Gateway Investment Advisers LLC Grows Stock Holdings in Southern Copper Co. (NYSE:SCCO)

Gateway Investment Advisers LLC grew its holdings in Southern Copper Co. (NYSE:SCCO) by 2.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 103,415 shares of the basic materials company’s stock after acquiring an additional 2,843 shares during the period. Gateway Investment Advisers LLC’s holdings in Southern Copper were worth $11,142,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in SCCO. Raymond James & Associates boosted its holdings in shares of Southern Copper by 76.5% in the 4th quarter. Raymond James & Associates now owns 53,885 shares of the basic materials company’s stock valued at $4,638,000 after acquiring an additional 23,362 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in Southern Copper by 8,523.8% during the fourth quarter. International Assets Investment Management LLC now owns 172,907 shares of the basic materials company’s stock worth $14,882,000 after buying an additional 170,902 shares in the last quarter. Allworth Financial LP boosted its holdings in Southern Copper by 277.7% during the fourth quarter. Allworth Financial LP now owns 1,065 shares of the basic materials company’s stock worth $92,000 after buying an additional 783 shares in the last quarter. Prime Capital Investment Advisors LLC boosted its holdings in Southern Copper by 56.5% during the fourth quarter. Prime Capital Investment Advisors LLC now owns 7,579 shares of the basic materials company’s stock worth $652,000 after buying an additional 2,736 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its holdings in Southern Copper by 1.0% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 24,340 shares of the basic materials company’s stock worth $2,113,000 after buying an additional 251 shares in the last quarter. 7.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on SCCO shares. UBS Group started coverage on shares of Southern Copper in a report on Friday, July 12th. They set a “neutral” rating and a $120.00 price target on the stock. CICC Research started coverage on shares of Southern Copper in a research report on Wednesday, April 24th. They set an “outperform” rating for the company. HSBC cut shares of Southern Copper from a “hold” rating to a “reduce” rating and set a $80.00 price objective for the company. in a research report on Monday, April 22nd. StockNews.com upgraded shares of Southern Copper from a “hold” rating to a “buy” rating in a research report on Wednesday, May 15th. Finally, Morgan Stanley upped their price objective on shares of Southern Copper from $81.70 to $100.00 and gave the stock an “underweight” rating in a research report on Friday, June 21st. Five investment analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $89.57.

Southern Copper Trading Down 0.2 %

Southern Copper stock traded down $0.16 during midday trading on Friday, hitting $99.17. 703,021 shares of the stock were exchanged, compared to its average volume of 1,247,170. Southern Copper Co. has a fifty-two week low of $68.93 and a fifty-two week high of $129.79. The stock has a market capitalization of $77.47 billion, a price-to-earnings ratio of 32.96, a PEG ratio of 1.01 and a beta of 1.20. The stock’s 50-day simple moving average is $108.04 and its 200 day simple moving average is $103.81. The company has a current ratio of 2.81, a quick ratio of 2.56 and a debt-to-equity ratio of 0.67.

Southern Copper Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 26th. Investors of record on Friday, August 9th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.42%. The ex-dividend date is Friday, August 9th. Southern Copper’s payout ratio is currently 92.07%.

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.