Drive Wealth Management LLC Has $722,000 Holdings in Southern Copper Co. (NYSE:SCCO)

Drive Wealth Management LLC increased its stake in shares of Southern Copper Co. (NYSE:SCCO) by 155.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,244 shares of the basic materials company’s stock after acquiring an additional 3,799 shares during the period. Drive Wealth Management LLC’s holdings in Southern Copper were worth $722,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Strengthening Families & Communities LLC grew its holdings in shares of Southern Copper by 3.1% during the third quarter. Strengthening Families & Communities LLC now owns 36,088 shares of the basic materials company’s stock worth $4,174,000 after buying an additional 1,097 shares in the last quarter. Quest Partners LLC grew its stake in shares of Southern Copper by 51.8% during the 3rd quarter. Quest Partners LLC now owns 6,228 shares of the basic materials company’s stock worth $720,000 after acquiring an additional 2,126 shares in the last quarter. KCM Investment Advisors LLC raised its holdings in shares of Southern Copper by 2.9% in the third quarter. KCM Investment Advisors LLC now owns 55,763 shares of the basic materials company’s stock valued at $6,450,000 after purchasing an additional 1,559 shares during the last quarter. Empowered Funds LLC bought a new stake in shares of Southern Copper in the third quarter worth $456,000. Finally, CIBC Asset Management Inc lifted its position in shares of Southern Copper by 4.0% in the third quarter. CIBC Asset Management Inc now owns 24,503 shares of the basic materials company’s stock worth $2,834,000 after purchasing an additional 935 shares in the last quarter. 7.94% of the stock is owned by institutional investors.

Southern Copper Trading Down 1.0 %

Shares of Southern Copper stock opened at $99.24 on Monday. The firm’s 50-day moving average price is $109.72 and its two-hundred day moving average price is $109.47. Southern Copper Co. has a 12-month low of $70.63 and a 12-month high of $129.79. 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 company has a market capitalization of $77.96 billion, a price-to-earnings ratio of 25.55, a PEG ratio of 1.02 and a beta of 1.18.

Southern Copper Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on SCCO shares. Citigroup lifted their price target 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. Morgan Stanley lifted their target price on Southern Copper from $97.00 to $100.00 and gave the company an “underweight” rating in a research report on Thursday, September 19th. Finally, Scotiabank reduced 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. 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 company. Based on data from MarketBeat, Southern Copper presently has a consensus rating of “Hold” and a consensus target price of $90.63.

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.