Crossmark Global Holdings Inc. trimmed its holdings in Southern Copper Corp (NYSE:SCCO) by 5.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,609 shares of the basic materials company’s stock after selling 412 shares during the period. Crossmark Global Holdings Inc.’s holdings in Southern Copper were worth $302,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its holdings in Southern Copper by 8.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 278,599 shares of the basic materials company’s stock valued at $12,019,000 after purchasing an additional 20,906 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Southern Copper by 215.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 895,330 shares of the basic materials company’s stock valued at $38,625,000 after purchasing an additional 611,501 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in Southern Copper by 15.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 55,472 shares of the basic materials company’s stock valued at $1,707,000 after purchasing an additional 7,500 shares in the last quarter. Quantamental Technologies LLC acquired a new stake in Southern Copper during the 4th quarter valued at $74,000. Finally, Royal London Asset Management Ltd. increased its holdings in Southern Copper by 172.4% during the 4th quarter. Royal London Asset Management Ltd. now owns 203,558 shares of the basic materials company’s stock valued at $6,227,000 after purchasing an additional 128,834 shares in the last quarter. Institutional investors and hedge funds own 7.22% of the company’s stock.
A number of equities research analysts recently weighed in on the company. Zacks Investment Research raised Southern Copper from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a report on Tuesday, April 16th. ValuEngine cut Southern Copper from a “hold” rating to a “sell” rating in a report on Wednesday, May 1st. HSBC raised Southern Copper from a “reduce” rating to a “hold” rating and set a $37.00 price target for the company in a report on Tuesday, March 19th. TheStreet raised Southern Copper from a “c+” rating to a “b-” rating in a research note on Monday, March 11th. Finally, Bank of America started coverage on Southern Copper in a research note on Tuesday, January 29th. They issued a “buy” rating and a $39.00 target price for the company. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $41.86.
The company also recently announced a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Friday, May 3rd were paid a $0.40 dividend. The ex-dividend date was Thursday, May 2nd. This represents a $1.60 annualized dividend and a dividend yield of 4.61%. Southern Copper’s dividend payout ratio (DPR) is currently 80.00%.
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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 and lead.
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