Benjamin Edwards Inc. Purchases 4,928 Shares of Southern Copper Co. (NYSE:SCCO)

Benjamin Edwards Inc. boosted its position in Southern Copper Co. (NYSE:SCCO) by 2,816.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,103 shares of the basic materials company’s stock after purchasing an additional 4,928 shares during the period. Benjamin Edwards Inc.’s holdings in Southern Copper were worth $590,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of SCCO. Fisher Asset Management LLC lifted its stake in shares of Southern Copper by 10.6% during the 3rd quarter. Fisher Asset Management LLC now owns 2,963,572 shares of the basic materials company’s stock worth $342,796,000 after acquiring an additional 283,562 shares during the last quarter. Empower Advisory Group LLC boosted its stake in shares of Southern Copper by 3.3% during the third quarter. Empower Advisory Group LLC now owns 1,004,060 shares of the basic materials company’s stock valued at $116,140,000 after purchasing an additional 32,314 shares during the period. Marathon Asset Management Ltd grew its holdings in shares of Southern Copper by 2.9% in the third quarter. Marathon Asset Management Ltd now owns 788,672 shares of the basic materials company’s stock worth $91,226,000 after purchasing an additional 22,437 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in Southern Copper by 0.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 630,579 shares of the basic materials company’s stock worth $67,939,000 after buying an additional 4,580 shares during the period. Finally, Los Angeles Capital Management LLC increased its stake in Southern Copper by 21.7% in the 3rd quarter. Los Angeles Capital Management LLC now owns 539,495 shares of the basic materials company’s stock worth $62,403,000 after buying an additional 96,210 shares during the period. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Southern Copper Trading Down 1.1 %

Shares of NYSE SCCO opened at $100.00 on Friday. Southern Copper Co. has a 1-year low of $70.92 and a 1-year high of $129.79. The business has a fifty day moving average price of $108.75 and a 200 day moving average price of $107.54. The stock has a market capitalization of $78.55 billion, a P/E ratio of 25.75, a price-to-earnings-growth ratio of 1.57 and a beta of 1.14. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.77 and a quick ratio of 2.31.

Southern Copper Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have commented on SCCO. Scotiabank dropped their target price on shares of Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating on the stock in a research note on Tuesday, October 15th. JPMorgan Chase & Co. raised Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price objective on the stock in a research note on Monday, December 2nd. Morgan Stanley upped their target price on Southern Copper from $97.00 to $100.00 and gave the stock 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 company a “sell” rating in a research note on Wednesday, October 2nd. Five analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Southern Copper presently has an average rating of “Hold” and a consensus target price of $94.56.

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.