Van ECK Associates Corp Sells 1,395 Shares of Southern Copper Co. (NYSE:SCCO)

Van ECK Associates Corp lowered its holdings in Southern Copper Co. (NYSE:SCCO) by 0.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 296,141 shares of the basic materials company’s stock after selling 1,395 shares during the period. Van ECK Associates Corp’s holdings in Southern Copper were worth $33,710,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. First Trust Direct Indexing L.P. boosted its position in shares of Southern Copper by 13.8% during the 1st quarter. First Trust Direct Indexing L.P. now owns 3,685 shares of the basic materials company’s stock worth $393,000 after acquiring an additional 447 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in shares of Southern Copper by 30.4% in the first quarter. Sequoia Financial Advisors LLC now owns 3,953 shares of the basic materials company’s stock valued at $421,000 after buying an additional 921 shares during the period. Fidelis Capital Partners LLC bought a new position in shares of Southern Copper during the first quarter valued at $26,000. Oxbow Advisors LLC bought a new position in Southern Copper during the 1st quarter worth $426,000. Finally, Duality Advisers LP acquired a new stake in Southern Copper during the 1st quarter valued at approximately $2,395,000. Institutional investors own 7.94% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Citigroup lifted 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. Scotiabank dropped their price objective on shares of Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating on the stock in a research note on Tuesday, October 15th. UBS Group assumed coverage on Southern Copper in a research note on Friday, July 12th. They set a “neutral” rating and a $120.00 price objective on the stock. Finally, Morgan Stanley upped their target price on Southern Copper from $97.00 to $100.00 and gave the company an “underweight” rating in a report on Thursday, September 19th. 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. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $90.63.

Southern Copper Stock Up 1.1 %

SCCO opened at $111.31 on Tuesday. Southern Copper Co. has a 12 month low of $68.93 and a 12 month high of $129.79. The company has a market cap of $86.95 billion, a PE ratio of 28.66, a price-to-earnings-growth ratio of 1.12 and a beta of 1.18. The company has a current ratio of 2.81, a quick ratio of 2.27 and a debt-to-equity ratio of 0.67. The company has a 50 day moving average of $108.57 and a 200 day moving average of $109.99.

Southern Copper Dividend Announcement

The business also recently disclosed a — dividend, which will be paid on Thursday, November 21st. Investors of record on Wednesday, November 6th will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a yield of 2.1%. Southern Copper’s dividend payout ratio (DPR) is 61.79%.

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.