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

First City Capital Management Inc. reduced its holdings in Southern Copper Co. (NYSE:SCCO) by 28.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,683 shares of the basic materials company’s stock after selling 1,458 shares during the period. First City Capital Management Inc.’s holdings in Southern Copper were worth $336,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Creative Financial Designs Inc. ADV grew its stake in shares of Southern Copper by 172.0% in the 3rd 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. purchased a new position in Southern Copper in the second quarter worth approximately $31,000. McClarren Financial Advisors Inc. grew its position in Southern Copper by 169.2% in the third quarter. McClarren Financial Advisors Inc. now owns 288 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 181 shares during the period. Oakworth Capital Inc. acquired a new stake in Southern Copper during the third quarter worth $42,000. Finally, Prospera Private Wealth LLC purchased a new stake in Southern Copper in the third quarter valued at $47,000. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Southern Copper Stock Up 0.5 %

SCCO stock traded up $0.48 during midday trading on Friday, reaching $92.64. 377,471 shares of the company were exchanged, compared to its average volume of 515,842. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.77. The stock’s 50-day simple moving average is $101.48 and its 200 day simple moving average is $105.24. The company has a market cap of $72.77 billion, a price-to-earnings ratio of 23.85, a price-to-earnings-growth ratio of 1.56 and a beta of 1.14. Southern Copper Co. has a 1-year low of $77.14 and a 1-year high of $129.79.

Southern Copper Dividend Announcement

The company also recently announced a — dividend, which was paid on Thursday, November 21st. Stockholders 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 was Wednesday, November 6th. Southern Copper’s dividend payout ratio (DPR) is currently 72.16%.

Analyst Ratings Changes

Several analysts recently weighed in on SCCO shares. Citigroup lifted 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 cut their target price for the stock from $106.30 to $102.00 in a research note on Thursday, December 12th. Scotiabank decreased their price target on shares of 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. Finally, JPMorgan Chase & Co. raised Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price objective on the stock in a research report on Monday, December 2nd. Four analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Southern Copper presently has a consensus rating of “Hold” and a consensus price target of $94.81.

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.