Southern Copper Co. (NYSE:SCCO) Shares Purchased by Townsquare Capital LLC

Townsquare Capital LLC boosted its stake in shares of Southern Copper Co. (NYSE:SCCO) by 48.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 8,687 shares of the basic materials company’s stock after purchasing an additional 2,845 shares during the quarter. Townsquare Capital LLC’s holdings in Southern Copper were worth $1,005,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Cetera Investment Advisers raised its position in shares of Southern Copper by 395.1% during the 1st quarter. Cetera Investment Advisers now owns 38,803 shares of the basic materials company’s stock valued at $4,133,000 after buying an additional 30,966 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in Southern Copper by 7.2% during 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 acquiring an additional 15,386 shares during the last quarter. Gateway Advisory LLC purchased a new stake in Southern Copper in the second quarter valued at $625,000. Oppenheimer Asset Management Inc. acquired a new position in shares of Southern Copper in the 3rd quarter valued at $2,289,000. Finally, Citigroup Inc. grew its holdings in shares of 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. 7.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SCCO has been the topic of several research analyst reports. Citigroup boosted their price objective on shares of 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 price target 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. JPMorgan Chase & Co. raised shares of Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price objective for the company in a research report on Monday. Finally, Scotiabank cut their target price on 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. Five analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $94.56.

Southern Copper Price Performance

Shares of SCCO opened at $100.05 on Tuesday. The company has a market cap of $78.59 billion, a P/E ratio of 25.79, a PEG ratio of 1.55 and a beta of 1.18. Southern Copper Co. has a fifty-two week low of $70.92 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 moving average price is $110.08 and its 200 day moving average price is $108.28.

Southern Copper Dividend Announcement

The business also recently disclosed a — dividend, which was paid on Thursday, November 21st. Stockholders of record on Wednesday, November 6th were paid a $0.62 dividend. 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 currently 72.16%.

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.