ORG Partners LLC Invests $254,000 in Southern Copper Co. (NYSE:SCCO)

ORG Partners LLC bought a new position in Southern Copper Co. (NYSE:SCCO) during the second quarter, according to the company in its most recent filing with the SEC. The firm bought 2,337 shares of the basic materials company’s stock, valued at approximately $254,000.

A number of other large investors also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD raised its position in Southern Copper by 18.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,771,332 shares of the basic materials company’s stock worth $827,804,000 after purchasing an additional 1,192,111 shares during the period. Fisher Asset Management LLC increased its position in shares of Southern Copper by 1.2% in the fourth quarter. Fisher Asset Management LLC now owns 3,349,984 shares of the basic materials company’s stock valued at $288,333,000 after acquiring an additional 39,422 shares during the period. Capital World Investors purchased a new position in shares of Southern Copper in the first quarter valued at about $340,373,000. abrdn plc increased its position in shares of Southern Copper by 2.3% in the fourth quarter. abrdn plc now owns 3,041,233 shares of the basic materials company’s stock valued at $261,759,000 after acquiring an additional 67,930 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Southern Copper by 54.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,541,396 shares of the basic materials company’s stock valued at $164,190,000 after acquiring an additional 544,312 shares during the period. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on SCCO shares. CICC Research started coverage on shares of Southern Copper in a research report on Wednesday, April 24th. They issued an “outperform” rating on the stock. Morgan Stanley boosted their price objective on shares of Southern Copper from $81.70 to $100.00 and gave the company an “underweight” rating in a research report on Friday, June 21st. Scotiabank decreased their price objective on shares of Southern Copper from $55.00 to $54.00 and set a “sector underperform” rating on the stock in a research report on Tuesday, May 21st. StockNews.com upgraded shares of Southern Copper from a “hold” rating to a “buy” rating in a research report on Wednesday, May 15th. Finally, UBS Group initiated coverage on shares of Southern Copper in a research report on Friday, July 12th. They set a “neutral” rating and a $120.00 price target on the stock. Five investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $89.57.

Southern Copper Stock Up 0.9 %

NYSE:SCCO traded up $0.86 during mid-day trading on Wednesday, hitting $101.47. 965,604 shares of the company’s stock were exchanged, compared to its average volume of 1,189,138. Southern Copper Co. has a one year low of $68.93 and a one year high of $129.79. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.81 and a quick ratio of 2.56. The business has a fifty day moving average price of $107.54 and a 200 day moving average price of $104.19. The company has a market cap of $79.26 billion, a PE ratio of 33.57, a P/E/G ratio of 1.01 and a beta of 1.20.

Southern Copper Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 26th. Investors of record on Friday, August 9th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend is Friday, August 9th. Southern Copper’s payout ratio is currently 79.73%.

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.