Prime Capital Investment Advisors LLC Acquires 503 Shares of Southern Copper Co. (NYSE:SCCO)

Prime Capital Investment Advisors LLC increased its holdings in shares of Southern Copper Co. (NYSE:SCCO) by 4.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,868 shares of the basic materials company’s stock after buying an additional 503 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Southern Copper were worth $1,257,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Creative Financial Designs Inc. ADV lifted its holdings in shares of 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 worth $26,000 after acquiring an additional 141 shares during the last quarter. Itau Unibanco Holding S.A. bought a new position in Southern Copper in the 2nd quarter valued at approximately $31,000. McClarren Financial Advisors Inc. boosted its position in Southern Copper by 169.2% in the third quarter. McClarren Financial Advisors Inc. now owns 288 shares of the basic materials company’s stock valued at $33,000 after buying an additional 181 shares in the last quarter. Oakworth Capital Inc. acquired a new stake in Southern Copper in the third quarter valued at approximately $42,000. Finally, Hanseatic Management Services Inc. acquired a new position in shares of Southern Copper during the second quarter worth $53,000. 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’s 50 day moving average price is $109.54 and its 200-day moving average price is $109.78. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.77. Southern Copper Co. has a 52-week low of $70.63 and a 52-week high of $129.79. The company has a market capitalization of $78.79 billion, a P/E ratio of 25.85, a price-to-earnings-growth ratio of 1.06 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 (DPR) is currently 72.16%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Morgan Stanley raised their price objective on Southern Copper from $97.00 to $100.00 and gave the company an “underweight” rating in a report on Thursday, September 19th. Scotiabank reduced their price target on 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, Citigroup upped their price objective on Southern Copper from $99.44 to $100.00 and gave the company a “sell” rating in a research note on Wednesday, October 2nd. Six analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Southern Copper presently has an average rating of “Hold” and an average target price of $90.63.

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.