Geode Capital Management LLC Buys 20,204 Shares of Southern Copper Co. (NYSE:SCCO)

Geode Capital Management LLC increased its stake in Southern Copper Co. (NYSE:SCCO) by 3.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 613,286 shares of the basic materials company’s stock after buying an additional 20,204 shares during the period. Geode Capital Management LLC’s holdings in Southern Copper were worth $70,437,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Creative Financial Designs Inc. ADV boosted its holdings 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 valued at $26,000 after buying an additional 141 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new position in Southern Copper during the 2nd quarter valued at about $31,000. McClarren Financial Advisors Inc. boosted its stake in Southern Copper by 169.2% during the third quarter. McClarren Financial Advisors Inc. now owns 288 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 181 shares in the last quarter. Oakworth Capital Inc. purchased a new stake in Southern Copper in the third quarter worth about $42,000. Finally, Prospera Private Wealth LLC bought a new position in shares of Southern Copper during the third quarter valued at approximately $47,000. 7.94% of the stock is currently owned by hedge funds and other institutional investors.

Southern Copper Price Performance

NYSE SCCO opened at $93.01 on Friday. 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 company has a market capitalization of $73.06 billion, a price-to-earnings ratio of 23.95, a PEG ratio of 1.56 and a beta of 1.14. The stock has a 50-day moving average of $105.20 and a 200 day moving average of $106.23. Southern Copper Co. has a one year low of $77.14 and a one year high of $129.79.

Southern Copper Announces Dividend

The business also recently disclosed a — dividend, which was paid on Thursday, November 21st. Investors of record on Wednesday, November 6th were given a dividend of $0.62 per share. The ex-dividend date was Wednesday, November 6th. This represents a yield of 2.1%. Southern Copper’s dividend payout ratio (DPR) is 72.16%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on SCCO shares. Citigroup boosted their price target on Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. raised Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 target price on the stock in a research note on Monday, December 2nd. Scotiabank lowered their price target 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. Finally, Morgan Stanley raised shares of Southern Copper from an “underweight” rating to an “equal weight” rating and cut their price objective for the company from $106.30 to $102.00 in a research report on Thursday, December 12th. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Southern Copper has an average rating of “Hold” and a consensus target price of $94.81.

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.