Caprock Group LLC Invests $217,000 in Southern Copper Co. (NYSE:SCCO)

Caprock Group LLC purchased a new stake in Southern Copper Co. (NYSE:SCCO) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,873 shares of the basic materials company’s stock, valued at approximately $217,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC grew its position in shares of Southern Copper by 1,300.4% in the 2nd quarter. Los Angeles Capital Management LLC now owns 443,285 shares of the basic materials company’s stock valued at $47,760,000 after buying an additional 411,630 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of Southern Copper by 11,510.5% during the third quarter. International Assets Investment Management LLC now owns 189,716 shares of the basic materials company’s stock worth $21,944,000 after purchasing an additional 188,082 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of Southern Copper during the second quarter worth about $11,142,000. Van ECK Associates Corp lifted its holdings in shares of Southern Copper by 30.2% in the 2nd quarter. Van ECK Associates Corp now owns 297,536 shares of the basic materials company’s stock valued at $32,057,000 after purchasing an additional 68,944 shares during the last quarter. Finally, Decade Renewable Partners LP acquired a new stake in shares of Southern Copper in the 2nd quarter valued at about $6,755,000. 7.94% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on SCCO. Scotiabank reduced their price objective on 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 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, Citigroup raised their price target on Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a report on Wednesday, October 2nd. Six investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Southern Copper has a consensus rating of “Hold” and an average price target of $90.63.

Southern Copper Price Performance

SCCO stock opened at $99.74 on Monday. The stock has a 50-day moving average price of $110.24 and a two-hundred day moving average price of $109.01. The company has a market cap of $78.35 billion, a PE ratio of 25.68, a price-to-earnings-growth ratio of 1.04 and a beta of 1.18. 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 12-month low of $70.63 and a 12-month high of $129.79.

Southern Copper Announces Dividend

The firm also recently declared 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 was Wednesday, November 6th. This represents a yield of 2.1%. Southern Copper’s payout ratio is 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.