Great Diamond Partners LLC Sells 649 Shares of Southern Copper Co. (NYSE:SCCO)

by · The Cerbat Gem

Great Diamond Partners LLC cut its position in shares of Southern Copper Co. (NYSE:SCCO – Free Report) by 12.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,658 shares of the basic materials company’s stock after selling 649 shares during the period. Great Diamond Partners LLC’s holdings in Southern Copper were worth $539,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in SCCO. Norden Group LLC purchased a new stake in Southern Copper during the first quarter valued at approximately $1,820,000. Cetera Investment Advisers raised its holdings in Southern Copper by 395.1% during the 1st quarter. Cetera Investment Advisers now owns 38,803 shares of the basic materials company’s stock valued at $4,133,000 after buying an additional 30,966 shares during the period. Advisors Asset Management Inc. lifted its position in Southern Copper by 21.7% in the first quarter. Advisors Asset Management Inc. now owns 90,237 shares of the basic materials company’s stock worth $9,612,000 after buying an additional 16,111 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in Southern Copper by 182.3% during the first quarter. CANADA LIFE ASSURANCE Co now owns 278,119 shares of the basic materials company’s stock worth $29,625,000 after buying an additional 179,590 shares during the period. Finally, Oppenheimer & Co. Inc. increased its position in Southern Copper by 157.1% during the first quarter. Oppenheimer & Co. Inc. now owns 22,175 shares of the basic materials company’s stock valued at $2,362,000 after acquiring an additional 13,550 shares during the last quarter. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Southern Copper Price Performance

Shares of SCCO opened at $114.40 on Wednesday. The stock has a market capitalization of $89.36 billion, a PE ratio of 29.48, a PEG ratio of 1.18 and a beta of 1.18. The company has a 50 day moving average price of $108.03 and a 200-day moving average price of $110.09. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.27 and a current ratio of 2.81. Southern Copper Co. has a fifty-two week low of $68.93 and a fifty-two week high of $129.79.

Southern Copper Dividend Announcement

The business also recently disclosed a — dividend, which will be paid on Thursday, November 21st. Investors of record on Wednesday, November 6th will be paid a dividend of $0.62 per share. This represents a dividend yield of 2.1%. The ex-dividend date of this dividend is Wednesday, November 6th. Southern Copper’s dividend payout ratio (DPR) is currently 72.16%.

Analysts Set New Price Targets

A number of research firms recently commented on SCCO. Citigroup lifted their price target 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. Scotiabank dropped their target price on 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. Morgan Stanley raised their price target on Southern Copper from $97.00 to $100.00 and gave the stock an “underweight” rating in a research note on Thursday, September 19th. Finally, UBS Group started coverage on Southern Copper in a research report on Friday, July 12th. They issued a “neutral” rating and a $120.00 price objective on the stock. Six research analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $90.63.

View Our Latest Stock Analysis on SCCO

Southern Copper Company Profile

(Free Report)

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.

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