Nwam LLC Purchases Shares of 1,758 Southern Copper Co. (NYSE:SCCO)

Nwam LLC purchased a new position in Southern Copper Co. (NYSE:SCCO) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,758 shares of the basic materials company’s stock, valued at approximately $203,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in SCCO. Empower Advisory Group LLC raised its holdings in shares of Southern Copper by 3.3% in the 3rd quarter. Empower Advisory Group LLC now owns 1,004,060 shares of the basic materials company’s stock valued at $116,140,000 after acquiring an additional 32,314 shares in the last quarter. Marathon Asset Management Ltd lifted its position in Southern Copper by 2.9% during the third quarter. Marathon Asset Management Ltd now owns 788,672 shares of the basic materials company’s stock valued at $91,226,000 after purchasing an additional 22,437 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Southern Copper by 0.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 630,579 shares of the basic materials company’s stock worth $67,939,000 after buying an additional 4,580 shares in the last quarter. Los Angeles Capital Management LLC increased its holdings in shares of Southern Copper by 21.7% in the 3rd quarter. Los Angeles Capital Management LLC now owns 539,495 shares of the basic materials company’s stock worth $62,403,000 after buying an additional 96,210 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Southern Copper by 0.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 375,173 shares of the basic materials company’s stock valued at $40,424,000 after buying an additional 1,910 shares in the last quarter. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Scotiabank reduced their target price on Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating on the stock in a research note on Tuesday, October 15th. Morgan Stanley increased their price objective on Southern Copper from $97.00 to $100.00 and gave the company an “underweight” rating in a research report on Thursday, September 19th. Finally, Citigroup boosted their target price on Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a research report on Wednesday, October 2nd. Six analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Southern Copper presently has a consensus rating of “Hold” and a consensus target price of $90.63.

Southern Copper Stock Performance

NYSE:SCCO opened at $102.01 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. Southern Copper Co. has a fifty-two week low of $70.63 and a fifty-two week high of $129.79. The firm has a market cap of $80.13 billion, a PE ratio of 26.26, a price-to-earnings-growth ratio of 1.03 and a beta of 1.18. The business has a 50 day moving average price of $110.29 and a 200-day moving average price of $108.90.

Southern Copper Dividend Announcement

The company also recently declared a — dividend, which was paid on Thursday, November 21st. Shareholders of record on Wednesday, November 6th were issued a $0.62 dividend. This represents a yield of 2.1%. The ex-dividend date was Wednesday, November 6th. Southern Copper’s dividend payout ratio (DPR) is presently 72.09%.

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.