Prospera Private Wealth LLC Takes Position in Southern Copper Co. (NYSE:SCCO)

Prospera Private Wealth LLC acquired a new position in shares of Southern Copper Co. (NYSE:SCCO) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 409 shares of the basic materials company’s stock, valued at approximately $47,000.

A number of other hedge funds have also recently added to or reduced their stakes in SCCO. Cetera Investment Advisers boosted its holdings in shares of Southern Copper by 395.1% in the 1st quarter. Cetera Investment Advisers now owns 38,803 shares of the basic materials company’s stock valued at $4,133,000 after buying an additional 30,966 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Southern Copper by 18.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,771,332 shares of the basic materials company’s stock valued at $827,804,000 after acquiring an additional 1,192,111 shares during the period. Gateway Advisory LLC bought a new position in shares of Southern Copper during the second quarter valued at approximately $625,000. Lazard Asset Management LLC raised its position in shares of Southern Copper by 421.6% during the 1st quarter. Lazard Asset Management LLC now owns 155,265 shares of the basic materials company’s stock worth $16,538,000 after purchasing an additional 125,496 shares during the period. Finally, Toronto Dominion Bank lifted its holdings in shares of Southern Copper by 15.2% in the 1st quarter. Toronto Dominion Bank now owns 5,145 shares of the basic materials company’s stock worth $542,000 after purchasing an additional 679 shares during the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Morgan Stanley increased their target price on Southern Copper from $97.00 to $100.00 and gave the stock an “underweight” rating in a research report on Thursday, September 19th. Scotiabank reduced their target price 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 price target 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 investment 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 MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $90.63.

Southern Copper Price Performance

NYSE SCCO opened at $99.74 on Friday. The firm has a market capitalization of $78.35 billion, a PE ratio of 25.68, a P/E/G ratio of 1.07 and a beta of 1.18. 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 Co. has a 12 month low of $70.63 and a 12 month high of $129.79. The company’s 50 day simple moving average is $110.24 and its 200 day simple moving average is $109.08.

Southern Copper Announces Dividend

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