Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Southern Copper Co. (NYSE:SCCO - Free Report) by 7.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 230,495 shares of the basic materials company's stock after acquiring an additional 15,386 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in Southern Copper were worth $26,661,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SCCO. Creative Financial Designs Inc. ADV raised its holdings in shares of 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 in the last quarter. Itau Unibanco Holding S.A. bought a new position in Southern Copper during the second quarter valued at $31,000. McClarren Financial Advisors Inc. grew its stake in shares of Southern Copper by 169.2% in 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. Oakworth Capital Inc. purchased a new stake in shares of Southern Copper during the 3rd quarter valued at about $42,000. Finally, Prospera Private Wealth LLC purchased a new position in Southern Copper in the third quarter worth about $47,000. Institutional investors own 7.94% of the company's stock.
Southern Copper Stock Performance
Shares of SCCO traded down $2.00 during trading hours on Thursday, reaching $101.00. 115,279 shares of the company traded hands, compared to its average volume of 1,134,569. The business has a fifty day moving average price of $110.17 and a 200-day moving average price of $109.27. 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 stock has a market capitalization of $79.34 billion, a P/E ratio of 26.51, a P/E/G ratio of 1.07 and a beta of 1.18. Southern Copper Co. has a 12-month low of $70.63 and a 12-month high of $129.79.
Southern Copper Dividend Announcement
The firm also recently announced a -- dividend, which will be paid on Thursday, November 21st. Investors of record on Wednesday, November 6th will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a dividend yield of 2.1%. Southern Copper's dividend payout ratio (DPR) is presently 72.09%.
Wall Street Analyst Weigh In
SCCO has been the topic of a number of recent analyst reports. Citigroup increased their target price on Southern Copper from $99.44 to $100.00 and gave the stock a "sell" rating in a research note on Wednesday, October 2nd. Morgan Stanley boosted their price objective on shares of Southern Copper from $97.00 to $100.00 and gave the company an "underweight" rating in a research report on Thursday, September 19th. Finally, Scotiabank reduced their target price on shares of 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 issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Southern Copper has a consensus rating of "Hold" and an average target price of $90.63.
View Our Latest Analysis on SCCO
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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