SCP Investment LP Purchases New Shares in Southern Copper Co. (NYSE:SCCO)

SCP Investment LP acquired a new position in Southern Copper Co. (NYSE:SCCO) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 2,888 shares of the basic materials company’s stock, valued at approximately $334,000.

Other institutional investors have also recently bought and sold shares of the company. Capital World Investors bought a new position in shares of Southern Copper in the first quarter worth $340,373,000. Price T Rowe Associates Inc. MD increased its holdings in Southern Copper by 18.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,771,332 shares of the basic materials company’s stock valued at $827,804,000 after buying an additional 1,192,111 shares during the period. Los Angeles Capital Management LLC raised its position in shares of Southern Copper by 1,300.4% in the 2nd quarter. Los Angeles Capital Management LLC now owns 443,285 shares of the basic materials company’s stock valued at $47,760,000 after buying an additional 411,630 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Southern Copper by 11,510.5% during the 3rd quarter. International Assets Investment Management LLC now owns 189,716 shares of the basic materials company’s stock worth $21,944,000 after acquiring an additional 188,082 shares during the period. Finally, CANADA LIFE ASSURANCE Co increased its stake in Southern Copper by 182.3% in the first quarter. CANADA LIFE ASSURANCE Co now owns 278,119 shares of the basic materials company’s stock valued at $29,625,000 after acquiring an additional 179,590 shares during the last quarter. Institutional investors own 7.94% of the company’s stock.

Analyst Ratings Changes

SCCO has been the topic of a number of research analyst reports. 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. Scotiabank lowered their target price on Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating for the company in a research note on Tuesday, October 15th. Finally, 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 research note on Wednesday, October 2nd. Six equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $90.63.

Southern Copper Stock Up 2.0 %

Shares of NYSE SCCO opened at $103.84 on Wednesday. The company has a 50 day simple moving average of $110.04 and a 200 day simple moving average of $109.31. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.77 and a quick ratio of 2.31. Southern Copper Co. has a 1 year low of $70.63 and a 1 year high of $129.79. The firm has a market cap of $81.57 billion, a PE ratio of 26.73, a price-to-earnings-growth ratio of 1.02 and a beta of 1.18.

Southern Copper Dividend Announcement

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

Southern Copper 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.