Southern Copper Co. (NYSE:SCCO) Shares Purchased by Cerity Partners LLC

Cerity Partners LLC boosted its holdings in shares of Southern Copper Co. (NYSE:SCCO) by 30.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,516 shares of the basic materials company’s stock after buying an additional 3,193 shares during the period. Cerity Partners LLC’s holdings in Southern Copper were worth $1,563,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SCCO. Nwam LLC acquired a new position in Southern Copper in the 3rd quarter worth approximately $203,000. Citigroup Inc. grew its position in Southern Copper by 3.3% during the 3rd quarter. Citigroup Inc. now owns 199,978 shares of the basic materials company’s stock worth $23,131,000 after purchasing an additional 6,436 shares during the period. Altman Advisors Inc. raised its stake in shares of Southern Copper by 3.3% during the 3rd quarter. Altman Advisors Inc. now owns 12,625 shares of the basic materials company’s stock valued at $1,460,000 after buying an additional 399 shares during the last quarter. SCP Investment LP acquired a new position in shares of Southern Copper in the 3rd quarter valued at about $334,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Southern Copper by 7.2% in 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 during the last quarter. 7.94% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SCCO has been the subject of a number of analyst reports. Citigroup boosted their price target on Southern Copper from $99.44 to $100.00 and gave the company a “sell” rating in a report on Wednesday, October 2nd. Morgan Stanley boosted their target price on shares of Southern Copper from $97.00 to $100.00 and gave the company an “underweight” rating in a research note on Thursday, September 19th. Scotiabank dropped their price target 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. Finally, JPMorgan Chase & Co. raised shares of Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 target price on the stock in a research note on Monday. Five equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $94.56.

Southern Copper Stock Performance

Shares of NYSE:SCCO opened at $100.05 on Tuesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.77 and a quick ratio of 2.31. Southern Copper Co. has a 1 year low of $70.92 and a 1 year high of $129.79. The firm has a market capitalization of $78.59 billion, a PE ratio of 25.79, a P/E/G ratio of 1.55 and a beta of 1.18. The business’s 50 day moving average price is $110.08 and its 200-day moving average price is $108.28.

Southern Copper Announces Dividend

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

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.