Creative Planning raised its stake in shares of Southern Copper Co. (NYSE:SCCO – Free Report) by 4.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 49,328 shares of the basic materials company’s stock after buying an additional 2,092 shares during the quarter. Creative Planning’s holdings in Southern Copper were worth $5,706,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Ensign Peak Advisors Inc increased its holdings in shares of Southern Copper by 1.0% in the 2nd quarter. Ensign Peak Advisors Inc now owns 10,558 shares of the basic materials company’s stock worth $1,138,000 after buying an additional 108 shares during the last quarter. Prudential PLC lifted its position in Southern Copper by 1.0% in the 2nd quarter. Prudential PLC now owns 10,667 shares of the basic materials company’s stock worth $1,149,000 after buying an additional 109 shares during the last quarter. American Financial Advisors LLC boosted its stake in Southern Copper by 1.0% in the second quarter. American Financial Advisors LLC now owns 11,718 shares of the basic materials company’s stock worth $1,262,000 after buying an additional 117 shares in the last quarter. DekaBank Deutsche Girozentrale grew its position in Southern Copper by 0.5% during the second quarter. DekaBank Deutsche Girozentrale now owns 23,758 shares of the basic materials company’s stock valued at $2,557,000 after acquiring an additional 118 shares during the last quarter. Finally, Axiom Advisory LLC raised its stake in shares of Southern Copper by 4.0% during the third quarter. Axiom Advisory LLC now owns 3,328 shares of the basic materials company’s stock worth $385,000 after acquiring an additional 129 shares in the last quarter. Institutional investors own 7.94% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms have recently commented on SCCO. Morgan Stanley lifted their price objective on Southern Copper from $97.00 to $100.00 and gave the stock an “underweight” rating in a report on Thursday, September 19th. Citigroup lifted their target price on shares of Southern Copper from $99.44 to $100.00 and gave the company a “sell” rating in a report on Wednesday, October 2nd. Scotiabank cut their target price on Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating on the stock in a research note on Tuesday, October 15th. Finally, UBS Group began coverage on shares of Southern Copper in a research report on Friday, July 12th. They set a “neutral” rating and a $120.00 target price for the company. Six equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $90.63.
Southern Copper Price Performance
Southern Copper stock opened at $113.82 on Thursday. The company has a quick ratio of 2.27, a current ratio of 2.81 and a debt-to-equity ratio of 0.67. Southern Copper Co. has a 52-week low of $68.93 and a 52-week high of $129.79. The firm’s fifty day moving average is $107.22 and its 200 day moving average is $110.14. The company has a market cap of $88.91 billion, a price-to-earnings ratio of 32.28, a PEG ratio of 1.17 and a beta of 1.18.
Southern Copper Dividend Announcement
The company also recently declared a — dividend, which will be paid on Thursday, November 21st. Investors of record on Wednesday, November 6th will be paid a dividend of $0.62 per share. The ex-dividend date is Wednesday, November 6th. This represents a dividend yield of 2.1%. Southern Copper’s dividend payout ratio is presently 68.07%.
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.
See Also
- Five stocks we like better than Southern Copper
- Low PE Growth Stocks: Unlocking Investment Opportunities
- Chinese Stocks Cool Off: Time to Buy the Dip in These 2 Stocks?
- Insider Buying Explained: What Investors Need to Know
- Goldman Sachs Highlights 3 Top Short Squeeze Stocks to Watch
- What to Know About Investing in Penny Stocks
- Walmart is Up 56% YTD, Is it Still a Top Consumer Staples Stock?
Receive News & Ratings for Southern Copper Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southern Copper and related companies with MarketBeat.com's FREE daily email newsletter.