Morse Asset Management Inc Makes New Investment in Southern Copper Co. (NYSE:SCCO)

Morse Asset Management Inc bought a new position in shares of Southern Copper Co. (NYSE:SCCO - Free Report) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 12,080 shares of the basic materials company's stock, valued at approximately $1,397,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Cetera Investment Advisers grew its position in shares of 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 purchasing an additional 30,966 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Southern Copper by 7.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 230,495 shares of the basic materials company's stock worth $26,661,000 after buying 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. BNP Paribas Financial Markets grew its position in Southern Copper by 1,601.3% during the third quarter. BNP Paribas Financial Markets now owns 192,571 shares of the basic materials company's stock worth $22,275,000 after buying an additional 181,252 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. acquired a new stake in Southern Copper during the third quarter worth approximately $2,289,000. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Scotiabank reduced their price objective on Southern Copper from $54.00 to $52.00 and set a "sector underperform" rating on the stock in a research note on Tuesday, October 15th. Citigroup raised their target price on shares of Southern Copper from $99.44 to $100.00 and gave the company a "sell" rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. raised Southern Copper from an "underweight" rating to a "neutral" rating and set a $92.50 price objective on the stock in a report on Monday. Finally, Morgan Stanley raised their price objective on Southern Copper from $97.00 to $100.00 and gave the company an "underweight" rating in a report on Thursday, September 19th. Five analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $94.56.

Southern Copper Trading Down 0.1 %

Shares of Southern Copper stock traded down $0.11 during trading on Wednesday, reaching $101.22. 598,256 shares of the stock were exchanged, compared to its average volume of 1,127,925. Southern Copper Co. has a 1 year low of $70.92 and a 1 year 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 stock's fifty day moving average is $109.72 and its 200 day moving average is $107.97. The firm has a market cap of $79.51 billion, a price-to-earnings ratio of 26.22, a price-to-earnings-growth ratio of 1.55 and a beta of 1.14.

Southern Copper Dividend Announcement

The business also recently disclosed a -- dividend, which was paid on Thursday, November 21st. Shareholders 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 yield of 2.1%. Southern Copper's dividend payout ratio (DPR) is presently 72.09%.

Southern Copper Company 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.