Beck Capital Management LLC Makes New Investment in Southern Copper Co. (NYSE:SCCO)

Beck Capital Management LLC acquired a new position in shares of Southern Copper Co. (NYSE:SCCO - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 12,023 shares of the basic materials company's stock, valued at approximately $1,391,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SCCO. Cetera Investment Advisers grew its holdings in Southern Copper by 395.1% during the 1st quarter. Cetera Investment Advisers now owns 38,803 shares of the basic materials company's stock worth $4,133,000 after acquiring an additional 30,966 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Southern Copper by 7.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 230,495 shares of the basic materials company's stock valued at $26,661,000 after purchasing an additional 15,386 shares in the last quarter. Gateway Advisory LLC acquired a new stake in Southern Copper during the second quarter worth approximately $625,000. Oppenheimer Asset Management Inc. bought a new stake in Southern Copper in the third quarter worth approximately $2,289,000. Finally, IFM Investors Pty Ltd lifted its stake in Southern Copper by 100.4% in the third quarter. IFM Investors Pty Ltd now owns 11,468 shares of the basic materials company's stock valued at $1,327,000 after buying an additional 5,746 shares during the period. 7.94% of the stock is owned by institutional investors and hedge funds.

Southern Copper Stock Down 0.3 %

Shares of NYSE:SCCO traded down $0.26 during midday trading on Monday, hitting $100.09. 808,342 shares of the company's stock were exchanged, compared to its average volume of 1,132,310. 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 12 month low of $70.92 and a 12 month high of $129.79. The company has a market cap of $78.62 billion, a PE ratio of 25.79, a price-to-earnings-growth ratio of 1.55 and a beta of 1.18. The stock has a 50 day moving average price of $110.08 and a 200-day moving average price of $108.28.

Southern Copper Dividend Announcement

The business also recently announced a -- dividend, which was paid on Thursday, November 21st. Stockholders of record on Wednesday, November 6th were issued a $0.62 dividend. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a dividend yield of 2.1%. Southern Copper's dividend payout ratio is presently 72.16%.

Analysts Set New Price Targets

Several brokerages have recently commented on SCCO. JPMorgan Chase & Co. raised shares of Southern Copper from an "underweight" rating to a "neutral" rating and set a $92.50 price objective for the company in a research report on Monday. Morgan Stanley raised their price target on shares of Southern Copper from $97.00 to $100.00 and gave the stock an "underweight" rating in a report on Thursday, September 19th. Citigroup upped their price objective 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, Scotiabank reduced their target price 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. Five research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $94.56.

About Southern Copper

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.