Morse Asset Management Inc Acquires New Stake in Southern Copper Co. (NYSE:SCCO)

Morse Asset Management Inc bought a new stake in Southern Copper Co. (NYSE:SCCO) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 12,080 shares of the basic materials company’s stock, valued at approximately $1,397,000.

Other institutional investors also recently bought and sold shares of the company. Integrated Wealth Concepts LLC lifted its position in Southern Copper by 2.9% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 8,797 shares of the basic materials company’s stock worth $1,018,000 after acquiring an additional 250 shares in the last quarter. Itau Unibanco Holding S.A. raised its stake in shares of Southern Copper by 115,910.7% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 336,431 shares of the basic materials company’s stock valued at $38,915,000 after purchasing an additional 336,141 shares in the last quarter. Centiva Capital LP raised its stake in Southern Copper by 2.7% during the third quarter. Centiva Capital LP now owns 16,644 shares of the basic materials company’s stock valued at $1,925,000 after buying an additional 431 shares in the last quarter. Beacon Investment Advisory Services Inc. grew its position in shares of Southern Copper by 5.4% in the 3rd quarter. Beacon Investment Advisory Services Inc. now owns 49,404 shares of the basic materials company’s stock worth $5,715,000 after acquiring an additional 2,518 shares in the last quarter. Finally, Beck Capital Management LLC acquired a new position in Southern Copper in the third quarter worth $1,391,000. 7.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Citigroup increased their price target on Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a research report on Wednesday, October 2nd. Scotiabank cut 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. Morgan Stanley boosted their price target 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, JPMorgan Chase & Co. raised Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price objective for the company in a research note on Monday. Five analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Southern Copper currently has a consensus rating of “Hold” and an average price target of $94.56.

Southern Copper Stock Performance

Shares of Southern Copper stock opened at $101.33 on Wednesday. The stock has a market cap of $79.59 billion, a PE ratio of 26.09, a price-to-earnings-growth ratio of 1.55 and a beta of 1.14. 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. The business has a fifty day simple moving average of $109.72 and a 200-day simple moving average of $107.97.

Southern Copper Announces Dividend

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