Southern Copper Co. (NYSE:SCCO) Shares Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc grew its position in shares of Southern Copper Co. (NYSE:SCCO) by 4.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 24,503 shares of the basic materials company’s stock after buying an additional 935 shares during the quarter. CIBC Asset Management Inc’s holdings in Southern Copper were worth $2,834,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Creative Financial Designs Inc. ADV boosted its holdings in Southern Copper by 172.0% during the third quarter. Creative Financial Designs Inc. ADV now owns 223 shares of the basic materials company’s stock worth $26,000 after buying an additional 141 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new position in shares of Southern Copper in the second quarter valued at $31,000. McClarren Financial Advisors Inc. grew its stake in Southern Copper by 169.2% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 288 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 181 shares during the last quarter. Oakworth Capital Inc. purchased a new position in Southern Copper during the 3rd quarter valued at about $42,000. Finally, Planning Capital Management Corp acquired a new position in Southern Copper during the third quarter worth about $52,000. Institutional investors and hedge funds own 7.94% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on SCCO. Scotiabank reduced their target price on Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating on the stock in a research note on Tuesday, October 15th. Citigroup raised their price target on shares of Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a research note on Wednesday, October 2nd. Finally, Morgan Stanley lifted their price objective on Southern Copper from $97.00 to $100.00 and gave the company an “underweight” rating in a research report on Thursday, September 19th. Six research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Southern Copper currently has an average rating of “Hold” and a consensus price target of $90.63.

Southern Copper Price Performance

Shares of SCCO stock opened at $101.77 on Tuesday. Southern Copper Co. has a twelve month low of $70.63 and a twelve month high of $129.79. The company has a market capitalization of $79.94 billion, a PE ratio of 26.23, a price-to-earnings-growth ratio of 1.02 and a beta of 1.18. The company has a current ratio of 2.77, a quick ratio of 2.31 and a debt-to-equity ratio of 0.64. The firm has a fifty day simple moving average of $109.85 and a 200-day simple moving average of $109.39.

Southern Copper Announces Dividend

The business also recently declared a — dividend, which will be paid on Thursday, November 21st. Investors of record on Wednesday, November 6th will be paid a $0.62 dividend. The ex-dividend date is Wednesday, November 6th. This represents a dividend yield of 2.1%. Southern Copper’s dividend payout ratio (DPR) 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.