Modus Advisors LLC Invests $68,000 in Southern Copper Co. (NYSE:SCCO)

Modus Advisors LLC acquired a new stake in Southern Copper Co. (NYSE:SCCO) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 741 shares of the basic materials company’s stock, valued at approximately $68,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. M&T Bank Corp lifted its position in shares of Southern Copper by 0.5% during the 3rd quarter. M&T Bank Corp now owns 20,460 shares of the basic materials company’s stock valued at $2,367,000 after acquiring an additional 105 shares during the period. Ensign Peak Advisors Inc boosted its position in Southern Copper by 1.0% during the second quarter. Ensign Peak Advisors Inc now owns 10,558 shares of the basic materials company’s stock worth $1,138,000 after purchasing an additional 108 shares in the last quarter. Prudential PLC grew its holdings in Southern Copper by 1.0% in the second quarter. Prudential PLC now owns 10,667 shares of the basic materials company’s stock valued at $1,149,000 after purchasing an additional 109 shares during the last quarter. Tyche Wealth Partners LLC increased its position in shares of Southern Copper by 0.6% in the third quarter. Tyche Wealth Partners LLC now owns 19,685 shares of the basic materials company’s stock valued at $2,277,000 after buying an additional 109 shares in the last quarter. Finally, Greenwood Capital Associates LLC raised its stake in shares of Southern Copper by 0.7% during the 3rd quarter. Greenwood Capital Associates LLC now owns 15,722 shares of the basic materials company’s stock worth $1,819,000 after buying an additional 112 shares during the last quarter. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Southern Copper Stock Performance

Southern Copper stock opened at $92.01 on Friday. The stock has a fifty day moving average price of $101.48 and a 200 day moving average price of $105.24. The company has a current ratio of 2.77, a quick ratio of 2.31 and a debt-to-equity ratio of 0.64. Southern Copper Co. has a 52 week low of $77.14 and a 52 week high of $129.79. The firm has a market capitalization of $72.28 billion, a P/E ratio of 23.69, a PEG ratio of 1.56 and a beta of 1.14.

Southern Copper Announces Dividend

The business also recently disclosed a — dividend, which was paid on Thursday, November 21st. Stockholders of record on Wednesday, November 6th were issued a dividend of $0.62 per share. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a dividend yield of 2.1%. Southern Copper’s payout ratio is currently 72.16%.

Analysts Set New Price Targets

SCCO has been the subject of several recent research reports. Morgan Stanley upgraded shares of Southern Copper from an “underweight” rating to an “equal weight” rating and dropped their target price for the company from $106.30 to $102.00 in a report on Thursday, December 12th. Citigroup lifted their price objective on Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a research report on Wednesday, October 2nd. Scotiabank lowered their target price on Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating on the stock in a report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. raised Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price target for the company in a report on Monday, December 2nd. Four analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $94.81.

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.