Harvest Fund Management Co. Ltd Has $313,000 Position in Southern Copper Co. (NYSE:SCCO)

Harvest Fund Management Co. Ltd cut its holdings in Southern Copper Co. (NYSE:SCCO) by 54.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,709 shares of the basic materials company’s stock after selling 3,230 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Southern Copper were worth $313,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in SCCO. SVB Wealth LLC acquired a new position in shares of Southern Copper during the 1st quarter valued at about $282,000. Silvercrest Asset Management Group LLC acquired a new position in Southern Copper during the first quarter valued at approximately $202,000. California State Teachers Retirement System raised its position in shares of Southern Copper by 21.6% in the first quarter. California State Teachers Retirement System now owns 122,280 shares of the basic materials company’s stock valued at $13,025,000 after purchasing an additional 21,755 shares during the period. Comerica Bank lifted its stake in shares of Southern Copper by 4.3% in the first quarter. Comerica Bank now owns 17,694 shares of the basic materials company’s stock worth $1,885,000 after buying an additional 735 shares during the last quarter. Finally, Jaffetilchin Investment Partners LLC bought a new stake in shares of Southern Copper during the 1st quarter worth $389,000. 7.94% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on SCCO shares. Citigroup boosted their target price 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. Scotiabank cut 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. Finally, Morgan Stanley lifted their price target on Southern Copper from $97.00 to $100.00 and gave the stock an “underweight” rating in a research report on Thursday, September 19th. Six equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $90.63.

Southern Copper Price Performance

Shares of SCCO stock opened at $98.54 on Wednesday. Southern Copper Co. has a 12 month low of $70.63 and a 12 month high of $129.79. The company has a market capitalization of $77.41 billion, a P/E ratio of 25.37, a P/E/G ratio of 1.03 and a beta of 1.18. The stock has a 50 day moving average of $110.28 and a two-hundred day moving average of $108.76. 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 Announces Dividend

The firm also recently declared 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. The ex-dividend date was Wednesday, November 6th. This represents a yield of 2.1%. Southern Copper’s dividend payout ratio is currently 72.09%.

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.