Southern Copper Co. (NYSE:SCCO) Shares Acquired by Integrated Wealth Concepts LLC

Integrated Wealth Concepts LLC increased its holdings in shares of Southern Copper Co. (NYSE:SCCO) by 2.9% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,797 shares of the basic materials company’s stock after purchasing an additional 250 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Southern Copper were worth $1,018,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of SCCO. Creative Financial Designs Inc. ADV lifted its stake in shares of Southern Copper by 172.0% during the third quarter. Creative Financial Designs Inc. ADV now owns 223 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 141 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new position in shares of Southern Copper during the second quarter worth $31,000. McClarren Financial Advisors Inc. grew its holdings in Southern Copper by 169.2% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 288 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 181 shares in the last quarter. Oakworth Capital Inc. purchased a new stake in Southern Copper during the 3rd quarter worth $42,000. Finally, Prospera Private Wealth LLC acquired a new position in shares of Southern Copper in the third quarter worth about $47,000. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Southern Copper Stock Performance

Shares of NYSE SCCO opened at $100.00 on Monday. The stock has a market capitalization of $78.55 billion, a P/E ratio of 25.75, a P/E/G ratio of 1.57 and a beta of 1.14. The firm’s 50-day moving average price is $108.75 and its two-hundred day moving average price is $107.48. Southern Copper Co. has a 52-week low of $70.92 and a 52-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.

Southern Copper Dividend Announcement

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

Wall Street Analyst Weigh In

SCCO has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upgraded Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price objective for the company in a research note on Monday, December 2nd. 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 research note on Thursday, September 19th. Scotiabank decreased their price target 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. 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. Five analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Southern Copper presently has an average rating of “Hold” and an average target price of $94.56.

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.