equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to MarketBeat.com, Southern Copper has an average rating of “Reduce” and a consensus price target of $64.50.

View Our Latest Stock Analysis on Southern Copper

Southern Copper Price Performance

Southern Copper stock opened at $80.16 on Monday. The company has a market cap of $61.97 billion, a price-to-earnings ratio of 25.53 and a beta of 1.29. The firm’s fifty day moving average is $81.81 and its 200 day moving average is $78.34. The company has a quick ratio of 2.94, a current ratio of 3.70 and a debt-to-equity ratio of 0.80. Southern Copper Co. has a 52-week low of $64.66 and a 52-week high of $88.40.

Southern Copper Cuts Dividend

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

Southern Copper Profile

(Free Report)

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.

See Also

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

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