Southern Copper Co. (NYSE:SCCO) Holdings Reduced by Nuveen Asset Management LLC

Nuveen Asset Management LLC cut its position in Southern Copper Co. (NYSE:SCCO - Free Report) by 3.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 295,107 shares of the basic materials company's stock after selling 11,458 shares during the quarter. Nuveen Asset Management LLC's holdings in Southern Copper were worth $26,893,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in SCCO. Ameritas Advisory Services LLC boosted its stake in shares of Southern Copper by 18.2% in the fourth quarter. Ameritas Advisory Services LLC now owns 3,500 shares of the basic materials company's stock valued at $319,000 after purchasing an additional 538 shares during the period. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Southern Copper by 30.7% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 893 shares of the basic materials company's stock valued at $81,000 after purchasing an additional 210 shares during the period. Atomi Financial Group Inc. boosted its stake in shares of Southern Copper by 1.5% in the fourth quarter. Atomi Financial Group Inc. now owns 9,509 shares of the basic materials company's stock valued at $867,000 after purchasing an additional 145 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of Southern Copper by 0.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 24,426 shares of the basic materials company's stock valued at $2,226,000 after purchasing an additional 144 shares during the period. Finally, SG Americas Securities LLC boosted its stake in shares of Southern Copper by 1,322.7% in the fourth quarter. SG Americas Securities LLC now owns 99,606 shares of the basic materials company's stock valued at $9,077,000 after purchasing an additional 92,605 shares during the period. 7.94% of the stock is currently owned by hedge funds and other institutional investors.

Southern Copper Stock Performance

Shares of Southern Copper stock traded down $1.16 during trading hours on Wednesday, reaching $92.00. The company's stock had a trading volume of 102,235 shares, compared to its average volume of 1,191,783. The company's 50 day simple moving average is $89.99 and its 200 day simple moving average is $93.88. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.77. Southern Copper Co. has a one year low of $74.11 and a one year high of $119.97. The stock has a market cap of $73.25 billion, a P/E ratio of 21.33, a price-to-earnings-growth ratio of 1.90 and a beta of 1.05.

Southern Copper (NYSE:SCCO - Get Free Report) last posted its quarterly earnings results on Friday, April 25th. The basic materials company reported $1.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.05 by $0.14. Southern Copper had a net margin of 29.53% and a return on equity of 40.27%. The company had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.05 billion. As a group, analysts expect that Southern Copper Co. will post 4.66 EPS for the current fiscal year.

Southern Copper Announces Dividend

The firm also recently declared a dividend, which was paid on Monday, May 19th. Stockholders of record on Monday, May 5th were given a $0.70 dividend. The ex-dividend date of this dividend was Friday, May 2nd. This represents a dividend yield of 2.98%. Southern Copper's payout ratio is currently 61.27%.

Wall Street Analyst Weigh In

A number of research analysts have commented on SCCO shares. JPMorgan Chase & Co. reduced their price objective on shares of Southern Copper from $84.00 to $83.50 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Hsbc Global Res upgraded shares of Southern Copper from a "moderate sell" rating to a "hold" rating in a research note on Thursday, April 24th. UBS Group cut their target price on shares of Southern Copper from $120.00 to $100.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Wall Street Zen lowered shares of Southern Copper from a "buy" rating to a "hold" rating in a research note on Tuesday, May 20th. Finally, Scotiabank upped their target price on shares of Southern Copper from $52.00 to $72.00 and gave the company a "sector underperform" rating in a research note on Monday, March 10th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $91.50.

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.