ORG Partners LLC Acquires Shares of 2,337 Southern Copper Co. (NYSE:SCCO)

ORG Partners LLC acquired a new stake in shares of Southern Copper Co. (NYSE:SCCO) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 2,337 shares of the basic materials company’s stock, valued at approximately $254,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Capital World Investors purchased a new position in shares of Southern Copper during the 1st quarter valued at approximately $340,373,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Southern Copper by 18.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,771,332 shares of the basic materials company’s stock valued at $827,804,000 after purchasing an additional 1,192,111 shares in the last quarter. Norges Bank purchased a new position in shares of Southern Copper during the 4th quarter valued at approximately $71,802,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Southern Copper by 54.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,541,396 shares of the basic materials company’s stock valued at $164,190,000 after purchasing an additional 544,312 shares in the last quarter. Finally, Lord Abbett & CO. LLC purchased a new position in shares of Southern Copper during the 1st quarter valued at approximately $27,163,000. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SCCO. Scotiabank cut their target price on shares of Southern Copper from $55.00 to $54.00 and set a “sector underperform” rating for the company in a report on Tuesday, May 21st. HSBC lowered shares of Southern Copper from a “hold” rating to a “reduce” rating and set a $80.00 price target for the company. in a report on Monday, April 22nd. CICC Research assumed coverage on shares of Southern Copper in a report on Wednesday, April 24th. They issued an “outperform” rating for the company. UBS Group assumed coverage on shares of Southern Copper in a report on Friday, July 12th. They issued a “neutral” rating and a $120.00 price target for the company. Finally, Morgan Stanley boosted their price target on shares of Southern Copper from $81.70 to $100.00 and gave the stock an “underweight” rating in a report on Friday, June 21st. Five investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $89.57.

Southern Copper Price Performance

Shares of Southern Copper stock traded up $0.86 during trading hours on Wednesday, reaching $101.47. 965,604 shares of the company’s stock were exchanged, compared to its average volume of 1,189,138. Southern Copper Co. has a 1 year low of $68.93 and a 1 year high of $129.79. The company has a market capitalization of $79.26 billion, a P/E ratio of 33.57, a price-to-earnings-growth ratio of 1.01 and a beta of 1.20. The business has a fifty day moving average of $107.54 and a two-hundred day moving average of $104.19. The company has a quick ratio of 2.56, a current ratio of 2.81 and a debt-to-equity ratio of 0.67.

Southern Copper Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 26th. Stockholders of record on Friday, August 9th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date is Friday, August 9th. Southern Copper’s payout ratio is 79.73%.

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.