Southern Copper Co. (NYSE:SCCO) Shares Sold by First City Capital Management Inc.

First City Capital Management Inc. cut its stake in shares of Southern Copper Co. (NYSE:SCCO) by 28.4% in the 4th quarter, Holdings Channel reports. The fund owned 3,683 shares of the basic materials company’s stock after selling 1,458 shares during the quarter. First City Capital Management Inc.’s holdings in Southern Copper were worth $336,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in shares of Southern Copper by 74.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,402,983 shares of the basic materials company’s stock worth $162,283,000 after purchasing an additional 599,610 shares during the period. Los Angeles Capital Management LLC increased its holdings in Southern Copper by 1,300.4% in the second quarter. Los Angeles Capital Management LLC now owns 443,285 shares of the basic materials company’s stock valued at $47,760,000 after buying an additional 411,630 shares in the last quarter. Itau Unibanco Holding S.A. lifted its position in shares of Southern Copper by 115,910.7% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 336,431 shares of the basic materials company’s stock valued at $38,915,000 after acquiring an additional 336,141 shares during the period. Fisher Asset Management LLC grew its holdings in shares of Southern Copper by 10.6% in the 3rd quarter. Fisher Asset Management LLC now owns 2,963,572 shares of the basic materials company’s stock worth $342,796,000 after acquiring an additional 283,562 shares during the period. Finally, International Assets Investment Management LLC increased its stake in Southern Copper by 11,510.5% in the 3rd quarter. International Assets Investment Management LLC now owns 189,716 shares of the basic materials company’s stock valued at $21,944,000 after purchasing an additional 188,082 shares in the last quarter. 7.94% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. JPMorgan Chase & Co. raised Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 target price on the stock in a report on Monday, December 2nd. Citigroup raised their target price on shares of Southern Copper from $99.44 to $100.00 and gave the company a “sell” rating in a report on Wednesday, October 2nd. Morgan Stanley raised shares of Southern Copper from an “underweight” rating to an “equal weight” rating and dropped their price objective for the stock from $106.30 to $102.00 in a research note on Thursday, December 12th. Finally, Scotiabank lowered their target price on Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating on the stock in a report on Tuesday, October 15th. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Southern Copper currently has a consensus rating of “Hold” and a consensus price target of $94.81.

Southern Copper Stock Up 0.5 %

Shares of Southern Copper stock traded up $0.48 on Friday, hitting $92.64. 377,471 shares of the company’s stock traded hands, compared to its average volume of 515,842. 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 firm’s 50-day moving average is $101.48 and its 200 day moving average is $105.24. The stock has a market cap of $72.77 billion, a P/E ratio of 23.85, a PEG ratio of 1.56 and a beta of 1.14. Southern Copper Co. has a 52-week low of $77.14 and a 52-week high of $129.79.

Southern Copper Announces Dividend

The company also recently declared a — dividend, which was paid on Thursday, November 21st. Investors of record on Wednesday, November 6th were given a dividend of $0.62 per share. This represents a dividend yield of 2.1%. The ex-dividend date of this dividend was Wednesday, November 6th. Southern Copper’s dividend payout ratio is currently 72.16%.

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.