Planning Capital Management Corp Takes Position in Southern Copper Co. (NYSE:SCCO)

Planning Capital Management Corp purchased a new position in Southern Copper Co. (NYSE:SCCO) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 451 shares of the basic materials company’s stock, valued at approximately $52,000.

Other large investors have also recently bought and sold shares of the company. Regal Partners Ltd acquired a new position in shares of Southern Copper during the 3rd quarter worth about $1,585,000. Oppenheimer Asset Management Inc. purchased a new stake in Southern Copper during the 3rd quarter worth approximately $2,289,000. Saturna Capital Corp raised its holdings in shares of Southern Copper by 0.6% during the third quarter. Saturna Capital Corp now owns 43,673 shares of the basic materials company’s stock valued at $5,052,000 after acquiring an additional 242 shares during the last quarter. Empower Advisory Group LLC lifted its position in shares of 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 valued at $116,140,000 after acquiring an additional 32,314 shares in the last quarter. Finally, Aptus Capital Advisors LLC lifted its position in shares of Southern Copper by 38.9% in the third quarter. Aptus Capital Advisors LLC now owns 3,163 shares of the basic materials company’s stock valued at $366,000 after acquiring an additional 886 shares in the last quarter. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Southern Copper Price Performance

NYSE SCCO opened at $100.30 on Friday. The business’s fifty day moving average is $109.54 and its two-hundred day moving average is $109.78. The stock has a market capitalization of $78.79 billion, a P/E ratio of 25.82, a P/E/G ratio of 1.04 and a beta of 1.18. 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 1 year low of $70.63 and a 1 year high of $129.79.

Southern Copper Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Citigroup increased 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. Morgan Stanley raised their price target on shares of Southern Copper from $97.00 to $100.00 and gave the stock an “underweight” rating in a research note on Thursday, September 19th. Finally, Scotiabank cut their price objective on shares of Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating for the company in a report on Tuesday, October 15th. Six equities research 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 data from MarketBeat, the company 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.