Public Employees Retirement System of Ohio Purchases New Holdings in Southern Copper Co. (NYSE:SCCO)

Public Employees Retirement System of Ohio acquired a new position in Southern Copper Co. (NYSE:SCCO) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 66,868 shares of the basic materials company’s stock, valued at approximately $7,735,000.

Several other institutional investors have also added to or reduced their stakes in SCCO. Ensign Peak Advisors Inc lifted its holdings in Southern Copper by 1.0% during the 2nd quarter. Ensign Peak Advisors Inc now owns 10,558 shares of the basic materials company’s stock valued at $1,138,000 after buying an additional 108 shares in the last quarter. Prudential PLC boosted its holdings in shares of Southern Copper by 1.0% in the second quarter. Prudential PLC now owns 10,667 shares of the basic materials company’s stock valued at $1,149,000 after purchasing an additional 109 shares during the period. Tyche Wealth Partners LLC grew its stake in Southern Copper by 0.6% in the third quarter. Tyche Wealth Partners LLC now owns 19,685 shares of the basic materials company’s stock worth $2,277,000 after purchasing an additional 109 shares in the last quarter. Greenwood Capital Associates LLC increased its holdings in Southern Copper by 0.7% during the 3rd quarter. Greenwood Capital Associates LLC now owns 15,722 shares of the basic materials company’s stock worth $1,819,000 after purchasing an additional 112 shares during the period. Finally, Inspire Advisors LLC raised its position in Southern Copper by 3.9% during the 3rd quarter. Inspire Advisors LLC now owns 3,001 shares of the basic materials company’s stock valued at $347,000 after purchasing an additional 113 shares in the last quarter. Institutional investors own 7.94% of the company’s stock.

Southern Copper Stock Down 2.0 %

Shares of NYSE SCCO opened at $101.48 on Friday. The stock has a market cap of $79.72 billion, a PE ratio of 26.13, a P/E/G ratio of 1.61 and a beta of 1.14. The company has a current ratio of 2.77, a quick ratio of 2.31 and a debt-to-equity ratio of 0.64. Southern Copper Co. has a 12-month low of $73.78 and a 12-month high of $129.79. The company has a 50-day moving average of $107.98 and a 200 day moving average of $107.27.

Southern Copper Announces Dividend

The company also recently announced a — dividend, which was paid on Thursday, November 21st. Shareholders of record on Wednesday, November 6th were paid a dividend of $0.62 per share. This represents a yield of 2.1%. The ex-dividend date was Wednesday, November 6th. Southern Copper’s dividend payout ratio (DPR) is presently 72.09%.

Analysts Set New Price Targets

SCCO has been the subject of several recent research reports. Morgan Stanley upgraded Southern Copper from an “underweight” rating to an “equal weight” rating and decreased their price objective for the company from $106.30 to $102.00 in a report on Thursday. Citigroup upped their price target on shares of Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. raised shares of Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price objective on the stock in a report on Monday, December 2nd. Finally, Scotiabank lowered their target price on Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating for the company in a report on Tuesday, October 15th. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $94.81.

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.