Alaska Permanent Fund Corp Has $8.09 Million Stake in Southern Copper Co. (NYSE:SCCO)

Alaska Permanent Fund Corp raised its position in Southern Copper Co. (NYSE:SCCO) by 0.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 69,902 shares of the basic materials company’s stock after purchasing an additional 388 shares during the period. Alaska Permanent Fund Corp’s holdings in Southern Copper were worth $8,086,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of SCCO. Ballentine Partners LLC raised its stake in shares of Southern Copper by 5.4% in the 1st quarter. Ballentine Partners LLC now owns 3,025 shares of the basic materials company’s stock valued at $322,000 after purchasing an additional 154 shares during the period. Riverview Trust Co acquired a new stake in shares of Southern Copper in the first quarter valued at about $27,000. Janiczek Wealth Management LLC increased its position in shares of Southern Copper by 27.4% in the first quarter. Janiczek Wealth Management LLC now owns 1,563 shares of the basic materials company’s stock valued at $166,000 after acquiring an additional 336 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Southern Copper by 6.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 113,747 shares of the basic materials company’s stock valued at $12,116,000 after acquiring an additional 6,562 shares during the last quarter. Finally, Register Financial Advisors LLC acquired a new stake in shares of Southern Copper in the first quarter valued at about $172,000. Institutional investors and hedge funds own 7.94% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on SCCO. Scotiabank lowered their target price on Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating on the stock in a research report on Tuesday, October 15th. Morgan Stanley lifted their target price on Southern Copper from $97.00 to $100.00 and gave the company an “underweight” rating in a research report on Thursday, September 19th. UBS Group began coverage on Southern Copper in a research report on Friday, July 12th. They issued a “neutral” rating and a $120.00 target price on the stock. Finally, Citigroup lifted their target price on Southern Copper from $99.44 to $100.00 and gave the company a “sell” rating in a research report on Wednesday, October 2nd. Six analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $90.63.

Southern Copper Trading Up 0.5 %

Southern Copper stock opened at $114.37 on Thursday. Southern Copper Co. has a 52 week low of $68.93 and a 52 week high of $129.79. The stock has a market capitalization of $89.34 billion, a P/E ratio of 32.28, a PEG ratio of 1.17 and a beta of 1.18. The stock has a 50-day simple moving average of $107.22 and a 200 day simple moving average of $110.14. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.27 and a current ratio of 2.81.

Southern Copper Dividend Announcement

The company also recently disclosed a — dividend, which will be paid on Thursday, November 21st. Stockholders of record on Wednesday, November 6th will be issued a dividend of $0.62 per share. This represents a dividend yield of 2.1%. The ex-dividend date is Wednesday, November 6th. Southern Copper’s dividend payout ratio is presently 68.07%.

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.