Sanctuary Advisors LLC Purchases 25,559 Shares of Southern Copper Co. (NYSE:SCCO)

Sanctuary Advisors LLC increased its position in Southern Copper Co. (NYSE:SCCO) by 488.9% during the third quarter, Holdings Channel.com reports. The institutional investor owned 30,787 shares of the basic materials company’s stock after purchasing an additional 25,559 shares during the period. Sanctuary Advisors LLC’s holdings in Southern Copper were worth $3,561,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SCCO. Los Angeles Capital Management LLC boosted its position in shares of Southern Copper by 1,300.4% during 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 acquiring an additional 411,630 shares during the last quarter. Itau Unibanco Holding S.A. raised its stake in Southern Copper by 115,910.7% during the third quarter. Itau Unibanco Holding S.A. now owns 336,431 shares of the basic materials company’s stock valued at $38,915,000 after purchasing an additional 336,141 shares in the last quarter. Fisher Asset Management LLC raised its stake in Southern Copper by 10.6% during the third quarter. Fisher Asset Management LLC now owns 2,963,572 shares of the basic materials company’s stock valued at $342,796,000 after purchasing an additional 283,562 shares in the last quarter. International Assets Investment Management LLC lifted its position in Southern Copper by 11,510.5% during the third quarter. International Assets Investment Management LLC now owns 189,716 shares of the basic materials company’s stock valued at $21,944,000 after purchasing an additional 188,082 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its stake in shares of Southern Copper by 1,601.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 192,571 shares of the basic materials company’s stock worth $22,275,000 after buying an additional 181,252 shares in the last quarter. 7.94% of the stock is owned by institutional investors.

Southern Copper Price Performance

Shares of SCCO stock opened at $97.33 on Tuesday. The stock has a 50 day moving average price of $106.94 and a 200 day moving average price of $106.77. The firm has a market capitalization of $76.46 billion, a P/E ratio of 25.06, a P/E/G ratio of 1.56 and a beta of 1.14. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.77. Southern Copper Co. has a 52-week low of $77.14 and a 52-week high of $129.79.

Southern Copper Announces Dividend

The business also recently announced a — dividend, which was paid on Thursday, November 21st. Stockholders of record on Wednesday, November 6th were paid a dividend of $0.62 per share. This represents a dividend yield of 2.1%. The ex-dividend date of this dividend was Wednesday, November 6th. Southern Copper’s dividend payout ratio is currently 72.09%.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Scotiabank lowered their price target on shares of Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating for the company in a report on Tuesday, October 15th. Morgan Stanley upgraded Southern Copper from an “underweight” rating to an “equal weight” rating and decreased their price objective for the company from $106.30 to $102.00 in a research report on Thursday, December 12th. JPMorgan Chase & Co. upgraded Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 target price for the company in a report on Monday, December 2nd. Finally, Citigroup increased their price target on Southern Copper from $99.44 to $100.00 and gave the company a “sell” rating in a report on Wednesday, October 2nd. Four investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $94.81.

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.