Sanctuary Advisors LLC Raises Stock Position in Southern Copper Co. (NYSE:SCCO)

Sanctuary Advisors LLC increased its holdings in shares of Southern Copper Co. (NYSE:SCCO - Free Report) by 488.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,787 shares of the basic materials company's stock after acquiring an additional 25,559 shares during the quarter. Sanctuary Advisors LLC's holdings in Southern Copper were worth $3,561,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Creative Financial Designs Inc. ADV raised its holdings in shares of Southern Copper by 172.0% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 223 shares of the basic materials company's stock valued at $26,000 after buying an additional 141 shares during the period. Itau Unibanco Holding S.A. acquired a new position in shares of Southern Copper during the second quarter worth about $31,000. McClarren Financial Advisors Inc. raised its holdings 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 valued at $33,000 after purchasing an additional 181 shares in the last quarter. Oakworth Capital Inc. purchased a new position in Southern Copper in the third quarter valued at $42,000. Finally, Prospera Private Wealth LLC purchased a new stake in Southern Copper during the third quarter worth approximately $47,000. Institutional investors and hedge funds own 7.94% of the company's stock.

Southern Copper Trading Down 0.7 %

SCCO traded down $0.65 during trading on Tuesday, hitting $96.74. The company's stock had a trading volume of 868,467 shares, compared to its average volume of 1,118,481. Southern Copper Co. has a twelve month low of $77.14 and a twelve month high of $129.79. The firm's 50 day moving average price is $106.94 and its 200-day moving average price is $106.77. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.77 and a quick ratio of 2.31. The stock has a market cap of $75.99 billion, a PE ratio of 24.84, a PEG ratio of 1.56 and a beta of 1.14.

Southern Copper Dividend Announcement

The firm also recently declared a -- dividend, which was paid on Thursday, November 21st. Shareholders of record on Wednesday, November 6th were issued a $0.62 dividend. This represents a yield of 2.1%. The ex-dividend date was Wednesday, November 6th. Southern Copper's dividend payout ratio (DPR) is 72.16%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SCCO. Morgan Stanley upgraded Southern Copper from an "underweight" rating to an "equal weight" rating and reduced their price objective for the company from $106.30 to $102.00 in a research note on Thursday, December 12th. Citigroup lifted their target price on Southern Copper from $99.44 to $100.00 and gave the company a "sell" rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. upgraded Southern Copper from an "underweight" rating to a "neutral" rating and set a $92.50 price target for the company in a research note on Monday, December 2nd. Finally, Scotiabank cut 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. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $94.81.

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.