Americafirst Capital Management LLC Takes $166,000 Position in Southern Copper Corp (SCCO)
Americafirst Capital Management LLC purchased a new stake in shares of Southern Copper Corp (NYSE:SCCO) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 4,181 shares of the basic materials company’s stock, valued at approximately $166,000.
A number of other large investors have also recently modified their holdings of SCCO. Vanguard Group Inc. grew its holdings in Southern Copper by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 738,289 shares of the basic materials company’s stock valued at $26,497,000 after purchasing an additional 12,086 shares during the last quarter. Great West Life Assurance Co. Can grew its holdings in Southern Copper by 3.3% during the 2nd quarter. Great West Life Assurance Co. Can now owns 60,238 shares of the basic materials company’s stock valued at $2,083,000 after purchasing an additional 1,900 shares during the last quarter. Bessemer Group Inc. grew its holdings in Southern Copper by 114.5% during the 2nd quarter. Bessemer Group Inc. now owns 3,692 shares of the basic materials company’s stock valued at $128,000 after purchasing an additional 1,971 shares during the last quarter. Sei Investments Co. grew its holdings in Southern Copper by 48.4% during the 2nd quarter. Sei Investments Co. now owns 16,873 shares of the basic materials company’s stock valued at $584,000 after purchasing an additional 5,505 shares during the last quarter. Finally, TD Asset Management Inc. bought a new position in Southern Copper during the 2nd quarter valued at about $1,794,000. Institutional investors own 6.34% of the company’s stock.
Southern Copper Corp (NYSE:SCCO) traded up $0.41 during trading hours on Friday, reaching $43.32. 1,424,310 shares of the company were exchanged, compared to its average volume of 1,029,339. Southern Copper Corp has a 12 month low of $31.55 and a 12 month high of $44.69. The company has a debt-to-equity ratio of 0.90, a current ratio of 3.01 and a quick ratio of 2.00. The stock has a market capitalization of $33,170.63, a PE ratio of 33.52, a price-to-earnings-growth ratio of 0.66 and a beta of 0.62.
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 22nd. Shareholders of record on Wednesday, November 8th were paid a dividend of $0.25 per share. This is a positive change from Southern Copper’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Tuesday, November 7th. This represents a $1.00 dividend on an annualized basis and a yield of 2.31%. Southern Copper’s dividend payout ratio is presently 78.13%.
Several research firms have issued reports on SCCO. BidaskClub cut shares of Southern Copper from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 28th. Scotiabank cut shares of Southern Copper from a “sector perform” rating to an “underperform” rating in a research report on Monday, October 23rd. FBR & Co reaffirmed a “buy” rating on shares of Southern Copper in a research report on Monday, October 23rd. Cowen upped their price target on shares of Southern Copper from $39.00 to $48.00 and gave the stock a “market perform” rating in a research report on Friday, November 3rd. Finally, Zacks Investment Research cut shares of Southern Copper from a “buy” rating to a “hold” rating in a research report on Saturday, November 11th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. Southern Copper presently has a consensus rating of “Hold” and a consensus price target of $39.86.
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About Southern Copper
Southern Copper Corporation is an integrated copper producer. It produces copper and, in the production process, obtains several by-products, including molybdenum, silver, zinc, sulfuric acid and other metals. Its segments include the Peruvian operations, the Mexican open-pit operations and the Mexican underground mining operations segment identified as the IMMSA unit.
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