Hsbc Holdings PLC lifted its position in shares of Southern Copper Corp (NYSE:SCCO) by 6.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 124,579 shares of the basic materials company’s stock after purchasing an additional 7,925 shares during the period. Hsbc Holdings PLC’s holdings in Southern Copper were worth $3,833,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Quantamental Technologies LLC acquired a new stake in shares of Southern Copper during the 4th quarter worth $74,000. NumerixS Investment Technologies Inc acquired a new stake in shares of Southern Copper during the 4th quarter worth $98,000. Alta Advisers Ltd acquired a new stake in shares of Southern Copper during the 4th quarter worth $190,000. Riverhead Capital Management LLC acquired a new stake in shares of Southern Copper during the 3rd quarter worth $252,000. Finally, Piedmont Investment Advisors Inc. increased its holdings in shares of Southern Copper by 128.4% during the 3rd quarter. Piedmont Investment Advisors Inc. now owns 5,966 shares of the basic materials company’s stock worth $257,000 after buying an additional 3,354 shares during the last quarter. Institutional investors and hedge funds own 7.09% of the company’s stock.

Shares of Southern Copper stock opened at $37.62 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.61 and a quick ratio of 1.77. Southern Copper Corp has a twelve month low of $29.01 and a twelve month high of $58.09.

The company also recently disclosed a special dividend, which was paid on Thursday, February 21st. Shareholders of record on Monday, February 11th were given a $0.444 dividend. The ex-dividend date of this dividend was Friday, February 8th. This represents a yield of 4.86%.

A number of analysts recently weighed in on SCCO shares. TheStreet raised shares of Southern Copper from a “c+” rating to a “b-” rating in a research report on Monday, March 11th. Citigroup raised shares of Southern Copper from a “sell” rating to a “buy” rating and upped their price target for the stock from $33.00 to $41.00 in a research report on Tuesday, February 19th. Goldman Sachs Group started coverage on shares of Southern Copper in a research report on Tuesday, February 19th. They set a “buy” rating for the company. Bank of America started coverage on shares of Southern Copper in a research report on Tuesday, January 29th. They set a “buy” rating and a $39.00 price target for the company. Finally, Itau BBA Securities raised shares of Southern Copper from a “market perform” rating to an “outperform” rating and set a $48.00 price target for the company in a research report on Wednesday, January 16th. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $41.06.

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Southern Copper Company Profile

Southern Copper Corporation engages in mining, exploring, smelting, and refining copper and other minerals in Peru, Mexico, Argentina, Chile, and Ecuador. 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 and lead.

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Institutional Ownership by Quarter for Southern Copper (NYSE:SCCO)

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