SevenBridge Financial Group LLC Boosts Stake in Southern Copper Co. (NYSE:SCCO)

SevenBridge Financial Group LLC boosted its holdings in Southern Copper Co. (NYSE:SCCO) by 23.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,498 shares of the basic materials company’s stock after acquiring an additional 1,412 shares during the quarter. SevenBridge Financial Group LLC’s holdings in Southern Copper were worth $867,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cetera Investment Advisers boosted its stake in shares of Southern Copper by 395.1% during the 1st quarter. Cetera Investment Advisers now owns 38,803 shares of the basic materials company’s stock worth $4,133,000 after acquiring an additional 30,966 shares in the last quarter. Gateway Advisory LLC purchased a new stake in Southern Copper during the second quarter worth $625,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Southern Copper by 7.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 230,495 shares of the basic materials company’s stock valued at $26,661,000 after purchasing an additional 15,386 shares during the last quarter. Lazard Asset Management LLC grew its holdings in Southern Copper by 421.6% in the first quarter. Lazard Asset Management LLC now owns 155,265 shares of the basic materials company’s stock valued at $16,538,000 after purchasing an additional 125,496 shares during the last quarter. Finally, Toronto Dominion Bank increased its position in shares of Southern Copper by 15.2% in the first quarter. Toronto Dominion Bank now owns 5,145 shares of the basic materials company’s stock valued at $542,000 after buying an additional 679 shares in the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on SCCO. Morgan Stanley boosted their price objective on shares of Southern Copper from $97.00 to $100.00 and gave the stock an “underweight” rating in a research report on Thursday, September 19th. Scotiabank reduced their price target on shares of Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating on the stock in a report on Tuesday, October 15th. Finally, Citigroup raised their price objective on shares of Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a research note on Wednesday, October 2nd. Six research analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $90.63.

Southern Copper Stock Down 0.9 %

SCCO opened at $99.74 on Friday. Southern Copper Co. has a 12 month low of $70.63 and a 12 month high of $129.79. The business has a 50-day moving average of $110.24 and a two-hundred day moving average of $109.04. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.77 and a quick ratio of 2.31. The stock has a market capitalization of $78.35 billion, a price-to-earnings ratio of 25.68, a price-to-earnings-growth ratio of 1.04 and a beta of 1.18.

Southern Copper Announces Dividend

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

About Southern Copper

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.