Diversify Advisory Services LLC Increases Position in Southern Copper Co. (NYSE:SCCO)

Diversify Advisory Services LLC lifted its stake in Southern Copper Co. (NYSE:SCCO) by 4.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,728 shares of the basic materials company’s stock after acquiring an additional 612 shares during the period. Diversify Advisory Services LLC’s holdings in Southern Copper were worth $1,687,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in SCCO. Fidelis Capital Partners LLC acquired a new stake in Southern Copper in the first quarter valued at approximately $26,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Southern Copper in the 2nd quarter worth $31,000. McClarren Financial Advisors Inc. grew its stake in Southern Copper by 169.2% during the 3rd 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. Oakworth Capital Inc. acquired a new position in Southern Copper during the 3rd quarter valued at about $42,000. Finally, Hanseatic Management Services Inc. purchased a new stake in Southern Copper in the second quarter valued at about $53,000. 7.94% of the stock is currently owned by hedge funds and other institutional investors.

Southern Copper Stock Performance

Shares of SCCO stock opened at $114.40 on Wednesday. Southern Copper Co. has a 52-week low of $68.93 and a 52-week high of $129.79. The company has a quick ratio of 2.27, a current ratio of 2.81 and a debt-to-equity ratio of 0.67. The stock has a market cap of $89.36 billion, a PE ratio of 29.48, a price-to-earnings-growth ratio of 1.18 and a beta of 1.18. The business has a 50-day simple moving average of $108.03 and a 200-day simple moving average of $110.09.

Southern Copper Dividend Announcement

The business also recently declared a — dividend, which will be paid on Thursday, November 21st. Shareholders of record on Wednesday, November 6th will be issued a $0.62 dividend. This represents a yield of 2.1%. The ex-dividend date is Wednesday, November 6th. Southern Copper’s payout ratio is presently 72.16%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Citigroup boosted their price target on Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a research note on Wednesday, October 2nd. UBS Group assumed coverage on Southern Copper in a research report on Friday, July 12th. They issued a “neutral” rating and a $120.00 target price on the stock. Morgan Stanley lifted their price target on Southern Copper from $97.00 to $100.00 and gave the stock an “underweight” rating in a research report on Thursday, September 19th. Finally, Scotiabank cut their price objective 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. Six investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $90.63.

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.