Southern Copper Co. (NYSE:SCCO) Stock Position Decreased by abrdn plc

abrdn plc decreased its holdings in shares of Southern Copper Co. (NYSE:SCCO) by 7.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,730,729 shares of the basic materials company’s stock after selling 226,546 shares during the quarter. abrdn plc owned approximately 0.35% of Southern Copper worth $317,338,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Fidelis Capital Partners LLC acquired a new position in shares of Southern Copper during the first quarter valued at $26,000. Itau Unibanco Holding S.A. bought a new stake in Southern Copper in the 2nd quarter valued at about $31,000. McClarren Financial Advisors Inc. boosted its stake in Southern Copper by 169.2% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 288 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 181 shares during the period. Oakworth Capital Inc. bought a new position in Southern Copper in the 3rd quarter worth about $42,000. Finally, Hanseatic Management Services Inc. acquired a new stake in shares of Southern Copper in the second quarter valued at approximately $53,000. Institutional investors own 7.94% of the company’s stock.

Analyst Ratings Changes

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

Southern Copper Trading Down 0.6 %

Southern Copper stock opened at $114.77 on Tuesday. The company has a quick ratio of 2.27, a current ratio of 2.81 and a debt-to-equity ratio of 0.67. Southern Copper Co. has a 12 month low of $68.93 and a 12 month high of $129.79. The company’s fifty day simple moving average is $107.81 and its 200-day simple moving average is $110.09. The stock has a market cap of $89.65 billion, a P/E ratio of 29.55, a P/E/G ratio of 1.18 and a beta of 1.18.

Southern Copper Announces Dividend

The firm also recently announced a — dividend, which will be paid on Thursday, November 21st. Shareholders of record on Wednesday, November 6th will be paid a $0.62 dividend. This represents a yield of 2.1%. The ex-dividend date is Wednesday, November 6th. Southern Copper’s dividend payout ratio (DPR) is presently 61.79%.

Southern Copper 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.