Kovack Advisors Inc. Cuts Stake in Southern Copper Co. (NYSE:SCCO)

Kovack Advisors Inc. lessened its holdings in Southern Copper Co. (NYSE:SCCO) by 2.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,875 shares of the basic materials company’s stock after selling 145 shares during the period. Kovack Advisors Inc.’s holdings in Southern Copper were worth $564,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Oppenheimer Asset Management Inc. acquired a new position in Southern Copper during the 3rd quarter worth approximately $2,289,000. Saturna Capital Corp lifted its position in shares of Southern Copper by 0.6% during the 3rd quarter. Saturna Capital Corp now owns 43,673 shares of the basic materials company’s stock worth $5,052,000 after purchasing an additional 242 shares during the last quarter. Empower Advisory Group LLC increased its holdings in Southern Copper by 3.3% in 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 buying an additional 32,314 shares during the last quarter. Aptus Capital Advisors LLC raised its stake in Southern Copper by 38.9% in the third quarter. Aptus Capital Advisors LLC now owns 3,163 shares of the basic materials company’s stock valued at $366,000 after buying an additional 886 shares in the last quarter. Finally, Aigen Investment Management LP lifted its holdings in Southern Copper by 138.9% during the 3rd quarter. Aigen Investment Management LP now owns 15,642 shares of the basic materials company’s stock worth $1,809,000 after buying an additional 9,095 shares during the last quarter. 7.94% of the stock is owned by institutional investors and hedge funds.

Southern Copper Stock Down 0.7 %

Shares of NYSE:SCCO opened at $100.30 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.77 and a quick ratio of 2.31. The stock has a market cap of $78.79 billion, a P/E ratio of 25.82, a P/E/G ratio of 1.04 and a beta of 1.18. Southern Copper Co. has a 1-year low of $70.63 and a 1-year high of $129.79. The firm has a fifty day moving average price of $109.54 and a 200 day moving average price of $109.78.

Southern Copper Dividend Announcement

The business also recently declared a — dividend, which will be paid on Thursday, November 21st. Investors of record on Wednesday, November 6th will be issued a dividend of $0.62 per share. This represents a dividend yield of 2.1%. The ex-dividend date is Wednesday, November 6th. Southern Copper’s dividend payout ratio is currently 72.09%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Citigroup raised their target price on Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a research report on Wednesday, October 2nd. Scotiabank cut 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 report on Tuesday, October 15th. Finally, Morgan Stanley upped their target price on shares of Southern Copper from $97.00 to $100.00 and gave the company an “underweight” rating in a report on Thursday, September 19th. Six research 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 company currently has a consensus rating of “Hold” and an average 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.