741 Shares in Southern Copper Co. (NYSE:SCCO) Acquired by Modus Advisors LLC

Modus Advisors LLC acquired a new stake in Southern Copper Co. (NYSE:SCCO) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 741 shares of the basic materials company’s stock, valued at approximately $68,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in 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 valued at $26,661,000 after purchasing an additional 15,386 shares in the last quarter. Two Sigma Advisers LP grew its position in shares of Southern Copper by 384.4% in the 3rd quarter. Two Sigma Advisers LP now owns 90,173 shares of the basic materials company’s stock valued at $10,430,000 after buying an additional 71,558 shares during the last quarter. Morse Asset Management Inc purchased a new stake in Southern Copper in the third quarter valued at $1,397,000. Gateway Advisory LLC acquired a new position in Southern Copper in the second quarter valued at $625,000. Finally, BNP Paribas Financial Markets grew its holdings in shares of 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 purchasing an additional 181,252 shares during the last quarter. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Southern Copper Stock Down 0.2 %

Shares of NYSE:SCCO opened at $92.01 on Friday. Southern Copper Co. has a fifty-two week low of $77.14 and a fifty-two week 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 firm’s 50-day simple moving average is $101.48 and its 200-day simple moving average is $105.24. The company has a market cap of $72.28 billion, a price-to-earnings ratio of 23.69, a PEG ratio of 1.56 and a beta of 1.14.

Southern Copper Announces Dividend

The firm also recently announced a — dividend, which was paid on Thursday, November 21st. Shareholders of record on Wednesday, November 6th were given 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 payout ratio is 72.16%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SCCO. Morgan Stanley raised Southern Copper from an “underweight” rating to an “equal weight” rating and decreased their target price for the company from $106.30 to $102.00 in a research report on Thursday, December 12th. JPMorgan Chase & Co. upgraded 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 report on Monday, December 2nd. Citigroup upped 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 objective 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. Four research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Southern Copper currently has a consensus rating of “Hold” and a consensus price target of $94.81.

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.