Townsquare Capital LLC Increases Stake in Southern Copper Co. (NYSE:SCCO)

Townsquare Capital LLC boosted its stake in shares of Southern Copper Co. (NYSE:SCCO) by 48.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,687 shares of the basic materials company’s stock after purchasing an additional 2,845 shares during the period. Townsquare Capital LLC’s holdings in Southern Copper were worth $1,005,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Creative Financial Designs Inc. ADV lifted its holdings in shares of 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 during the period. Itau Unibanco Holding S.A. purchased a new stake in shares of Southern Copper in the 2nd quarter valued at $31,000. McClarren Financial Advisors Inc. boosted its holdings in shares of 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. acquired a new stake in shares of Southern Copper in the third quarter worth $42,000. Finally, Prospera Private Wealth LLC purchased a new position in shares of Southern Copper during the third quarter worth $47,000. Institutional investors and hedge funds own 7.94% of the company’s stock.

Southern Copper Price Performance

Southern Copper stock opened at $100.05 on Tuesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.77. The company’s fifty day moving average price is $110.08 and its 200 day moving average price is $108.28. The stock has a market capitalization of $78.59 billion, a P/E ratio of 25.79, a P/E/G ratio of 1.55 and a beta of 1.18. Southern Copper Co. has a 1 year low of $70.92 and a 1 year high of $129.79.

Southern Copper Announces Dividend

The business also recently declared a — dividend, which was paid on Thursday, November 21st. Investors of record on Wednesday, November 6th were given a dividend of $0.62 per share. The ex-dividend date was Wednesday, November 6th. This represents a dividend yield of 2.1%. Southern Copper’s dividend payout ratio (DPR) is presently 72.16%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SCCO. JPMorgan Chase & Co. raised Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price objective for the company in a report on Monday. Scotiabank lowered their price objective 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. Morgan Stanley lifted their target price on shares of Southern Copper from $97.00 to $100.00 and gave the company an “underweight” rating in a report on Thursday, September 19th. Finally, Citigroup boosted their target price on shares of Southern Copper from $99.44 to $100.00 and gave the company a “sell” rating in a research note on Wednesday, October 2nd. Five research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Southern Copper presently has a consensus rating of “Hold” and a consensus price target of $94.56.

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.