Southern Copper Co. (NYSE:SCCO) Position Increased by BNP Paribas Financial Markets

BNP Paribas Financial Markets raised its stake in Southern Copper Co. (NYSE:SCCO) by 1,601.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 192,571 shares of the basic materials company’s stock after buying an additional 181,252 shares during the period. BNP Paribas Financial Markets’ holdings in Southern Copper were worth $22,275,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of SCCO. California State Teachers Retirement System lifted its holdings in shares of 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 during the last quarter. Comerica Bank lifted its stake in Southern Copper by 4.3% during the first quarter. Comerica Bank now owns 17,694 shares of the basic materials company’s stock valued at $1,885,000 after buying an additional 735 shares in the last quarter. Virtu Financial LLC purchased a new stake in Southern Copper during the first quarter valued at about $554,000. Cetera Investment Advisers boosted its holdings in shares of Southern Copper by 395.1% in the first quarter. Cetera Investment Advisers now owns 38,803 shares of the basic materials company’s stock worth $4,133,000 after buying an additional 30,966 shares during the period. Finally, Cetera Advisors LLC increased its position in shares of Southern Copper by 62.2% in the first quarter. Cetera Advisors LLC now owns 5,671 shares of the basic materials company’s stock worth $604,000 after acquiring an additional 2,174 shares in the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Southern Copper Stock Up 0.6 %

SCCO stock opened at $100.35 on Friday. The company has a 50 day moving average of $110.08 and a two-hundred day moving average of $108.49. The company has a market cap of $78.83 billion, a price-to-earnings ratio of 25.84, a PEG ratio of 1.54 and a beta of 1.18. Southern Copper Co. has a 12-month low of $70.92 and a 12-month high of $129.79. The company has a quick ratio of 2.31, a current ratio of 2.77 and a debt-to-equity ratio of 0.64.

Southern Copper Announces Dividend

The company also recently disclosed a — dividend, which was paid on Thursday, November 21st. Investors of record on Wednesday, November 6th were issued a dividend of $0.62 per share. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a dividend yield of 2.1%. Southern Copper’s dividend payout ratio is 72.09%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Morgan Stanley upped their price target 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. Scotiabank reduced their target price on Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating for the company in a report on Tuesday, October 15th. Finally, Citigroup raised 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 investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $90.63.

Southern Copper Company 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.