Tidal Investments LLC Has $8.26 Million Stock Position in Southern Copper Co. (NYSE:SCCO)

Tidal Investments LLC raised its stake in Southern Copper Co. (NYSE:SCCO - Free Report) by 30.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 71,376 shares of the basic materials company's stock after buying an additional 16,805 shares during the quarter. Tidal Investments LLC's holdings in Southern Copper were worth $8,256,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Triad Wealth Partners LLC acquired a new position in Southern Copper in the 2nd quarter worth $132,000. Outlook Wealth Advisors LLC acquired a new stake in Southern Copper in the 2nd quarter valued at approximately $319,000. Blue Trust Inc. raised its position in Southern Copper by 215.4% in the 2nd quarter. Blue Trust Inc. now owns 1,126 shares of the basic materials company's stock valued at $120,000 after buying an additional 769 shares during the last quarter. Brookstone Capital Management bought a new stake in Southern Copper in the 2nd quarter valued at approximately $320,000. Finally, Tyche Wealth Partners LLC boosted its position in Southern Copper by 1.0% during the 2nd quarter. Tyche Wealth Partners LLC now owns 19,576 shares of the basic materials company's stock worth $2,109,000 after acquiring an additional 201 shares during the last quarter. Institutional investors and hedge funds own 7.94% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on SCCO. Morgan Stanley raised shares of Southern Copper from an "underweight" rating to an "equal weight" rating and cut their price objective for the stock from $106.30 to $102.00 in a research report on Thursday. JPMorgan Chase & Co. raised shares of Southern Copper from an "underweight" rating to a "neutral" rating and set a $92.50 price target on the stock in a research report on Monday, December 2nd. Citigroup raised their price objective on Southern Copper from $99.44 to $100.00 and gave the company a "sell" rating in a report on Wednesday, October 2nd. Finally, 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. Four research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $94.81.

Southern Copper Stock Performance

Southern Copper stock traded down $1.52 during midday trading on Friday, reaching $100.01. 509,273 shares of the company's stock were exchanged, compared to its average volume of 1,119,667. The stock's 50-day simple moving average is $107.70 and its 200 day simple moving average is $107.23. The firm has a market cap of $78.56 billion, a price-to-earnings ratio of 25.74, a P/E/G ratio of 1.61 and a beta of 1.14. 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 $77.14 and a 52 week high of $129.79.

Southern Copper Dividend Announcement

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

Southern Copper 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.