BNP Paribas Financial Markets Has $22.28 Million Stock Holdings in Southern Copper Co. (NYSE:SCCO)

BNP Paribas Financial Markets lifted its holdings in shares of Southern Copper Co. (NYSE:SCCO) by 1,601.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 192,571 shares of the basic materials company’s stock after buying an additional 181,252 shares during the period. BNP Paribas Financial Markets’ holdings in Southern Copper were worth $22,275,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cetera Investment Advisers increased its position in Southern Copper by 395.1% during the first quarter. Cetera Investment Advisers now owns 38,803 shares of the basic materials company’s stock worth $4,133,000 after buying an additional 30,966 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Southern Copper by 7.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 230,495 shares of the basic materials company’s stock valued at $26,661,000 after acquiring an additional 15,386 shares in the last quarter. Gateway Advisory LLC acquired a new stake in Southern Copper in the 2nd quarter worth approximately $625,000. Oppenheimer Asset Management Inc. bought a new stake in Southern Copper during the third quarter worth approximately $2,289,000. Finally, IFM Investors Pty Ltd grew its holdings in Southern Copper by 100.4% during the third quarter. IFM Investors Pty Ltd now owns 11,468 shares of the basic materials company’s stock valued at $1,327,000 after purchasing an additional 5,746 shares during the last quarter. Institutional investors own 7.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Scotiabank reduced their price objective 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. Morgan Stanley upped their price target 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, Citigroup lifted their price objective on Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a research note on Wednesday, October 2nd. 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $90.63.

Southern Copper Stock Up 0.6 %

SCCO stock opened at $100.35 on Friday. Southern Copper Co. has a twelve month low of $70.92 and a twelve 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 company has a market cap of $78.83 billion, a PE ratio of 25.84, a price-to-earnings-growth ratio of 1.54 and a beta of 1.18. The business’s 50-day simple moving average is $110.08 and its 200 day simple moving average is $108.49.

Southern Copper Dividend Announcement

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