Swiss National Bank Lowers Holdings in Southern Copper Co. (NYSE:SCCO)

Swiss National Bank trimmed its stake in Southern Copper Co. (NYSE:SCCO - Free Report) by 4.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 209,518 shares of the basic materials company's stock after selling 9,200 shares during the period. Swiss National Bank's holdings in Southern Copper were worth $18,033,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Commonwealth Equity Services LLC grew its position in Southern Copper by 4.8% during the 3rd quarter. Commonwealth Equity Services LLC now owns 22,268 shares of the basic materials company's stock worth $1,677,000 after acquiring an additional 1,030 shares during the last quarter. Raymond James & Associates raised its stake in shares of Southern Copper by 24.6% in the third quarter. Raymond James & Associates now owns 30,523 shares of the basic materials company's stock worth $2,298,000 after acquiring an additional 6,021 shares during the last quarter. Advisor Partners II LLC lifted its holdings in Southern Copper by 34.8% during the 3rd quarter. Advisor Partners II LLC now owns 4,128 shares of the basic materials company's stock worth $311,000 after buying an additional 1,066 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in Southern Copper in the third quarter valued at about $223,000. Finally, Strengthening Families & Communities LLC boosted its stake in Southern Copper by 3.6% in the third quarter. Strengthening Families & Communities LLC now owns 31,409 shares of the basic materials company's stock valued at $2,365,000 after acquiring an additional 1,100 shares during the last quarter. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Southern Copper Stock Up 1.5 %

Shares of NYSE SCCO traded up $1.81 during trading hours on Friday, hitting $118.83. The company had a trading volume of 1,262,786 shares, compared to its average volume of 1,182,388. The company has a quick ratio of 2.56, a current ratio of 3.31 and a debt-to-equity ratio of 0.82. The firm's 50 day moving average is $105.99 and its 200-day moving average is $88.27. Southern Copper Co. has a 1-year low of $64.66 and a 1-year high of $121.00. The stock has a market capitalization of $91.87 billion, a P/E ratio of 39.09, a price-to-earnings-growth ratio of 3.25 and a beta of 1.27.

Southern Copper Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Wednesday, May 8th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $0.04 annualized dividend and a yield of 0.03%. Southern Copper's payout ratio is currently 105.26%.

Insider Activity at Southern Copper

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 300 shares of the business's stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $118.50, for a total value of $35,550.00. Following the completion of the sale, the director now owns 4,614 shares of the company's stock, valued at approximately $546,759. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 600 shares of company stock worth $63,430 in the last ninety days. 0.08% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SCCO. StockNews.com cut Southern Copper from a "buy" rating to a "hold" rating in a research note on Tuesday. HSBC cut Southern Copper from a "hold" rating to a "reduce" rating and set a $80.00 target price for the company. in a research note on Monday, April 22nd. Morgan Stanley raised their price target on Southern Copper from $123.00 to $135.00 and gave the stock an "underweight" rating in a research report on Tuesday, April 30th. Scotiabank raised their price objective on shares of Southern Copper from $53.00 to $55.00 and gave the stock a "sector underperform" rating in a report on Thursday, April 18th. Finally, Jefferies Financial Group raised Southern Copper from a "hold" rating to a "buy" rating and lifted their target price for the company from $91.00 to $130.00 in a research report on Friday, March 22nd. Five investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $90.50.

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.