Blue Trust Inc. Raises Position in Southern Copper Co. (NYSE:SCCO)

Blue Trust Inc. lifted its stake in shares of Southern Copper Co. (NYSE:SCCO) by 333.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,879 shares of the basic materials company’s stock after buying an additional 3,753 shares during the quarter. Blue Trust Inc.’s holdings in Southern Copper were worth $526,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Stratos Wealth Advisors LLC grew its position in Southern Copper by 52.5% in the third quarter. Stratos Wealth Advisors LLC now owns 20,676 shares of the basic materials company’s stock valued at $2,392,000 after acquiring an additional 7,115 shares in the last quarter. OmniStar Financial Group Inc. purchased a new position in shares of Southern Copper in the third quarter valued at $717,000. Inspire Advisors LLC grew its holdings in Southern Copper by 3.9% during the 3rd quarter. Inspire Advisors LLC now owns 3,001 shares of the basic materials company’s stock valued at $347,000 after purchasing an additional 113 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Southern Copper by 7.6% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 3,538 shares of the basic materials company’s stock worth $409,000 after buying an additional 250 shares during the period. Finally, Marathon Asset Management Ltd lifted its holdings in Southern Copper by 2.9% in the 3rd 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 in the last quarter. 7.94% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SCCO. UBS Group initiated coverage on Southern Copper in a research note on Friday, July 12th. They set a “neutral” rating and a $120.00 target price for the company. 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. Scotiabank decreased 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 research report on Tuesday, October 15th. Finally, Citigroup upped 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. Six 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $90.63.

Southern Copper Trading Up 1.9 %

NYSE SCCO opened at $114.57 on Wednesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.27 and a current ratio of 2.81. Southern Copper Co. has a one year low of $68.93 and a one year high of $129.79. The company has a 50-day simple moving average of $106.97 and a 200-day simple moving average of $110.12. The firm has a market capitalization of $89.49 billion, a PE ratio of 32.49, a price-to-earnings-growth ratio of 1.17 and a beta of 1.18.

Southern Copper Announces Dividend

The business also recently announced 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. This represents a dividend yield of 2.1%. The ex-dividend date is Wednesday, November 6th. Southern Copper’s dividend payout ratio (DPR) 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.