Sanctuary Advisors LLC Purchases 25,559 Shares of Southern Copper Co. (NYSE:SCCO)

Sanctuary Advisors LLC increased its position in Southern Copper Co. (NYSE:SCCO) by 488.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 30,787 shares of the basic materials company’s stock after acquiring an additional 25,559 shares during the period. Sanctuary Advisors LLC’s holdings in Southern Copper were worth $3,561,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Southern Copper by 7.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 230,495 shares of the basic materials company’s stock valued at $26,661,000 after purchasing an additional 15,386 shares during the period. Morse Asset Management Inc purchased a new position in shares of Southern Copper in the third quarter worth approximately $1,397,000. Two Sigma Advisers LP grew its position in Southern Copper by 384.4% during the third quarter. Two Sigma Advisers LP now owns 90,173 shares of the basic materials company’s stock valued at $10,430,000 after buying an additional 71,558 shares during the period. Gateway Advisory LLC bought a new stake in Southern Copper during the second quarter valued at approximately $625,000. Finally, BNP Paribas Financial Markets increased its holdings in Southern Copper by 1,601.3% during the third quarter. BNP Paribas Financial Markets now owns 192,571 shares of the basic materials company’s stock valued at $22,275,000 after buying an additional 181,252 shares during the last quarter. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Southern Copper Stock Performance

NYSE:SCCO opened at $97.33 on Tuesday. The stock has a 50-day moving average price of $106.94 and a 200 day moving average price of $106.77. The company has a current ratio of 2.77, a quick ratio of 2.31 and a debt-to-equity ratio of 0.64. Southern Copper Co. has a 12-month low of $77.14 and a 12-month high of $129.79. The stock has a market capitalization of $76.46 billion, a P/E ratio of 25.06, a P/E/G ratio of 1.56 and a beta of 1.14.

Southern Copper Announces Dividend

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

Wall Street Analyst Weigh In

SCCO has been the subject of a number of recent research reports. Morgan Stanley raised shares of Southern Copper from an “underweight” rating to an “equal weight” rating and cut their price objective for the company from $106.30 to $102.00 in a research report on Thursday, December 12th. Scotiabank cut their price target on Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating for the company in a report on Tuesday, October 15th. JPMorgan Chase & Co. upgraded Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price target for the company in a research report on Monday, December 2nd. Finally, Citigroup lifted their price objective on Southern Copper from $99.44 to $100.00 and gave the company a “sell” rating in a research report on Wednesday, October 2nd. Four analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Southern Copper currently has a consensus rating of “Hold” and a consensus price target of $94.81.

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.