Americana Partners LLC Buys 356 Shares of Southern Copper Co. (NYSE:SCCO)

Americana Partners LLC boosted its position in Southern Copper Co. (NYSE:SCCO) by 0.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 44,142 shares of the basic materials company’s stock after buying an additional 356 shares during the quarter. Americana Partners LLC’s holdings in Southern Copper were worth $5,106,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Creative Financial Designs Inc. ADV raised its stake in Southern Copper by 172.0% in the third 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 during the period. Financial Advocates Investment Management lifted its holdings in Southern Copper by 3.5% during the 3rd quarter. Financial Advocates Investment Management now owns 3,808 shares of the basic materials company’s stock valued at $440,000 after purchasing an additional 127 shares during the last quarter. Pinnacle Associates Ltd. boosted its position in Southern Copper by 50.6% during the third quarter. Pinnacle Associates Ltd. now owns 3,354 shares of the basic materials company’s stock worth $388,000 after purchasing an additional 1,127 shares during the period. First Trust Direct Indexing L.P. increased its holdings in shares of Southern Copper by 30.7% in the third quarter. First Trust Direct Indexing L.P. now owns 5,167 shares of the basic materials company’s stock valued at $598,000 after purchasing an additional 1,215 shares during the last quarter. Finally, Fidelis Capital Partners LLC raised its position in shares of Southern Copper by 14.5% in the third quarter. Fidelis Capital Partners LLC now owns 5,814 shares of the basic materials company’s stock valued at $662,000 after purchasing an additional 736 shares during the period. 7.94% of the stock is owned by institutional investors.

Southern Copper Trading Up 1.3 %

Shares of Southern Copper stock traded up $1.42 on Friday, hitting $110.97. The stock had a trading volume of 222,072 shares, compared to its average volume of 1,152,610. The stock has a 50 day moving average of $108.34 and a 200 day moving average of $110.10. The firm has a market capitalization of $86.69 billion, a P/E ratio of 28.23, a PEG ratio of 1.14 and a beta of 1.18. Southern Copper Co. has a twelve month low of $68.93 and a twelve month high of $129.79. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.27 and a current ratio of 2.81.

Southern Copper Announces Dividend

The business also recently announced a — dividend, which will be paid on Thursday, November 21st. Investors of record on Wednesday, November 6th will be given a dividend of $0.62 per share. This represents a yield of 2.1%. The ex-dividend date of this dividend is Wednesday, November 6th. Southern Copper’s dividend payout ratio is currently 61.79%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on SCCO shares. Citigroup upped their price target on shares of Southern Copper from $99.44 to $100.00 and gave the company a “sell” rating in a research note on Wednesday, October 2nd. UBS Group initiated coverage on shares of Southern Copper in a report on Friday, July 12th. They issued a “neutral” rating and a $120.00 target price on the stock. Morgan Stanley upped their price target on shares of Southern Copper from $97.00 to $100.00 and gave the stock an “underweight” rating in a report on Thursday, September 19th. Finally, Scotiabank decreased their price objective 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. Six investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $90.63.

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.