Oppenheimer Asset Management Inc. Invests $2.29 Million in Southern Copper Co. (NYSE:SCCO)

Oppenheimer Asset Management Inc. purchased a new stake in shares of Southern Copper Co. (NYSE:SCCO) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 19,791 shares of the basic materials company’s stock, valued at approximately $2,289,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Saturna Capital Corp raised its holdings in shares of Southern Copper by 0.6% in the 3rd quarter. Saturna Capital Corp now owns 43,673 shares of the basic materials company’s stock valued at $5,052,000 after purchasing an additional 242 shares in the last quarter. Empower Advisory Group LLC raised its stake 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 worth $116,140,000 after buying an additional 32,314 shares in the last quarter. Aptus Capital Advisors LLC lifted its holdings in Southern Copper by 38.9% during the third quarter. Aptus Capital Advisors LLC now owns 3,163 shares of the basic materials company’s stock worth $366,000 after buying an additional 886 shares during the period. Aigen Investment Management LP boosted its position 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 valued at $1,809,000 after acquiring an additional 9,095 shares in the last quarter. Finally, Prime Capital Investment Advisors LLC increased its holdings in shares of Southern Copper by 4.9% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 10,868 shares of the basic materials company’s stock valued at $1,257,000 after acquiring an additional 503 shares during the period. 7.94% of the stock is currently owned by institutional investors.

Southern Copper Trading Down 1.0 %

NYSE SCCO opened at $99.24 on Friday. Southern Copper Co. has a 12-month low of $70.63 and a 12-month high of $129.79. The company has a fifty day simple moving average of $109.72 and a two-hundred day simple moving average of $109.56. 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 stock has a market cap of $77.96 billion, a P/E ratio of 25.55, a P/E/G ratio of 1.04 and a beta of 1.18.

Southern Copper Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Scotiabank dropped their price objective on Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating on the stock in a research report on Tuesday, October 15th. Morgan Stanley lifted their price objective on shares of Southern Copper from $97.00 to $100.00 and gave the stock an “underweight” rating in a research report on Thursday, September 19th. Finally, Citigroup increased their target price on shares of Southern Copper from $99.44 to $100.00 and gave the company a “sell” rating in a research report on Wednesday, October 2nd. Six analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average 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.