Quantbot Technologies LP Grows Holdings in Southern Copper Co. (NYSE:SCCO)

Quantbot Technologies LP grew its stake in shares of Southern Copper Co. (NYSE:SCCO) by 13.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 117,584 shares of the basic materials company’s stock after acquiring an additional 14,165 shares during the quarter. Southern Copper comprises about 0.5% of Quantbot Technologies LP’s holdings, making the stock its 11th largest position. Quantbot Technologies LP’s holdings in Southern Copper were worth $13,601,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Creative Financial Designs Inc. ADV lifted 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 buying an additional 141 shares in the last quarter. McClarren Financial Advisors Inc. grew its stake in Southern Copper by 169.2% during 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 in the last quarter. Itau Unibanco Holding S.A. purchased a new stake in Southern Copper during the 2nd quarter worth approximately $31,000. Oakworth Capital Inc. acquired a new position in shares of Southern Copper in the 3rd quarter valued at approximately $42,000. Finally, Larson Financial Group LLC boosted its stake in shares of Southern Copper by 578.3% during the 3rd quarter. Larson Financial Group LLC now owns 407 shares of the basic materials company’s stock valued at $47,000 after buying an additional 347 shares during the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on SCCO shares. Citigroup upped their target price on shares of 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 upped their price objective on Southern Copper from $97.00 to $100.00 and gave the company an “underweight” rating in a research note on Thursday, September 19th. Finally, Scotiabank reduced their target price 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 issued a buy rating to the company’s stock. According to data from MarketBeat.com, Southern Copper currently has an average rating of “Hold” and a consensus price target of $90.63.

Southern Copper Stock Performance

Shares of SCCO stock opened at $102.01 on Tuesday. 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 50 day moving average of $110.29 and a two-hundred day moving average of $108.90. The company has a market cap of $80.13 billion, a P/E ratio of 26.26, a PEG ratio of 1.03 and a beta of 1.18. Southern Copper Co. has a 52 week low of $70.63 and a 52 week high of $129.79.

Southern Copper Dividend Announcement

The business also recently disclosed a — dividend, which was paid on Thursday, November 21st. Investors 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 payout ratio is currently 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.