MAI Capital Management Has $505,000 Position in Southern Copper Co. (NYSE:SCCO)

MAI Capital Management lessened its holdings in Southern Copper Co. (NYSE:SCCO) by 4.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,364 shares of the basic materials company’s stock after selling 192 shares during the period. MAI Capital Management’s holdings in Southern Copper were worth $505,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Creative Financial Designs Inc. ADV boosted its position in 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 during the period. Itau Unibanco Holding S.A. acquired a new position in shares of Southern Copper in the 2nd quarter valued at about $31,000. McClarren Financial Advisors Inc. lifted its position in shares of 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 purchasing an additional 181 shares in the last quarter. Oakworth Capital Inc. acquired a new stake in shares of Southern Copper during the third quarter worth approximately $42,000. Finally, Planning Capital Management Corp purchased a new position in Southern Copper during the third quarter valued at approximately $52,000. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Southern Copper Price Performance

Shares of NYSE:SCCO opened at $99.74 on Friday. The stock has a market capitalization of $78.35 billion, a P/E ratio of 25.68, a P/E/G ratio of 1.07 and a beta of 1.18. The business has a 50-day moving average of $110.24 and a two-hundred day moving average of $109.08. Southern Copper Co. has a fifty-two week low of $70.63 and a fifty-two week high of $129.79. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.77 and a quick ratio of 2.31.

Southern Copper Dividend Announcement

The business also recently announced a — dividend, which was paid on Thursday, November 21st. Investors of record on Wednesday, November 6th were issued a $0.62 dividend. 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 currently 72.09%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on SCCO shares. Morgan Stanley increased their target price 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. Citigroup lifted their price objective on Southern Copper from $99.44 to $100.00 and gave the company a “sell” rating in a research report on Wednesday, October 2nd. Finally, Scotiabank lowered their target price on Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating on the stock in a research note on Tuesday, October 15th. Six equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $90.63.

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.