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

Metis Global Partners LLC lifted its holdings in Southern Copper Co. (NYSE:SCCO) by 41.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,654 shares of the basic materials company’s stock after purchasing an additional 1,373 shares during the quarter. Metis Global Partners LLC’s holdings in Southern Copper were worth $538,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Creative Financial Designs Inc. ADV raised 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 purchasing an additional 141 shares in the last quarter. Itau Unibanco Holding S.A. bought a new stake in shares of Southern Copper in the 2nd quarter worth $31,000. McClarren Financial Advisors Inc. boosted its stake in Southern Copper by 169.2% during the third quarter. McClarren Financial Advisors Inc. now owns 288 shares of the basic materials company’s stock valued at $33,000 after buying an additional 181 shares in the last quarter. Oakworth Capital Inc. acquired a new position in Southern Copper during the third quarter worth about $42,000. Finally, Planning Capital Management Corp bought a new stake in Southern Copper in the third quarter worth about $52,000. 7.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SCCO. 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 note on Tuesday, October 15th. Citigroup lifted their price target on shares of Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a research report on Wednesday, October 2nd. Finally, Morgan Stanley increased 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 equities 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $90.63.

Southern Copper Price Performance

Shares of NYSE:SCCO opened at $101.77 on Tuesday. The company’s fifty day moving average is $109.85 and its two-hundred day moving average is $109.39. The company has a market cap of $79.94 billion, a P/E ratio of 26.23, a price-to-earnings-growth ratio of 1.02 and a beta of 1.18. Southern Copper Co. has a 12-month low of $70.63 and a 12-month 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.

Southern Copper Announces Dividend

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