Today: Today, BNP Paribas Arbitrage SA Raises its position in Southern Copper Corp. (SCCO) as a favorable investment target.

Today, BNP Paribas Arbitrage SA Raises its position in Southern Copper Corp. (SCCO) as a favorable investment target.

BNP Paribas Arbitrage SA increased its position in shares of Southern Copper Corp. (NYSE:SCCO) by 13.4% during the third quarter, Holdings Channel reports. The fund owned 198,591 shares of the company’s stock after buying an additional 23,425 shares during the period. BNP Paribas Arbitrage SA’s holdings in Southern Copper Corp. were worth $5,223,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Advisor Group Inc. bought a new stake in Southern Copper Corp. during the second quarter worth about $103,000. Checchi Capital Advisers LLC boosted its stake in Southern Copper Corp. by 3.0% in the second quarter. Checchi Capital Advisers LLC now owns 4,453 shares of the company’s stock worth $120,000 after buying an additional 128 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in Southern Copper Corp. by 3,954.9% in the second quarter. Tower Research Capital LLC TRC now owns 6,204 shares of the company’s stock worth $167,000 after buying an additional 6,051 shares during the last quarter. Van ECK Associates Corp boosted its stake in Southern Copper Corp. by 19.9% in the second quarter. Van ECK Associates Corp now owns 6,342 shares of the company’s stock worth $171,000 after buying an additional 1,051 shares during the last quarter. Finally, Glenmede Trust Co. NA bought a new stake in Southern Copper Corp. during the second quarter worth about $177,000. Institutional investors own 5.77% of the company’s stock.

Shares of Southern Copper Corp. (NYSE:SCCO) traded up 0.51% during trading on Friday, reaching $33.60. The company had a trading volume of 775,986 shares. The company has a 50 day moving average of $29.03 and a 200-day moving average of $26.96. The firm has a market capitalization of $25.97 billion, a P/E ratio of 39.16 and a beta of 0.63. Southern Copper Corp. has a 52-week low of $21.55 and a 52-week high of $34.79.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 29th. Shareholders of record on Wednesday, November 9th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date of this dividend is Monday, November 7th. Southern Copper Corp.’s dividend payout ratio (DPR) is 22.99%.

A number of equities research analysts have issued reports on SCCO shares. Zacks Investment Research upgraded Southern Copper Corp. from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a research note on Thursday, October 6th. TheStreet upgraded shares of Southern Copper Corp. from a “hold” rating to a “buy” rating in a research note on Wednesday, October 26th. Vetr upgraded shares of Southern Copper Corp. from a “hold” rating to a “buy” rating and set a $28.04 price objective on the stock in a research note on Monday, August 29th. HSBC upgraded shares of Southern Copper Corp. from a “hold” rating to a “buy” rating and lifted their price objective for the company from $26.01 to $31.50 in a research note on Friday, August 26th. Finally, Barclays PLC lifted their price objective on shares of Southern Copper Corp. from $26.00 to $28.00 and gave the company an “equal weight” rating in a research note on Monday, August 8th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. Southern Copper Corp. currently has an average rating of “Hold” and an average price target of $27.98.

Southern Copper Corp. Company Profile

Southern Copper Corporation is an integrated copper producer. It produces copper, molybdenum, zinc and silver. It operates through three segments: Peruvian operations, which include the Toquepala and Cuajone mine complexes and the smelting and refining plants, including a metals plant industrial railroad and port facilities that service both mines; Mexican open-pit operations, which include the La Caridad and Buenavista mine complexes and the smelting and refining plants, including a metals plant and a copper rod plant and support facilities that service both mines, and Mexican underground mining operations, which include over five underground mines that produce zinc, copper, silver and gold, a coal mine that produces coal and coke, and a zinc refinery.

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