Southern Copper Co. (NYSE:SCCO) Stock Position Raised by HMS Capital Management LLC

HMS Capital Management LLC lifted its holdings in Southern Copper Co. (NYSE:SCCO) by 5.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,388 shares of the basic materials company’s stock after buying an additional 131 shares during the period. HMS Capital Management LLC’s holdings in Southern Copper were worth $276,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Ensign Peak Advisors Inc grew its stake in shares of Southern Copper by 1.0% in the 2nd quarter. Ensign Peak Advisors Inc now owns 10,558 shares of the basic materials company’s stock valued at $1,138,000 after buying an additional 108 shares in the last quarter. Prudential PLC increased its stake in shares of Southern Copper by 1.0% during the 2nd quarter. Prudential PLC now owns 10,667 shares of the basic materials company’s stock worth $1,149,000 after purchasing an additional 109 shares during the last quarter. Tyche Wealth Partners LLC raised its holdings in shares of Southern Copper by 0.6% during the 3rd quarter. Tyche Wealth Partners LLC now owns 19,685 shares of the basic materials company’s stock valued at $2,277,000 after purchasing an additional 109 shares in the last quarter. Greenwood Capital Associates LLC lifted its stake in shares of Southern Copper by 0.7% in the 3rd quarter. Greenwood Capital Associates LLC now owns 15,722 shares of the basic materials company’s stock valued at $1,819,000 after purchasing an additional 112 shares during the last quarter. Finally, Inspire Advisors LLC boosted its holdings in Southern Copper by 3.9% in the third quarter. Inspire Advisors LLC now owns 3,001 shares of the basic materials company’s stock worth $347,000 after purchasing an additional 113 shares in the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Southern Copper Trading Up 2.4 %

Shares of SCCO stock opened at $114.02 on Wednesday. The firm has a market capitalization of $89.07 billion, a P/E ratio of 29.35, a price-to-earnings-growth ratio of 1.13 and a beta of 1.18. Southern Copper Co. has a 1 year low of $68.93 and a 1 year high of $129.79. The firm’s fifty day simple moving average is $108.74 and its 200 day simple moving average is $109.99. 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 Dividend Announcement

The business also recently announced a — dividend, which will be paid on Thursday, November 21st. Investors of record on Wednesday, November 6th will be paid a $0.62 dividend. This represents a dividend yield of 2.1%. The ex-dividend date of this dividend is Wednesday, November 6th. Southern Copper’s payout ratio is presently 61.79%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on SCCO shares. UBS Group started coverage on Southern Copper in a report on Friday, July 12th. They set a “neutral” rating and a $120.00 target price on the stock. 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. Citigroup increased their price target on Southern Copper from $99.44 to $100.00 and gave the company a “sell” rating in a report on Wednesday, October 2nd. Finally, 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. Six investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $90.63.

Southern Copper Profile

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.