Connor Clark & Lunn Investment Management Ltd. Sells 210,685 Shares of Southern Copper Co. (NYSE:SCCO)

Connor Clark & Lunn Investment Management Ltd. decreased its holdings in shares of Southern Copper Co. (NYSE:SCCO - Free Report) by 91.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,810 shares of the basic materials company's stock after selling 210,685 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in Southern Copper were worth $1,805,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Deseret Mutual Benefit Administrators boosted its position in Southern Copper by 210.7% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 379 shares of the basic materials company's stock valued at $35,000 after purchasing an additional 257 shares during the last quarter. IFP Advisors Inc boosted its position in Southern Copper by 143.4% during the fourth quarter. IFP Advisors Inc now owns 477 shares of the basic materials company's stock valued at $43,000 after purchasing an additional 281 shares during the last quarter. Prospera Private Wealth LLC acquired a new stake in Southern Copper during the third quarter valued at $47,000. Larson Financial Group LLC boosted its position in Southern Copper by 578.3% during the third quarter. Larson Financial Group LLC now owns 407 shares of the basic materials company's stock valued at $47,000 after purchasing an additional 347 shares during the last quarter. Finally, Spire Wealth Management acquired a new stake in Southern Copper during the fourth quarter valued at $47,000. Hedge funds and other institutional investors own 7.94% of the company's stock.

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Southern Copper Stock Performance

Shares of NYSE SCCO traded up $1.76 during trading hours on Friday, hitting $100.98. 5,118,842 shares of the company's stock were exchanged, compared to its average volume of 1,157,701. Southern Copper Co. has a 1-year low of $84.33 and a 1-year high of $127.34. 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 stock has a market capitalization of $80.39 billion, a price-to-earnings ratio of 23.37, a PEG ratio of 1.90 and a beta of 1.12. The company's 50-day moving average price is $94.27 and its 200-day moving average price is $100.57.

Southern Copper (NYSE:SCCO - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The basic materials company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.02 by ($0.01). Southern Copper had a return on equity of 40.27% and a net margin of 29.53%. On average, sell-side analysts expect that Southern Copper Co. will post 4.66 earnings per share for the current fiscal year.

Southern Copper Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Tuesday, February 11th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.77%. The ex-dividend date of this dividend was Tuesday, February 11th. This is a boost from Southern Copper's previous quarterly dividend of $0.60. Southern Copper's payout ratio is currently 64.81%.

Analyst Ratings Changes

A number of research firms recently issued reports on SCCO. JPMorgan Chase & Co. raised Southern Copper from an "underweight" rating to a "neutral" rating and set a $92.50 price objective for the company in a research report on Monday, December 2nd. Scotiabank boosted their price target on Southern Copper from $52.00 to $72.00 and gave the stock a "sector underperform" rating in a research report on Monday, March 10th. Morgan Stanley raised Southern Copper from an "underweight" rating to an "equal weight" rating and reduced their price target for the stock from $106.30 to $102.00 in a research report on Thursday, December 12th. Finally, UBS Group raised Southern Copper from a "neutral" rating to a "buy" rating and set a $120.00 price target for the company in a research report on Thursday, March 13th. Four investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $97.31.

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.