Dynamic Technology Lab Private Ltd Sells 10,045 Shares of Southern Copper Co. (NYSE:SCCO)

Dynamic Technology Lab Private Ltd trimmed its position in shares of Southern Copper Co. (NYSE:SCCO) by 76.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 3,012 shares of the basic materials company’s stock after selling 10,045 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Southern Copper were worth $348,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Cetera Investment Advisers raised its position 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 purchasing an additional 30,966 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Southern Copper by 7.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 230,495 shares of the basic materials company’s stock valued at $26,661,000 after acquiring an additional 15,386 shares in the last quarter. Gateway Advisory LLC purchased a new stake in Southern Copper in the second quarter worth $625,000. Oppenheimer Asset Management Inc. bought a new stake in Southern Copper in the third quarter valued at $2,289,000. Finally, IFM Investors Pty Ltd increased its position in Southern Copper by 100.4% during the 3rd quarter. IFM Investors Pty Ltd now owns 11,468 shares of the basic materials company’s stock valued at $1,327,000 after purchasing an additional 5,746 shares during the period. 7.94% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SCCO has been the subject of several research analyst reports. Scotiabank dropped their target price 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. Citigroup increased 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. Finally, Morgan Stanley lifted their price objective on Southern Copper from $97.00 to $100.00 and gave the company an “underweight” rating in a research report on Thursday, September 19th. 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 MarketBeat.com, Southern Copper currently has a consensus rating of “Hold” and a consensus price target of $90.63.

Southern Copper Price Performance

Shares of NYSE:SCCO opened at $100.35 on Friday. 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 company has a market capitalization of $78.83 billion, a PE ratio of 25.84, a PEG ratio of 1.54 and a beta of 1.18. Southern Copper Co. has a 1-year low of $70.92 and a 1-year high of $129.79. The business has a fifty day moving average price of $110.08 and a 200-day moving average price of $108.39.

Southern Copper Dividend Announcement

The firm also recently announced a — dividend, which was paid on Thursday, November 21st. Shareholders of record on Wednesday, November 6th were paid a dividend of $0.62 per share. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a yield of 2.1%. Southern Copper’s dividend payout ratio is 72.09%.

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.