Nations Financial Group Inc. IA ADV Invests $805,000 in Southern Copper Co. (NYSE:SCCO)

Nations Financial Group Inc. IA ADV bought a new position in Southern Copper Co. (NYSE:SCCO) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,961 shares of the basic materials company’s stock, valued at approximately $805,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD increased its holdings in shares of Southern Copper by 18.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,771,332 shares of the basic materials company’s stock worth $827,804,000 after buying an additional 1,192,111 shares during the last quarter. Capital World Investors acquired a new position in Southern Copper during the first quarter valued at approximately $340,373,000. Marathon Asset Management Ltd grew its stake in Southern Copper by 2.9% during the third quarter. Marathon Asset Management Ltd now owns 788,672 shares of the basic materials company’s stock worth $91,226,000 after buying an additional 22,437 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Southern Copper by 0.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 630,579 shares of the basic materials company’s stock worth $67,939,000 after purchasing an additional 4,580 shares during the period. Finally, Los Angeles Capital Management LLC increased its holdings in Southern Copper by 21.7% in the 3rd quarter. Los Angeles Capital Management LLC now owns 539,495 shares of the basic materials company’s stock valued at $62,403,000 after purchasing an additional 96,210 shares in the last quarter. 7.94% of the stock is currently owned by hedge funds and other institutional investors.

Southern Copper Price Performance

Shares of NYSE SCCO opened at $102.70 on Wednesday. The company has a market capitalization of $80.67 billion, a price-to-earnings ratio of 26.44, a price-to-earnings-growth ratio of 1.10 and a beta of 1.18. Southern Copper Co. has a twelve month low of $70.13 and a twelve month high of $129.79. The business has a 50 day simple moving average of $109.32 and a 200-day simple moving average of $109.94. 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 Dividend Announcement

The firm also recently disclosed a — dividend, which will be paid on Thursday, November 21st. Investors of record on Wednesday, November 6th will be given a dividend of $0.62 per share. This represents a dividend yield of 2.1%. The ex-dividend date is Wednesday, November 6th. Southern Copper’s dividend payout ratio is presently 72.09%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Morgan Stanley raised their target price on Southern Copper from $97.00 to $100.00 and gave the company an “underweight” rating in a report on Thursday, September 19th. Citigroup raised their price target 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. Finally, Scotiabank dropped their target price on Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating on the stock in a research report on Tuesday, October 15th. Six 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $90.63.

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.