1,958 Shares in Southern Copper Co. (NYSE:SCCO) Purchased by World Equity Group Inc.

World Equity Group Inc. acquired a new position in shares of Southern Copper Co. (NYSE:SCCO) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,958 shares of the basic materials company’s stock, valued at approximately $226,000.

Several other hedge funds have also recently bought and sold shares of the company. Fidelis Capital Partners LLC bought a new position in Southern Copper in the first quarter valued at approximately $26,000. Creative Financial Designs Inc. ADV increased its stake in shares of Southern Copper by 172.0% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 223 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 141 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new position in shares of Southern Copper during the 2nd quarter worth $31,000. McClarren Financial Advisors Inc. lifted its position in shares of 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. Finally, Oakworth Capital Inc. acquired a new stake in Southern Copper in the third quarter valued at about $42,000. 7.94% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on SCCO. Morgan Stanley boosted their target price on Southern Copper from $97.00 to $100.00 and gave the stock an “underweight” rating in a research note on Thursday, September 19th. Scotiabank dropped 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. UBS Group began coverage on shares of Southern Copper in a research note on Friday, July 12th. They set a “neutral” rating and a $120.00 target price on the stock. Finally, Citigroup boosted their target price on shares of Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a report on Wednesday, October 2nd. 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. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $90.63.

Southern Copper Price Performance

SCCO stock opened at $111.31 on Tuesday. Southern Copper Co. has a 1 year low of $68.93 and a 1 year high of $129.79. The stock has a market capitalization of $86.95 billion, a PE ratio of 28.66, a price-to-earnings-growth ratio of 1.13 and a beta of 1.18. The company’s 50-day moving average is $108.57 and its 200-day moving average is $109.99. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.77 and a quick ratio of 2.31.

Southern Copper Announces Dividend

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

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.