Aigen Investment Management LP Buys 9,095 Shares of Southern Copper Co. (NYSE:SCCO)

Aigen Investment Management LP increased its stake in shares of Southern Copper Co. (NYSE:SCCO) by 138.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 15,642 shares of the basic materials company’s stock after purchasing an additional 9,095 shares during the quarter. Aigen Investment Management LP’s holdings in Southern Copper were worth $1,809,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of SCCO. Creative Financial Designs Inc. ADV boosted its position in shares of Southern Copper by 172.0% during the third quarter. Creative Financial Designs Inc. ADV now owns 223 shares of the basic materials company’s stock valued at $26,000 after buying an additional 141 shares during the period. Itau Unibanco Holding S.A. bought a new stake in Southern Copper during the 2nd quarter valued at $31,000. McClarren Financial Advisors Inc. increased its holdings in shares of 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 acquiring an additional 181 shares during the period. Oakworth Capital Inc. bought a new position in shares of Southern Copper in the 3rd quarter worth $42,000. Finally, Hanseatic Management Services Inc. bought a new position in shares of Southern Copper in the 2nd quarter worth $53,000. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SCCO. Scotiabank cut their target price on Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating on the stock in a research note on Tuesday, October 15th. Citigroup boosted their price objective on shares of Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a research note on Wednesday, October 2nd. Finally, Morgan Stanley upped 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. Six research analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $90.63.

Southern Copper Stock Performance

Shares of NYSE:SCCO traded down $2.07 during midday trading on Tuesday, reaching $102.69. The company’s stock had a trading volume of 59,944 shares, compared to its average volume of 1,144,187. The firm has a market capitalization of $80.67 billion, a PE ratio of 26.99, a P/E/G ratio of 1.10 and a beta of 1.18. The stock has a fifty day moving average of $109.32 and a 200 day moving average of $109.94. Southern Copper Co. has a twelve month low of $70.13 and a twelve 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.

Southern Copper Announces Dividend

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 $0.62 dividend. The ex-dividend date is Wednesday, November 6th. This represents a dividend yield of 2.1%. Southern Copper’s dividend payout ratio (DPR) is presently 72.09%.

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.