Symmetry Partners LLC Trims Stake in Southern Copper Co. (NYSE:SCCO)

Symmetry Partners LLC reduced its stake in Southern Copper Co. (NYSE:SCCO) by 3.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,317 shares of the basic materials company’s stock after selling 254 shares during the period. Symmetry Partners LLC’s holdings in Southern Copper were worth $896,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in SCCO. Fortis Group Advisors LLC boosted its stake in shares of Southern Copper by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 302 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 151 shares during the period. Fidelis Capital Partners LLC purchased a new stake in Southern Copper during the 1st quarter valued at approximately $26,000. Riverview Trust Co bought a new stake in shares of Southern Copper during the first quarter valued at approximately $27,000. ICA Group Wealth Management LLC purchased a new position in shares of Southern Copper in the fourth quarter worth $61,000. Finally, Allworth Financial LP boosted its position in shares of Southern Copper by 277.7% during the fourth quarter. Allworth Financial LP now owns 1,065 shares of the basic materials company’s stock worth $92,000 after acquiring an additional 783 shares during the last quarter. Institutional investors own 7.94% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on SCCO shares. UBS Group assumed coverage on shares of Southern Copper in a report on Friday, July 12th. They issued a “neutral” rating and a $120.00 price target on the stock. Morgan Stanley increased their price target on Southern Copper from $81.70 to $100.00 and gave the company an “underweight” rating in a research note on Friday, June 21st. CICC Research initiated coverage on Southern Copper in a report on Wednesday, April 24th. They set an “outperform” rating for the company. HSBC downgraded Southern Copper from a “hold” rating to a “reduce” rating and set a $80.00 target price for the company. in a research report on Monday, April 22nd. Finally, StockNews.com upgraded shares of Southern Copper from a “hold” rating to a “buy” rating in a research report on Wednesday, May 15th. Five analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $89.57.

Southern Copper Stock Down 1.3 %

Shares of NYSE:SCCO traded down $1.30 during trading hours on Friday, hitting $99.13. The company’s stock had a trading volume of 389,627 shares, compared to its average volume of 1,194,445. The firm’s fifty day moving average price is $108.43 and its 200 day moving average price is $103.53. Southern Copper Co. has a 52 week low of $68.93 and a 52 week high of $129.79. The company has a market capitalization of $77.44 billion, a price-to-earnings ratio of 33.37, a P/E/G ratio of 1.04 and a beta of 1.20. The company has a debt-to-equity ratio of 0.82, a current ratio of 3.31 and a quick ratio of 2.56.

Southern Copper Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 26th. Investors of record on Friday, August 9th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $2.40 annualized dividend and a dividend yield of 2.42%. Southern Copper’s dividend payout ratio (DPR) is presently 79.73%.

Southern Copper Company Profile

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.