Toronto Dominion Bank Trims Stake in Southern Copper Co. (NYSE:SCCO)

Toronto Dominion Bank decreased its stake in shares of Southern Copper Co. (NYSE:SCCO) by 9.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,660 shares of the basic materials company’s stock after selling 401 shares during the period. Toronto Dominion Bank’s holdings in Southern Copper were worth $421,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Los Angeles Capital Management LLC boosted its stake in shares of Southern Copper by 1,300.4% during the second quarter. Los Angeles Capital Management LLC now owns 443,285 shares of the basic materials company’s stock valued at $47,760,000 after acquiring an additional 411,630 shares during the last quarter. Itau Unibanco Holding S.A. lifted its holdings in Southern Copper by 115,910.7% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 336,431 shares of the basic materials company’s stock valued at $38,915,000 after purchasing an additional 336,141 shares in the last quarter. Fisher Asset Management LLC boosted its stake in shares of Southern Copper by 10.6% during the 3rd quarter. Fisher Asset Management LLC now owns 2,963,572 shares of the basic materials company’s stock worth $342,796,000 after purchasing an additional 283,562 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of Southern Copper by 11,510.5% during the third quarter. International Assets Investment Management LLC now owns 189,716 shares of the basic materials company’s stock worth $21,944,000 after buying an additional 188,082 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its position in shares of Southern Copper by 1,601.3% in the third quarter. BNP Paribas Financial Markets now owns 192,571 shares of the basic materials company’s stock valued at $22,275,000 after buying an additional 181,252 shares during the last quarter. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Southern Copper Stock Down 2.7 %

Shares of NYSE:SCCO opened at $97.33 on Tuesday. The stock has a 50-day simple moving average of $106.94 and a 200-day simple moving average of $106.77. The stock has a market capitalization of $76.46 billion, a P/E ratio of 25.06, a PEG ratio of 1.56 and a beta of 1.14. Southern Copper Co. has a 1 year low of $77.14 and a 1 year high of $129.79. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.77.

Southern Copper Announces Dividend

The firm also recently disclosed a — dividend, which was paid on Thursday, November 21st. Stockholders of record on Wednesday, November 6th were given a $0.62 dividend. This represents a dividend yield of 2.1%. The ex-dividend date of this dividend was Wednesday, November 6th. Southern Copper’s payout ratio is currently 72.09%.

Wall Street Analysts Forecast Growth

SCCO has been the subject of several recent analyst reports. Morgan Stanley raised shares of Southern Copper from an “underweight” rating to an “equal weight” rating and lowered their target price for the stock from $106.30 to $102.00 in a research note on Thursday, December 12th. Scotiabank lowered their price objective on Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating for the company in a research report on Tuesday, October 15th. JPMorgan Chase & Co. upgraded Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 target price on the stock in a research report on Monday, December 2nd. Finally, Citigroup lifted their price target on Southern Copper from $99.44 to $100.00 and gave the company a “sell” rating in a report on Wednesday, October 2nd. Four investment 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’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $94.81.

About Southern Copper

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.