Southern Copper Corp (SCCO) Position Cut by 3G Capital Partners LP

3G Capital Partners LP trimmed its stake in Southern Copper Corp (NYSE:SCCO) by 16.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 250,000 shares of the basic materials company’s stock after selling 50,000 shares during the quarter. Southern Copper comprises 0.9% of 3G Capital Partners LP’s portfolio, making the stock its 26th largest position. 3G Capital Partners LP’s holdings in Southern Copper were worth $9,940,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Swiss National Bank lifted its position in Southern Copper by 5.7% during the second quarter. Swiss National Bank now owns 380,226 shares of the basic materials company’s stock valued at $13,167,000 after buying an additional 20,500 shares in the last quarter. First Trust Advisors LP lifted its position in Southern Copper by 51.2% during the second quarter. First Trust Advisors LP now owns 211,014 shares of the basic materials company’s stock valued at $7,307,000 after buying an additional 71,416 shares in the last quarter. Commerzbank Aktiengesellschaft FI lifted its position in Southern Copper by 342.1% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 154,340 shares of the basic materials company’s stock valued at $5,345,000 after buying an additional 119,429 shares in the last quarter. Tobam lifted its position in Southern Copper by 180.3% during the second quarter. Tobam now owns 9,034 shares of the basic materials company’s stock valued at $313,000 after buying an additional 5,811 shares in the last quarter. Finally, GAM Holding AG lifted its position in Southern Copper by 0.8% during the second quarter. GAM Holding AG now owns 134,483 shares of the basic materials company’s stock valued at $4,657,000 after buying an additional 1,100 shares in the last quarter. Hedge funds and other institutional investors own 6.34% of the company’s stock.

Southern Copper Corp (NYSE SCCO) traded down $0.26 during midday trading on Monday, hitting $41.99. 951,500 shares of the stock were exchanged, compared to its average volume of 942,399. Southern Copper Corp has a twelve month low of $31.55 and a twelve month high of $44.69. The company has a current ratio of 3.01, a quick ratio of 2.00 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $32,459.45, a PE ratio of 32.81, a P/E/G ratio of 0.66 and a beta of 0.62.

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 22nd. Stockholders of record on Wednesday, November 8th were given a dividend of $0.25 per share. This is a boost from Southern Copper’s previous quarterly dividend of $0.14. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date was Tuesday, November 7th. Southern Copper’s payout ratio is presently 78.13%.

SCCO has been the topic of a number of recent research reports. BidaskClub cut shares of Southern Copper from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 28th. B. Riley reaffirmed a “buy” rating on shares of Southern Copper in a research report on Wednesday, November 1st. FBR & Co reaffirmed a “buy” rating on shares of Southern Copper in a research report on Monday, October 23rd. cut shares of Southern Copper from a “buy” rating to a “hold” rating and set a $41.00 price target on the stock. in a research report on Wednesday, August 16th. Finally, Zacks Investment Research cut shares of Southern Copper from a “buy” rating to a “hold” rating in a research report on Saturday, November 11th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $39.86.

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Southern Copper Company Profile

Southern Copper Corporation is an integrated copper producer. It produces copper and, in the production process, obtains several by-products, including molybdenum, silver, zinc, sulfuric acid and other metals. Its segments include the Peruvian operations, the Mexican open-pit operations and the Mexican underground mining operations segment identified as the IMMSA unit.

Institutional Ownership by Quarter for Southern Copper (NYSE:SCCO)

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