Beck Capital Management LLC Purchases Shares of 12,023 Southern Copper Co. (NYSE:SCCO)

Beck Capital Management LLC acquired a new stake in Southern Copper Co. (NYSE:SCCO) in the third quarter, HoldingsChannel reports. The institutional investor acquired 12,023 shares of the basic materials company’s stock, valued at approximately $1,391,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SCCO. Creative Financial Designs Inc. ADV raised its position in Southern Copper by 172.0% in the third quarter. Creative Financial Designs Inc. ADV now owns 223 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 141 shares in the last quarter. Itau Unibanco Holding S.A. bought a new stake in shares of Southern Copper in the 2nd quarter valued at approximately $31,000. McClarren Financial Advisors Inc. raised its holdings in shares of Southern Copper by 169.2% in 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 in the last quarter. Oakworth Capital Inc. bought a new position in shares of Southern Copper during the 3rd quarter worth approximately $42,000. Finally, Prospera Private Wealth LLC bought a new position in shares of Southern Copper during the 3rd quarter worth approximately $47,000. 7.94% of the stock is owned by institutional investors.

Southern Copper Trading Up 0.6 %

SCCO opened at $100.35 on Monday. Southern Copper Co. has a 1-year low of $70.92 and a 1-year high of $129.79. The stock has a market capitalization of $78.83 billion, a PE ratio of 25.86, a PEG ratio of 1.55 and a beta of 1.18. The company has a current ratio of 2.77, a quick ratio of 2.31 and a debt-to-equity ratio of 0.64. The firm has a 50-day moving average price of $110.08 and a two-hundred day moving average price of $108.28.

Southern Copper Dividend Announcement

The business also recently declared a — dividend, which was paid on Thursday, November 21st. Investors of record on Wednesday, November 6th were issued a $0.62 dividend. This represents a dividend yield of 2.1%. The ex-dividend date was Wednesday, November 6th. Southern Copper’s dividend payout ratio is currently 72.16%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Scotiabank dropped their price objective on 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. Morgan Stanley increased their target price on shares of Southern Copper from $97.00 to $100.00 and gave the stock an “underweight” rating in a research report on Thursday, September 19th. Finally, Citigroup boosted their price target on shares of Southern Copper from $99.44 to $100.00 and gave the company a “sell” rating in a research report on Wednesday, October 2nd. Six investment 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’s stock. According to MarketBeat.com, Southern Copper presently has a consensus rating of “Hold” and an average target price of $90.63.

About Southern Copper

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.