Covestor Ltd Boosts Stake in Southern Copper Co. (NYSE:SCCO)

Covestor Ltd raised its position in Southern Copper Co. (NYSE:SCCO) by 209.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 826 shares of the basic materials company’s stock after purchasing an additional 559 shares during the quarter. Covestor Ltd’s holdings in Southern Copper were worth $96,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Cetera Investment Advisers raised its holdings in shares of Southern Copper by 395.1% in the 1st quarter. Cetera Investment Advisers now owns 38,803 shares of the basic materials company’s stock valued at $4,133,000 after buying an additional 30,966 shares during the period. Advisors Asset Management Inc. lifted its position in shares of Southern Copper by 21.7% during the first quarter. Advisors Asset Management Inc. now owns 90,237 shares of the basic materials company’s stock worth $9,612,000 after purchasing an additional 16,111 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in shares of 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 purchasing an additional 179,590 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Southern Copper by 18.1% in the first 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 purchasing an additional 1,192,111 shares in the last quarter. Finally, Gateway Advisory LLC purchased a new stake in Southern Copper during the 2nd quarter worth approximately $625,000. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SCCO has been the subject of several research reports. Morgan Stanley boosted their price target on shares of Southern Copper from $97.00 to $100.00 and gave the stock an “underweight” rating in a research note on Thursday, September 19th. Citigroup upped their price target on Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a report on Wednesday, October 2nd. Finally, Scotiabank reduced their price target on Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating on the stock in a research report on Tuesday, October 15th. 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. According to data from MarketBeat.com, Southern Copper has an average rating of “Hold” and an average target price of $90.63.

Southern Copper Price Performance

SCCO stock opened at $102.70 on Wednesday. The stock has a market cap of $80.67 billion, a price-to-earnings ratio of 26.99, a PEG ratio of 1.10 and a beta of 1.18. Southern Copper Co. has a fifty-two week low of $70.13 and a fifty-two week high of $129.79. The company has a quick ratio of 2.31, a current ratio of 2.77 and a debt-to-equity ratio of 0.64. The business has a 50 day moving average price of $109.32 and a 200 day moving average price of $109.94.

Southern Copper Dividend Announcement

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 $0.62 dividend. This represents a dividend yield of 2.1%. The ex-dividend date of this dividend is Wednesday, November 6th. Southern Copper’s payout ratio is 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.