Nwam LLC Invests $203,000 in Southern Copper Co. (NYSE:SCCO)

Nwam LLC bought a new stake in shares of Southern Copper Co. (NYSE:SCCO) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,758 shares of the basic materials company’s stock, valued at approximately $203,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SCCO. Creative Financial Designs Inc. ADV raised its holdings in Southern Copper by 172.0% in the 3rd 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. purchased a new position in shares of Southern Copper during the second quarter valued at about $31,000. McClarren Financial Advisors Inc. raised its stake in Southern Copper by 169.2% in the third 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. purchased a new stake in Southern Copper in the third quarter worth about $42,000. Finally, Prospera Private Wealth LLC bought a new stake in Southern Copper during the 3rd quarter valued at approximately $47,000. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on SCCO. Citigroup raised their target price on Southern Copper from $99.44 to $100.00 and gave the company a “sell” rating in a research note on Wednesday, October 2nd. Morgan Stanley boosted their target price on shares of Southern Copper from $97.00 to $100.00 and gave the company an “underweight” rating in a report on Thursday, September 19th. Finally, Scotiabank decreased their price target on shares of 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. Six research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $90.63.

Southern Copper Stock Up 2.3 %

NYSE:SCCO opened at $102.01 on Tuesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.77. The firm has a market cap of $80.13 billion, a P/E ratio of 26.26, a P/E/G ratio of 1.03 and a beta of 1.18. Southern Copper Co. has a fifty-two week low of $70.63 and a fifty-two week high of $129.79. The firm has a 50-day simple moving average of $110.29 and a two-hundred day simple moving average of $108.90.

Southern Copper Dividend Announcement

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

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.