CIBC Asset Management Inc Has $1.29 Million Position in Southern Copper Corporation (SCCO)
CIBC Asset Management Inc boosted its holdings in Southern Copper Corporation (NYSE:SCCO) by 3.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,449 shares of the basic materials company’s stock after acquiring an additional 1,225 shares during the quarter. CIBC Asset Management Inc’s holdings in Southern Copper Corporation were worth $1,290,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. Sei Investments Co. lifted its position in Southern Copper Corporation by 23.9% in the 3rd quarter. Sei Investments Co. now owns 20,911 shares of the basic materials company’s stock valued at $831,000 after acquiring an additional 4,038 shares in the last quarter. Global X MANAGEMENT CO LLC lifted its position in Southern Copper Corporation by 17.6% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 65,544 shares of the basic materials company’s stock valued at $2,606,000 after acquiring an additional 9,818 shares in the last quarter. IndexIQ Advisors LLC lifted its position in Southern Copper Corporation by 752.8% in the 3rd quarter. IndexIQ Advisors LLC now owns 91,183 shares of the basic materials company’s stock valued at $3,626,000 after acquiring an additional 80,491 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in Southern Copper Corporation by 33.8% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 10,046 shares of the basic materials company’s stock valued at $399,000 after acquiring an additional 2,539 shares in the last quarter. Finally, Andra AP fonden lifted its holdings in shares of Southern Copper Corporation by 89.2% during the 3rd quarter. Andra AP fonden now owns 120,300 shares of the basic materials company’s stock valued at $4,783,000 after buying an additional 56,700 shares during the period. 6.04% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have recently weighed in on SCCO. Zacks Investment Research cut Southern Copper Corporation from a “buy” rating to a “hold” rating in a report on Saturday, November 11th. B. Riley reissued a “buy” rating on shares of Southern Copper Corporation in a report on Wednesday, November 1st. Cowen and Company increased their price target on Southern Copper Corporation from $39.00 to $48.00 and gave the company a “market perform” rating in a report on Friday, November 3rd. BidaskClub cut Southern Copper Corporation from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 28th. Finally, Scotiabank cut Southern Copper Corporation from a “sector perform” rating to an “underperform” rating in a report on Monday, October 23rd. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. Southern Copper Corporation has an average rating of “Hold” and an average target price of $38.88.
Southern Copper Corporation (NYSE:SCCO) opened at $42.95 on Friday. Southern Copper Corporation has a twelve month low of $31.15 and a twelve month high of $44.69. The company has a market capitalization of $33,201.55, a price-to-earnings ratio of 33.55, a P/E/G ratio of 0.68 and a beta of 0.63. The company has a quick ratio of 2.00, a current ratio of 3.01 and a debt-to-equity ratio of 0.90.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Investors of record on Wednesday, November 8th will be issued a $0.25 dividend. This is a boost from Southern Copper Corporation’s previous quarterly dividend of $0.14. This represents a $1.00 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date is Tuesday, November 7th. Southern Copper Corporation’s dividend payout ratio (DPR) is currently 78.13%.
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About Southern Copper Corporation
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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