Amalgamated Bank Purchases 1,796 Shares of Southern Copper Co. (NYSE:SCCO)

Amalgamated Bank boosted its holdings in shares of Southern Copper Co. (NYSE:SCCO) by 30.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,620 shares of the basic materials company’s stock after purchasing an additional 1,796 shares during the period. Amalgamated Bank’s holdings in Southern Copper were worth $881,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of SCCO. Creative Financial Designs Inc. ADV lifted its position in shares of 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 buying an additional 141 shares during the last quarter. Itau Unibanco Holding S.A. bought a new position in shares of Southern Copper in the second quarter worth about $31,000. McClarren Financial Advisors Inc. boosted its stake in shares of Southern Copper by 169.2% in 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. Oakworth Capital Inc. bought a new stake in shares of Southern Copper during the 3rd quarter valued at approximately $42,000. Finally, Hanseatic Management Services Inc. acquired a new position in Southern Copper during the 2nd quarter worth approximately $53,000. Institutional investors and hedge funds own 7.94% of the company’s stock.

Analysts Set New Price Targets

SCCO has been the topic of a number of research reports. Citigroup boosted their target price on shares of Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a research note on Wednesday, October 2nd. Morgan Stanley boosted their price objective on Southern Copper from $97.00 to $100.00 and gave the stock an “underweight” rating in a research report on Thursday, September 19th. Finally, Scotiabank dropped their target price on Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating for the company in a research report on Tuesday, October 15th. Six analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Southern Copper presently has an average rating of “Hold” and an average price target of $90.63.

Southern Copper Stock Down 0.7 %

Shares of NYSE SCCO opened at $100.30 on Friday. The company’s 50 day moving average price is $109.54 and its 200-day moving average price is $109.78. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.77. Southern Copper Co. has a 52-week low of $70.63 and a 52-week high of $129.79. The company has a market capitalization of $78.79 billion, a P/E ratio of 25.85, a price-to-earnings-growth ratio of 1.06 and a beta of 1.18.

Southern Copper Dividend Announcement

The company also recently declared a — dividend, which will be paid on Thursday, November 21st. Shareholders of record on Wednesday, November 6th will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a yield of 2.1%. Southern Copper’s dividend payout ratio (DPR) is currently 72.16%.

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.