Connor Clark & Lunn Investment Management Ltd. Increases Position in Southern Copper Co. (NYSE:SCCO)

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

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Creative Financial Designs Inc. ADV raised its stake in shares of Southern Copper by 172.0% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 223 shares of the basic materials company’s stock worth $26,000 after buying an additional 141 shares during the last quarter. McClarren Financial Advisors Inc. increased 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 acquiring an additional 181 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new position in Southern Copper during the second quarter worth about $31,000. Oakworth Capital Inc. purchased a new stake in shares of Southern Copper in the third quarter valued at about $42,000. Finally, Prospera Private Wealth LLC acquired a new stake in shares of Southern Copper in the third quarter valued at approximately $47,000. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Scotiabank dropped their price target on Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating for the company in a research report on Tuesday, October 15th. Citigroup lifted 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. Finally, 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 report on Thursday, September 19th. Six analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $90.63.

Southern Copper Stock Down 0.8 %

Shares of NYSE SCCO opened at $102.98 on Thursday. The stock has a fifty day moving average price of $110.17 and a 200 day moving average price of $109.27. The company has a market cap of $80.89 billion, a P/E ratio of 26.51, a P/E/G ratio of 1.07 and a beta of 1.18. Southern Copper Co. has a 12-month low of $70.63 and a 12-month high of $129.79. 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 Announces Dividend

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

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.