Caisse DE Depot ET Placement DU Quebec Buys Shares of 43,900 Southern Copper Co. (NYSE:SCCO)

Caisse DE Depot ET Placement DU Quebec acquired a new stake in Southern Copper Co. (NYSE:SCCO - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 43,900 shares of the basic materials company's stock, valued at approximately $5,078,000.

Several other hedge funds have also recently bought and sold shares of the company. Creative Financial Designs Inc. ADV lifted its position in shares of Southern Copper by 172.0% during the third quarter. Creative Financial Designs Inc. ADV now owns 223 shares of the basic materials company's stock worth $26,000 after purchasing an additional 141 shares in the last quarter. McClarren Financial Advisors Inc. lifted its holdings in Southern Copper by 169.2% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 288 shares of the basic materials company's stock worth $33,000 after buying an additional 181 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new position in Southern Copper in the 2nd quarter valued at approximately $31,000. Oakworth Capital Inc. acquired a new position in shares of Southern Copper in the third quarter worth $42,000. Finally, Larson Financial Group LLC raised its stake in shares of Southern Copper by 578.3% in the third quarter. Larson Financial Group LLC now owns 407 shares of the basic materials company's stock valued at $47,000 after acquiring an additional 347 shares in the last quarter. Institutional investors and hedge funds own 7.94% of the company's stock.

Southern Copper Stock Up 1.3 %

Southern Copper stock traded up $1.28 during trading on Tuesday, reaching $101.33. 872,935 shares of the company's stock were exchanged, compared to its average volume of 1,131,217. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.77. Southern Copper Co. has a 52-week low of $70.92 and a 52-week high of $129.79. The company's 50-day moving average is $109.72 and its two-hundred day moving average is $107.97. The firm has a market cap of $79.59 billion, a price-to-earnings ratio of 26.09, a PEG ratio of 1.55 and a beta of 1.14.

Southern Copper Dividend Announcement

The company also recently announced a -- dividend, which was paid on Thursday, November 21st. Shareholders of record on Wednesday, November 6th were issued a dividend of $0.62 per share. This represents a yield of 2.1%. The ex-dividend date of this dividend was Wednesday, November 6th. Southern Copper's dividend payout ratio is presently 72.09%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on SCCO shares. Morgan Stanley raised 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. 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. Scotiabank dropped their target price on Southern Copper from $54.00 to $52.00 and set a "sector underperform" rating on the stock in a report on Tuesday, October 15th. Finally, Citigroup raised their price objective 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. Five research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Southern Copper 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.