Financial Advocates Investment Management Buys 127 Shares of Southern Copper Co. (NYSE:SCCO)

Financial Advocates Investment Management raised its stake in Southern Copper Co. (NYSE:SCCO) by 3.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,808 shares of the basic materials company’s stock after acquiring an additional 127 shares during the period. Financial Advocates Investment Management’s holdings in Southern Copper were worth $440,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Cetera Investment Advisers raised its stake in Southern Copper by 395.1% in the first quarter. Cetera Investment Advisers now owns 38,803 shares of the basic materials company’s stock valued at $4,133,000 after purchasing an additional 30,966 shares in the last quarter. Advisors Asset Management Inc. raised its position in shares of Southern Copper by 21.7% in the 1st quarter. Advisors Asset Management Inc. now owns 90,237 shares of the basic materials company’s stock valued at $9,612,000 after buying an additional 16,111 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Southern Copper by 182.3% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 278,119 shares of the basic materials company’s stock worth $29,625,000 after acquiring an additional 179,590 shares during the period. Oppenheimer & Co. Inc. boosted its position in shares of Southern Copper by 157.1% during the 1st quarter. Oppenheimer & Co. Inc. now owns 22,175 shares of the basic materials company’s stock worth $2,362,000 after acquiring an additional 13,550 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in Southern Copper by 18.1% in the first 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 acquiring an additional 1,192,111 shares during the last quarter. 7.94% of the stock is currently owned by institutional investors.

Southern Copper Price Performance

Southern Copper stock opened at $110.10 on Friday. The stock has a 50-day moving average price of $108.45 and a two-hundred day moving average price of $110.04. Southern Copper Co. has a 12 month low of $68.93 and a 12 month high of $129.79. The company has a market capitalization of $86.01 billion, a PE ratio of 28.35, a P/E/G ratio of 1.12 and a beta of 1.18. The company has a current ratio of 2.81, a quick ratio of 2.27 and a debt-to-equity ratio of 0.67.

Southern Copper Dividend Announcement

The firm 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. The ex-dividend date is Wednesday, November 6th. This represents a yield of 2.1%. Southern Copper’s dividend payout ratio is presently 61.79%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Morgan Stanley upped their target price on Southern Copper from $97.00 to $100.00 and gave the stock an “underweight” rating in a research note on Thursday, September 19th. Scotiabank reduced their price objective on 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. Citigroup lifted their target price on Southern Copper from $99.44 to $100.00 and gave the company a “sell” rating in a research report on Wednesday, October 2nd. Finally, UBS Group began coverage on shares of Southern Copper in a report on Friday, July 12th. They issued a “neutral” rating and a $120.00 target price for the company. Six 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 company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target 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.