Brooklyn Investment Group Invests $93,000 in Southern Copper Co. (NYSE:SCCO)

by · The Cerbat Gem

Brooklyn Investment Group acquired a new stake in Southern Copper Co. (NYSE:SCCO – Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 808 shares of the basic materials company’s stock, valued at approximately $93,000.

A number of other large investors have also recently added to or reduced their stakes in SCCO. Creative Financial Designs Inc. ADV grew its position in shares of Southern Copper by 172.0% in the third quarter. Creative Financial Designs Inc. ADV now owns 223 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 141 shares during the last quarter. McClarren Financial Advisors Inc. lifted its stake in Southern Copper by 169.2% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 288 shares of the basic materials company’s stock valued at $33,000 after buying an additional 181 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new stake in Southern Copper during the 2nd quarter valued at $31,000. Oakworth Capital Inc. acquired a new position in shares of Southern Copper in the third quarter worth $42,000. Finally, Larson Financial Group LLC lifted its position in shares of Southern Copper by 578.3% in the third quarter. Larson Financial Group LLC now owns 407 shares of the basic materials company’s stock valued at $47,000 after acquiring an additional 347 shares in the last quarter. 7.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SCCO has been the subject of several analyst reports. Scotiabank cut their target price on shares of 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. Citigroup upped their price objective on shares of Southern Copper from $99.44 to $100.00 and gave the company a “sell” rating in a research note on Wednesday, October 2nd. Finally, Morgan Stanley boosted their price target on Southern Copper from $97.00 to $100.00 and gave the company an “underweight” rating in a report on Thursday, September 19th. Six 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. According to MarketBeat.com, Southern Copper currently has an average rating of “Hold” and a consensus target price of $90.63.

Check Out Our Latest Research Report on Southern Copper

Southern Copper Stock Performance

Shares of SCCO stock opened at $99.71 on Friday. The company has a quick ratio of 2.31, a current ratio of 2.77 and a debt-to-equity ratio of 0.64. The business has a 50 day moving average of $110.15 and a two-hundred day moving average of $108.64. The company has a market cap of $78.33 billion, a P/E ratio of 25.70, a PEG ratio of 1.05 and a beta of 1.18. Southern Copper Co. has a 52 week low of $70.63 and a 52 week high of $129.79.

Southern Copper Announces Dividend

The business also recently announced a — dividend, which was paid on Thursday, November 21st. Shareholders of record on Wednesday, November 6th were given a $0.62 dividend. This represents a yield of 2.1%. The ex-dividend date was Wednesday, November 6th. Southern Copper’s dividend payout ratio is presently 72.16%.

Southern Copper Company Profile

(Free Report)

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.

Read More

Want to see what other hedge funds are holding SCCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Southern Copper Co. (NYSE:SCCO – Free Report).