D.A. Davidson & CO. grew its position in shares of Southern Copper Co. (NYSE:SCCO – Free Report) by 2.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,775 shares of the basic materials company’s stock after purchasing an additional 466 shares during the period. D.A. Davidson & CO.’s holdings in Southern Copper were worth $2,634,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in SCCO. California State Teachers Retirement System raised its stake in Southern Copper by 21.6% during the first quarter. California State Teachers Retirement System now owns 122,280 shares of the basic materials company’s stock valued at $13,025,000 after purchasing an additional 21,755 shares in the last quarter. Comerica Bank lifted its holdings in shares of Southern Copper by 4.3% in the 1st quarter. Comerica Bank now owns 17,694 shares of the basic materials company’s stock valued at $1,885,000 after acquiring an additional 735 shares during the last quarter. Virtu Financial LLC purchased a new position in Southern Copper in the first quarter worth about $554,000. Cetera Investment Advisers increased its stake in Southern Copper by 395.1% during the first quarter. Cetera Investment Advisers now owns 38,803 shares of the basic materials company’s stock worth $4,133,000 after acquiring an additional 30,966 shares during the last quarter. Finally, Cetera Advisors LLC raised its position in Southern Copper by 62.2% during the first quarter. Cetera Advisors LLC now owns 5,671 shares of the basic materials company’s stock valued at $604,000 after purchasing an additional 2,174 shares during the period. 7.94% of the stock is owned by institutional investors.
Southern Copper Trading Up 0.6 %
Shares of SCCO opened at $100.35 on Friday. The firm has a market capitalization of $78.83 billion, a price-to-earnings ratio of 25.84, a PEG ratio of 1.54 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 1-year low of $70.92 and a 1-year high of $129.79. The company has a 50-day moving average of $110.08 and a 200 day moving average of $108.49.
Southern Copper Announces Dividend
Wall Street Analyst Weigh In
A number of brokerages have recently commented on SCCO. Citigroup lifted their target price on Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a report on Wednesday, October 2nd. Morgan Stanley boosted their price objective on shares of Southern Copper from $97.00 to $100.00 and gave the company an “underweight” rating in a research report on Thursday, September 19th. Finally, Scotiabank lowered 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 report on Tuesday, October 15th. Six analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $90.63.
View Our Latest Report on Southern Copper
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.
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