Credit Agricole S A decreased its stake in Southern Copper Corporation (NYSE:SCCO) by 16.6% during the first quarter, Holdings Channel reports. The firm owned 95,061 shares of the basic materials company’s stock after selling 18,902 shares during the period. Credit Agricole S A’s holdings in Southern Copper Corporation were worth $3,412,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in SCCO. Sit Investment Associates Inc. increased its stake in Southern Copper Corporation by 14.3% in the first quarter. Sit Investment Associates Inc. now owns 3,200 shares of the basic materials company’s stock valued at $115,000 after buying an additional 400 shares during the period. Tobam increased its stake in Southern Copper Corporation by 1,003.8% in the first quarter. Tobam now owns 3,223 shares of the basic materials company’s stock valued at $116,000 after buying an additional 2,931 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Southern Copper Corporation during the first quarter valued at $202,000. Neuberger Berman Group LLC acquired a new stake in Southern Copper Corporation during the first quarter valued at $222,000. Finally, Baird Financial Group Inc. acquired a new stake in Southern Copper Corporation during the fourth quarter valued at $224,000. Institutional investors and hedge funds own 6.32% of the company’s stock.
Shares of Southern Copper Corporation (SCCO) traded up 0.26% during trading on Friday, hitting $34.44. The stock had a trading volume of 888,639 shares. Southern Copper Corporation has a 12 month low of $24.90 and a 12 month high of $39.50. The stock has a market cap of $26.62 billion, a price-to-earnings ratio of 29.41 and a beta of 0.58. The company’s 50 day moving average price is $34.75 and its 200 day moving average price is $35.38.
The company also recently announced a quarterly dividend, which was paid on Wednesday, May 31st. Investors of record on Wednesday, May 17th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend was Monday, May 15th. Southern Copper Corporation’s payout ratio is 40.68%.
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Several research firms have recently weighed in on SCCO. Cowen and Company reiterated a “hold” rating on shares of Southern Copper Corporation in a research report on Tuesday, April 11th. FBR & Co raised their price target on Southern Copper Corporation from $41.00 to $43.00 and gave the company an “outperform” rating in a research note on Tuesday, March 14th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. Southern Copper Corporation has an average rating of “Hold” and an average target price of $32.75.
Southern Copper Corporation Company Profile
Southern Copper Corporation is an integrated copper producer. It produces copper and, in the production process, obtains several by-products, including molybdenum, silver, zinc, sulfuric acid and other metals. Its segments include the Peruvian operations, the Mexican open-pit operations and the Mexican underground mining operations segment identified as the IMMSA unit.
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