Commerce Bank Buys 225 Shares of Southern Copper Co. (NYSE:SCCO)

Commerce Bank boosted its stake in Southern Copper Co. (NYSE:SCCO) by 0.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,942 shares of the basic materials company’s stock after acquiring an additional 225 shares during the period. Commerce Bank’s holdings in Southern Copper were worth $2,769,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SCCO. Prospera Private Wealth LLC bought a new position in shares of Southern Copper in the 3rd quarter worth about $47,000. PNC Financial Services Group Inc. grew its position in shares of Southern Copper by 4.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 16,955 shares of the basic materials company’s stock worth $1,961,000 after buying an additional 778 shares during the period. Prospera Financial Services Inc increased its stake in shares of Southern Copper by 39.7% in the 3rd quarter. Prospera Financial Services Inc now owns 3,389 shares of the basic materials company’s stock valued at $392,000 after acquiring an additional 963 shares in the last quarter. Caprock Group LLC acquired a new position in shares of Southern Copper during the 3rd quarter valued at $217,000. Finally, Pathstone Holdings LLC grew its holdings in Southern Copper by 2.0% in the third quarter. Pathstone Holdings LLC now owns 12,523 shares of the basic materials company’s stock worth $1,448,000 after purchasing an additional 247 shares during the period. Institutional investors and hedge funds own 7.94% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Morgan Stanley boosted their price target 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. Citigroup upped their target price on shares of Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a report on Wednesday, October 2nd. Finally, Scotiabank cut their price target on Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating for the company in a research note on Tuesday, October 15th. Six equities 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 company. Based on data from MarketBeat, Southern Copper presently has a consensus rating of “Hold” and an average target price of $90.63.

Southern Copper Price Performance

Shares of NYSE:SCCO opened at $99.74 on Friday. The company has a 50-day moving average price of $110.24 and a two-hundred day moving average price of $109.04. Southern Copper Co. has a twelve month low of $70.63 and a twelve month 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 firm has a market capitalization of $78.35 billion, a PE ratio of 25.68, a P/E/G ratio of 1.04 and a beta of 1.18.

Southern Copper Announces Dividend

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