Larson Financial Group LLC Raises Stake in Southern Copper Co. (NYSE:SCCO)

Larson Financial Group LLC grew its holdings in Southern Copper Co. (NYSE:SCCO) by 578.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 407 shares of the basic materials company’s stock after acquiring an additional 347 shares during the quarter. Larson Financial Group LLC’s holdings in Southern Copper were worth $47,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in SCCO. Los Angeles Capital Management LLC raised its stake in Southern Copper by 1,300.4% during the 2nd quarter. Los Angeles Capital Management LLC now owns 443,285 shares of the basic materials company’s stock valued at $47,760,000 after acquiring an additional 411,630 shares during the last quarter. International Assets Investment Management LLC grew its holdings in Southern Copper by 11,510.5% during the third quarter. International Assets Investment Management LLC now owns 189,716 shares of the basic materials company’s stock worth $21,944,000 after acquiring an additional 188,082 shares during the period. Quantbot Technologies LP purchased a new position in Southern Copper in the second quarter worth $11,142,000. Van ECK Associates Corp lifted its holdings in Southern Copper by 30.2% in the second quarter. Van ECK Associates Corp now owns 297,536 shares of the basic materials company’s stock valued at $32,057,000 after acquiring an additional 68,944 shares during the period. Finally, Decade Renewable Partners LP purchased a new stake in shares of Southern Copper during the 2nd quarter worth $6,755,000. Institutional investors and hedge funds own 7.94% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on SCCO shares. Morgan Stanley raised their price objective 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. Citigroup lifted their price target 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. Finally, Scotiabank lowered their price target 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. Six 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 company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $90.63.

Southern Copper Stock Up 0.6 %

Shares of NYSE SCCO opened at $100.35 on Friday. 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 firm’s 50-day moving average is $110.08 and its two-hundred day moving average is $108.49. Southern Copper Co. has a 12-month low of $70.92 and a 12-month high of $129.79. The company has a market capitalization of $78.83 billion, a PE ratio of 25.84, a price-to-earnings-growth ratio of 1.54 and a beta of 1.18.

Southern Copper Dividend Announcement

The business also recently announced a — dividend, which was paid on Thursday, November 21st. Shareholders of record on Wednesday, November 6th were issued a dividend of $0.62 per share. This represents a yield of 2.1%. The ex-dividend date was Wednesday, November 6th. Southern Copper’s dividend payout ratio (DPR) is presently 72.09%.

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.