Beck Capital Management LLC Buys Shares of 12,023 Southern Copper Co. (NYSE:SCCO)

Beck Capital Management LLC purchased a new position in shares of Southern Copper Co. (NYSE:SCCO) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 12,023 shares of the basic materials company’s stock, valued at approximately $1,391,000.

Other hedge funds also recently modified their holdings of the company. Creative Financial Designs Inc. ADV boosted its holdings in Southern Copper by 172.0% in 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. McClarren Financial Advisors Inc. lifted its position in shares of Southern Copper by 169.2% in the third quarter. McClarren Financial Advisors Inc. now owns 288 shares of the basic materials company’s stock worth $33,000 after buying an additional 181 shares during the last quarter. Itau Unibanco Holding S.A. bought a new stake in shares of Southern Copper during the 2nd quarter worth about $31,000. Oakworth Capital Inc. bought a new stake in shares of Southern Copper during the 3rd quarter worth about $42,000. Finally, Larson Financial Group LLC increased its holdings in shares of Southern Copper by 578.3% during the 3rd quarter. Larson Financial Group LLC now owns 407 shares of the basic materials company’s stock valued at $47,000 after acquiring an additional 347 shares during the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Analysts Set New Price Targets

SCCO has been the subject of several analyst reports. Morgan Stanley boosted their target price on Southern Copper from $97.00 to $100.00 and gave the stock an “underweight” rating in a report on Thursday, September 19th. Scotiabank reduced their price objective on shares of Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating for the company in a research note on Tuesday, October 15th. Finally, Citigroup raised 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. Six equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $90.63.

Southern Copper Trading Up 0.6 %

Shares of SCCO stock opened at $100.35 on Monday. The firm has a market capitalization of $78.83 billion, a P/E ratio of 25.86, a price-to-earnings-growth 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. The firm’s fifty day simple moving average is $110.08 and its 200 day simple moving average is $108.28. 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 Announces Dividend

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