Southern Copper Co. (NYSE:SCCO) Shares Purchased by IFM Investors Pty Ltd

IFM Investors Pty Ltd grew its position in shares of Southern Copper Co. (NYSE:SCCO) by 100.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 11,468 shares of the basic materials company’s stock after purchasing an additional 5,746 shares during the quarter. IFM Investors Pty Ltd’s holdings in Southern Copper were worth $1,327,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of SCCO. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Southern Copper by 3.2% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 10,930 shares of the basic materials company’s stock valued at $1,164,000 after acquiring an additional 336 shares during the period. Azzad Asset Management Inc. ADV boosted its holdings in shares of Southern Copper by 1.8% during the first quarter. Azzad Asset Management Inc. ADV now owns 38,143 shares of the basic materials company’s stock valued at $4,063,000 after acquiring an additional 672 shares during the period. Sivia Capital Partners LLC acquired a new position in shares of Southern Copper during the first quarter valued at $209,000. Norden Group LLC acquired a new position in shares of Southern Copper during the first quarter valued at $1,820,000. Finally, First Trust Direct Indexing L.P. raised its stake in shares of Southern Copper by 13.8% during the first quarter. First Trust Direct Indexing L.P. now owns 3,685 shares of the basic materials company’s stock valued at $393,000 after purchasing an additional 447 shares in the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Southern Copper Price Performance

Shares of Southern Copper stock opened at $115.41 on Monday. The company has a current ratio of 2.81, a quick ratio of 2.27 and a debt-to-equity ratio of 0.67. The company’s 50-day moving average price is $107.62 and its two-hundred day moving average price is $110.11. Southern Copper Co. has a 52 week low of $68.93 and a 52 week high of $129.79. The stock has a market cap of $90.15 billion, a PE ratio of 38.34, a price-to-earnings-growth ratio of 1.17 and a beta of 1.18.

Southern Copper Announces Dividend

The business also recently disclosed a — dividend, which will be paid on Thursday, November 21st. Shareholders 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 yield of 2.1%. Southern Copper’s payout ratio is presently 93.02%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SCCO. Morgan Stanley lifted their price objective on shares of Southern Copper from $97.00 to $100.00 and gave the company an “underweight” rating in a research note on Thursday, September 19th. UBS Group began coverage on shares of Southern Copper in a research note on Friday, July 12th. They set a “neutral” rating and a $120.00 price objective on the stock. Scotiabank cut their price objective on shares of Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating on the stock in a research note on Tuesday, October 15th. Finally, Citigroup lifted their price objective 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 analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target 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.