First City Capital Management Inc. Trims Stake in Southern Copper Co. (NYSE:SCCO)

First City Capital Management Inc. cut its holdings in Southern Copper Co. (NYSE:SCCO) by 11.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 5,141 shares of the basic materials company’s stock after selling 640 shares during the period. First City Capital Management Inc.’s holdings in Southern Copper were worth $595,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD raised its holdings in Southern Copper by 18.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,771,332 shares of the basic materials company’s stock valued at $827,804,000 after acquiring an additional 1,192,111 shares during the last quarter. Capital World Investors acquired a new position in Southern Copper in the 1st quarter valued at $340,373,000. Empower Advisory Group LLC increased its holdings in shares of Southern Copper by 3.3% during the 3rd quarter. Empower Advisory Group LLC now owns 1,004,060 shares of the basic materials company’s stock worth $116,140,000 after buying an additional 32,314 shares during the last quarter. Marathon Asset Management Ltd increased its holdings in shares of Southern Copper by 2.9% during the 3rd quarter. Marathon Asset Management Ltd now owns 788,672 shares of the basic materials company’s stock worth $91,226,000 after buying an additional 22,437 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Southern Copper by 0.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 630,579 shares of the basic materials company’s stock worth $67,939,000 after buying an additional 4,580 shares during the last quarter. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Southern Copper Stock Performance

NYSE:SCCO opened at $101.77 on Tuesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.77 and a quick ratio of 2.31. The firm has a 50-day moving average of $109.85 and a two-hundred day moving average of $109.39. The stock has a market cap of $79.94 billion, a P/E ratio of 26.20, a PEG ratio of 1.02 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.

Southern Copper Dividend Announcement

The company also recently disclosed a — dividend, which will be paid on Thursday, November 21st. Shareholders of record on Wednesday, November 6th will be given a $0.62 dividend. The ex-dividend date is Wednesday, November 6th. This represents a yield of 2.1%. Southern Copper’s payout ratio is currently 72.09%.

Analyst Ratings Changes

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