Prospera Financial Services Inc Grows Holdings in Southern Copper Co. (NYSE:SCCO)

Prospera Financial Services Inc lifted its position in shares of Southern Copper Co. (NYSE:SCCO) by 39.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,389 shares of the basic materials company’s stock after acquiring an additional 963 shares during the quarter. Prospera Financial Services Inc’s holdings in Southern Copper were worth $392,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of SCCO. Cetera Investment Advisers boosted 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 purchasing an additional 30,966 shares in the last quarter. Gateway Advisory LLC acquired a new position in shares of Southern Copper during the 2nd quarter worth approximately $625,000. Toronto Dominion Bank lifted its position in shares of Southern Copper by 15.2% during the 1st quarter. Toronto Dominion Bank now owns 5,145 shares of the basic materials company’s stock valued at $542,000 after buying an additional 679 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in Southern Copper in the 3rd quarter valued at $2,289,000. Finally, IFM Investors Pty Ltd increased its holdings in Southern Copper by 100.4% in the 3rd quarter. IFM Investors Pty Ltd now owns 11,468 shares of the basic materials company’s stock worth $1,327,000 after acquiring an additional 5,746 shares in the last quarter. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Southern Copper Price Performance

NYSE:SCCO opened at $99.74 on Monday. Southern Copper Co. has a one year low of $70.63 and a one year high of $129.79. The stock has a market cap of $78.35 billion, a PE ratio of 25.68, a P/E/G ratio of 1.04 and a beta of 1.18. 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 stock has a 50 day moving average price of $110.24 and a 200 day moving average price of $109.01.

Southern Copper Announces Dividend

The business also recently declared a — dividend, which was paid on Thursday, November 21st. Stockholders of record on Wednesday, November 6th were issued a dividend of $0.62 per share. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a dividend yield of 2.1%. Southern Copper’s dividend payout ratio is presently 72.09%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SCCO. Scotiabank decreased their price objective on shares of Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating on the stock in a report on Tuesday, October 15th. Morgan Stanley raised their price target on shares of Southern Copper from $97.00 to $100.00 and gave the company an “underweight” rating in a research note on Thursday, September 19th. Finally, Citigroup increased their target price on Southern Copper from $99.44 to $100.00 and gave the company a “sell” rating in a report on Wednesday, October 2nd. Six 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 company. According to MarketBeat.com, Southern Copper currently has a consensus rating of “Hold” and a consensus price target of $90.63.

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.