Southern Copper Corp (NYSE:SCCO) Holdings Trimmed by Nikko Asset Management Americas Inc.

Nikko Asset Management Americas Inc. lowered its position in shares of Southern Copper Corp (NYSE:SCCO) by 12.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 88,608 shares of the basic materials company’s stock after selling 12,496 shares during the quarter. Nikko Asset Management Americas Inc.’s holdings in Southern Copper were worth $3,442,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of Southern Copper by 0.8% in the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 39,700 shares of the basic materials company’s stock valued at $1,575,000 after purchasing an additional 300 shares during the period. CENTRAL TRUST Co boosted its position in shares of Southern Copper by 12.9% in the 1st quarter. CENTRAL TRUST Co now owns 4,481 shares of the basic materials company’s stock valued at $178,000 after purchasing an additional 511 shares during the period. Crossmark Global Holdings Inc. boosted its position in shares of Southern Copper by 7.6% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 8,185 shares of the basic materials company’s stock valued at $318,000 after purchasing an additional 576 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in shares of Southern Copper by 5.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 12,280 shares of the basic materials company’s stock valued at $487,000 after purchasing an additional 623 shares during the period. Finally, Nomura Asset Management Co. Ltd. boosted its position in shares of Southern Copper by 2.7% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 28,538 shares of the basic materials company’s stock valued at $1,132,000 after purchasing an additional 750 shares during the period. 6.88% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts recently weighed in on SCCO shares. Macquarie started coverage on Southern Copper in a research report on Wednesday, July 10th. They issued an “underperform” rating and a $35.00 price target for the company. ValuEngine upgraded Southern Copper from a “sell” rating to a “hold” rating in a research report on Monday, June 17th. Finally, Zacks Investment Research lowered Southern Copper from a “strong-buy” rating to a “hold” rating and set a $160.00 price target for the company. in a research report on Tuesday, June 4th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $53.15.

Southern Copper stock traded down $1.30 during mid-day trading on Friday, hitting $31.98. The company’s stock had a trading volume of 773,931 shares, compared to its average volume of 809,829. The stock’s 50 day moving average is $36.96. The firm has a market cap of $24.90 billion, a P/E ratio of 15.99, a PEG ratio of 0.95 and a beta of 0.89. The company has a current ratio of 2.24, a quick ratio of 1.46 and a debt-to-equity ratio of 0.82. Southern Copper Corp has a 52-week low of $29.01 and a 52-week high of $45.98.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Thursday, August 8th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 5.00%. The ex-dividend date of this dividend is Wednesday, August 7th. Southern Copper’s dividend payout ratio is currently 80.00%.

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

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