UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $138.98 Million Position in Southern Copper Co. (NYSE:SCCO)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its position in Southern Copper Co. (NYSE:SCCO) by 7.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,201,517 shares of the basic materials company’s stock after selling 103,694 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Southern Copper were worth $138,979,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in SCCO. Fisher Asset Management LLC boosted its stake in shares of Southern Copper by 10.6% in the third quarter. Fisher Asset Management LLC now owns 2,963,572 shares of the basic materials company’s stock valued at $342,796,000 after buying an additional 283,562 shares during the period. Empower Advisory Group LLC lifted its position in shares of Southern Copper by 3.3% during the 3rd quarter. Empower Advisory Group LLC now owns 1,004,060 shares of the basic materials company’s stock valued at $116,140,000 after acquiring an additional 32,314 shares during the period. Marathon Asset Management Ltd grew its holdings in shares of Southern Copper by 2.9% during the 3rd quarter. Marathon Asset Management Ltd now owns 788,672 shares of the basic materials company’s stock worth $91,226,000 after purchasing an additional 22,437 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Southern Copper by 0.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 630,579 shares of the basic materials company’s stock worth $67,939,000 after purchasing an additional 4,580 shares during the period. Finally, Los Angeles Capital Management LLC raised its stake in Southern Copper by 21.7% in the third quarter. Los Angeles Capital Management LLC now owns 539,495 shares of the basic materials company’s stock valued at $62,403,000 after purchasing an additional 96,210 shares in the last quarter. Institutional investors own 7.94% of the company’s stock.

Southern Copper Price Performance

Southern Copper stock opened at $100.35 on Monday. The stock has a 50-day moving average price of $110.08 and a two-hundred day moving average price of $108.28. Southern Copper Co. has a 12 month low of $70.92 and a 12 month high of $129.79. The company has a market capitalization of $78.83 billion, a PE ratio of 25.86, a P/E/G ratio of 1.55 and a beta of 1.18. The company has a current ratio of 2.77, a quick ratio of 2.31 and a debt-to-equity ratio of 0.64.

Southern Copper Dividend Announcement

The firm also recently announced a — dividend, which was paid on Thursday, November 21st. Investors of record on Wednesday, November 6th were given a dividend of $0.62 per share. The ex-dividend date was Wednesday, November 6th. This represents a yield of 2.1%. Southern Copper’s dividend payout ratio is presently 72.16%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SCCO. Morgan Stanley increased their price objective on shares of Southern Copper from $97.00 to $100.00 and gave the stock an “underweight” rating in a research note on Thursday, September 19th. Citigroup increased their price target on shares of Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a research report on Wednesday, October 2nd. Finally, Scotiabank lowered their price objective on shares of Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating for the company in a research report on Tuesday, October 15th. Six research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $90.63.

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.