Aigen Investment Management LP increased its stake in Southern Copper Co. (NYSE:SCCO - Free Report) by 138.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,642 shares of the basic materials company's stock after acquiring an additional 9,095 shares during the period. Aigen Investment Management LP's holdings in Southern Copper were worth $1,809,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of SCCO. Creative Financial Designs Inc. ADV lifted its position in Southern Copper by 172.0% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 223 shares of the basic materials company's stock worth $26,000 after acquiring an additional 141 shares during the period. Itau Unibanco Holding S.A. acquired a new stake in shares of Southern Copper in the second quarter valued at about $31,000. McClarren Financial Advisors Inc. lifted its stake in shares of Southern Copper by 169.2% in the third quarter. McClarren Financial Advisors Inc. now owns 288 shares of the basic materials company's stock valued at $33,000 after purchasing an additional 181 shares during the period. Oakworth Capital Inc. acquired a new stake in shares of Southern Copper in the third quarter valued at about $42,000. Finally, Hanseatic Management Services Inc. acquired a new stake in shares of Southern Copper in the second quarter valued at about $53,000. 7.94% of the stock is currently owned by institutional investors and hedge funds.
Southern Copper Trading Down 2.0 %
SCCO stock traded down $2.06 during midday trading on Tuesday, reaching $102.70. 1,063,517 shares of the company's stock traded hands, compared to its average volume of 1,148,769. The company has a market capitalization of $80.67 billion, a P/E ratio of 26.99, a PEG ratio of 1.10 and a beta of 1.18. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.77 and a quick ratio of 2.31. Southern Copper Co. has a fifty-two week low of $70.13 and a fifty-two week high of $129.79. The business has a 50-day moving average price of $109.32 and a two-hundred day moving average price of $109.94.
Southern Copper Announces Dividend
The firm also recently declared a -- dividend, which will be paid on Thursday, November 21st. Shareholders of record on Wednesday, November 6th will be given 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 dividend payout ratio (DPR) is 72.09%.
Wall Street Analyst Weigh In
SCCO has been the subject of a number of recent research reports. 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. Citigroup boosted their target price 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. Finally, Morgan Stanley boosted their target price on shares of Southern Copper from $97.00 to $100.00 and gave the company an "underweight" rating in a report on Thursday, September 19th. Six investment 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. According to MarketBeat.com, Southern Copper presently has a consensus rating of "Hold" and a consensus target price of $90.63.
Get Our Latest Research Report on Southern Copper
Southern Copper Company Profile
(
Free Report)
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.
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