Southern Copper Co. (NYSE:SCCO) Shares Bought by Altman Advisors Inc.

Altman Advisors Inc. lifted its holdings in Southern Copper Co. (NYSE:SCCO) by 3.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 12,625 shares of the basic materials company’s stock after acquiring an additional 399 shares during the quarter. Altman Advisors Inc.’s holdings in Southern Copper were worth $1,460,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Capital World Investors purchased a new stake in shares of Southern Copper during the first quarter valued at $340,373,000. Price T Rowe Associates Inc. MD raised its holdings in Southern Copper by 18.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,771,332 shares of the basic materials company’s stock worth $827,804,000 after buying an additional 1,192,111 shares during the period. Los Angeles Capital Management LLC lifted its stake in Southern Copper by 1,300.4% during the second quarter. Los Angeles Capital Management LLC now owns 443,285 shares of the basic materials company’s stock valued at $47,760,000 after buying an additional 411,630 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Southern Copper by 11,510.5% in the third quarter. International Assets Investment Management LLC now owns 189,716 shares of the basic materials company’s stock worth $21,944,000 after buying an additional 188,082 shares during the period. Finally, CANADA LIFE ASSURANCE Co increased its position in shares of Southern Copper by 182.3% in the first quarter. CANADA LIFE ASSURANCE Co now owns 278,119 shares of the basic materials company’s stock worth $29,625,000 after acquiring an additional 179,590 shares in the last quarter. 7.94% of the stock is currently owned by institutional investors.

Southern Copper Price Performance

NYSE SCCO opened at $103.43 on Wednesday. The company has a 50 day moving average price of $110.04 and a two-hundred day moving average price of $109.31. Southern Copper Co. has a 12-month low of $70.63 and a 12-month high of $129.79. The stock has a market capitalization of $81.25 billion, a PE ratio of 26.73, a price-to-earnings-growth ratio of 1.02 and a beta of 1.18. 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 Dividend Announcement

The business also recently announced a — dividend, which will be paid on Thursday, November 21st. Shareholders of record on Wednesday, November 6th will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a yield of 2.1%. Southern Copper’s dividend payout ratio (DPR) is currently 72.09%.

Analysts Set New Price Targets

SCCO has been the subject of several research analyst reports. Citigroup upped 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. Scotiabank decreased their target price on Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating for the company in a research report on Tuesday, October 15th. Finally, Morgan Stanley upped their price target on Southern Copper from $97.00 to $100.00 and gave the company an “underweight” rating in a research report on Thursday, September 19th. Six equities research 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 data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $90.63.

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.