Planning Capital Management Corp Acquires New Holdings in Southern Copper Co. (NYSE:SCCO)

Planning Capital Management Corp bought a new stake in Southern Copper Co. (NYSE:SCCO) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 451 shares of the basic materials company’s stock, valued at approximately $52,000.

Other large investors also recently added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV lifted its stake in shares of Southern Copper by 172.0% in the 3rd 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 position in shares of Southern Copper by 169.2% in the third quarter. McClarren Financial Advisors Inc. now owns 288 shares of the basic materials company’s stock worth $33,000 after buying an additional 181 shares during the last quarter. Itau Unibanco Holding S.A. bought a new stake in shares of Southern Copper during the 2nd quarter worth about $31,000. Oakworth Capital Inc. acquired a new position in shares of Southern Copper during the 3rd quarter valued at about $42,000. Finally, Hanseatic Management Services Inc. bought a new position in shares of Southern Copper in the 2nd quarter valued at approximately $53,000. 7.94% of the stock is owned by institutional investors.

Southern Copper Trading Down 0.7 %

Shares of Southern Copper stock opened at $100.30 on Friday. The company has a market cap of $78.79 billion, a price-to-earnings ratio of 25.82, a PEG ratio of 1.04 and a beta of 1.18. Southern Copper Co. has a 1 year low of $70.63 and a 1 year high of $129.79. The company’s fifty day simple moving average is $109.54 and its 200-day simple moving average is $109.78. 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 Dividend Announcement

The business also recently disclosed a — dividend, which will be paid on Thursday, November 21st. Stockholders 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 72.09%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on SCCO shares. Citigroup upped their target price on Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a research report on Wednesday, October 2nd. Morgan Stanley upped their price objective on shares of Southern Copper from $97.00 to $100.00 and gave the stock an “underweight” rating in a report on Thursday, September 19th. Finally, Scotiabank dropped their target price on shares of Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating on the stock in a report on Tuesday, October 15th. Six equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $90.63.

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.