Erste Asset Management GmbH Purchases Shares of 3,860 Southern Copper Co. (NYSE:SCCO)

Erste Asset Management GmbH purchased a new stake in shares of Southern Copper Co. (NYSE:SCCO) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 3,860 shares of the basic materials company’s stock, valued at approximately $459,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV boosted its stake 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 valued at $26,000 after purchasing an additional 141 shares in the last quarter. McClarren Financial Advisors Inc. boosted its stake in shares of Southern Copper by 169.2% during the 3rd 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. Itau Unibanco Holding S.A. bought a new stake in shares of Southern Copper during the 2nd quarter worth $31,000. Oakworth Capital Inc. bought a new stake in shares of Southern Copper during the 3rd quarter worth $42,000. Finally, Larson Financial Group LLC boosted its stake in shares of Southern Copper by 578.3% during the 3rd quarter. Larson Financial Group LLC now owns 407 shares of the basic materials company’s stock worth $47,000 after acquiring an additional 347 shares in the last quarter. 7.94% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Citigroup raised their price objective on Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. raised Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price objective for the company in a research note on Monday. 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. Finally, Morgan Stanley raised their price objective on Southern Copper from $97.00 to $100.00 and gave the stock an “underweight” rating in a research note on Thursday, September 19th. Five equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $94.56.

Southern Copper Price Performance

Shares of NYSE:SCCO opened at $101.22 on Thursday. The firm has a market cap of $79.51 billion, a price-to-earnings ratio of 26.06, a P/E/G ratio of 1.55 and a beta of 1.14. Southern Copper Co. has a 1 year low of $70.92 and a 1 year high of $129.79. The company has a current ratio of 2.77, a quick ratio of 2.31 and a debt-to-equity ratio of 0.64. The business has a fifty day simple moving average of $109.52 and a 200 day simple moving average of $107.93.

Southern Copper Dividend Announcement

The company 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 payout ratio is 72.09%.

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.