Connor Clark & Lunn Investment Management Ltd. Raises Stock Holdings in Southern Copper Co. (NYSE:SCCO)

Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Southern Copper Co. (NYSE:SCCO) by 7.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 230,495 shares of the basic materials company’s stock after buying an additional 15,386 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Southern Copper were worth $26,661,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. O Shaughnessy Asset Management LLC lifted its stake in Southern Copper by 34.5% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 8,228 shares of the basic materials company’s stock worth $876,000 after acquiring an additional 2,111 shares in the last quarter. InterOcean Capital Group LLC acquired a new stake in shares of Southern Copper during the first quarter worth about $260,000. Natixis boosted its stake in shares of Southern Copper by 82.6% in the first quarter. Natixis now owns 8,000 shares of the basic materials company’s stock valued at $852,000 after purchasing an additional 3,619 shares during the period. Advisors Asset Management Inc. grew its holdings in shares of Southern Copper by 21.7% in the first quarter. Advisors Asset Management Inc. now owns 90,237 shares of the basic materials company’s stock valued at $9,612,000 after purchasing an additional 16,111 shares in the last quarter. Finally, Toronto Dominion Bank increased its stake in Southern Copper by 15.2% during the 1st quarter. Toronto Dominion Bank now owns 5,145 shares of the basic materials company’s stock worth $542,000 after buying an additional 679 shares during the period. 7.94% of the stock is owned by hedge funds and other institutional investors.

Southern Copper Stock Down 0.8 %

Shares of NYSE:SCCO opened at $102.98 on Thursday. Southern Copper Co. has a fifty-two week low of $70.63 and a fifty-two week high of $129.79. The company has a quick ratio of 2.31, a current ratio of 2.77 and a debt-to-equity ratio of 0.64. The firm’s 50-day simple moving average is $110.17 and its 200-day simple moving average is $109.27. The company has a market cap of $80.89 billion, a price-to-earnings ratio of 26.51, a PEG ratio of 1.07 and a beta of 1.18.

Southern Copper Dividend Announcement

The firm also recently announced 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. This represents a yield of 2.1%. The ex-dividend date is Wednesday, November 6th. Southern Copper’s payout ratio is 72.09%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SCCO. Citigroup upped their price objective on Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a research report on Wednesday, October 2nd. Morgan Stanley upped their price target on 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 Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating for the company in a research note on Tuesday, October 15th. Six investment analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus 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.