Prospera Private Wealth LLC Buys New Shares in Southern Copper Co. (NYSE:SCCO)

Prospera Private Wealth LLC bought a new position in shares of Southern Copper Co. (NYSE:SCCO) in the third quarter, Holdings Channel reports. The fund bought 409 shares of the basic materials company’s stock, valued at approximately $47,000.

Several other hedge funds have also recently added to or reduced their stakes in SCCO. Creative Financial Designs Inc. ADV boosted its stake in shares of Southern Copper by 172.0% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 223 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 141 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new stake in shares of Southern Copper during the second quarter valued at $31,000. McClarren Financial Advisors Inc. boosted its position 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 valued at $33,000 after purchasing an additional 181 shares during the period. Oakworth Capital Inc. acquired a new position in shares of Southern Copper in the 3rd quarter valued at $42,000. Finally, Planning Capital Management Corp purchased a new position in Southern Copper in the 3rd quarter worth about $52,000. Institutional investors and hedge funds own 7.94% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on SCCO shares. Morgan Stanley raised their target price on shares of Southern Copper from $97.00 to $100.00 and gave the stock an “underweight” rating in a report on Thursday, September 19th. Citigroup lifted their price objective on shares of Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a research report on Wednesday, October 2nd. Finally, Scotiabank lowered their price target on Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating on the stock in a report on Tuesday, October 15th. Six 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. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $90.63.

Southern Copper Price Performance

Shares of NYSE:SCCO opened at $99.74 on Friday. The business has a fifty day simple moving average of $110.24 and a 200 day simple moving average of $109.08. The company has a current ratio of 2.77, a quick ratio of 2.31 and a debt-to-equity ratio of 0.64. Southern Copper Co. has a 1 year low of $70.63 and a 1 year high of $129.79. The firm has a market cap of $78.35 billion, a price-to-earnings ratio of 25.68, a P/E/G ratio of 1.07 and a beta of 1.18.

Southern Copper Dividend Announcement

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

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.