Cumberland Partners Ltd Sells 33,107 Shares of Southern Copper Co. (NYSE:SCCO)

Cumberland Partners Ltd trimmed its stake in shares of Southern Copper Co. (NYSE:SCCO - Free Report) by 57.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,532 shares of the basic materials company's stock after selling 33,107 shares during the period. Cumberland Partners Ltd's holdings in Southern Copper were worth $2,838,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SCCO. Ensign Peak Advisors Inc lifted its position in shares of Southern Copper by 1.0% during the 2nd quarter. Ensign Peak Advisors Inc now owns 10,558 shares of the basic materials company's stock valued at $1,138,000 after buying an additional 108 shares in the last quarter. Prudential PLC lifted its position in shares of Southern Copper by 1.0% during the 2nd quarter. Prudential PLC now owns 10,667 shares of the basic materials company's stock valued at $1,149,000 after acquiring an additional 109 shares during the period. Tyche Wealth Partners LLC boosted its stake in shares of Southern Copper by 0.6% during the 3rd quarter. Tyche Wealth Partners LLC now owns 19,685 shares of the basic materials company's stock worth $2,277,000 after purchasing an additional 109 shares during the last quarter. Greenwood Capital Associates LLC raised its holdings in shares of Southern Copper by 0.7% in the 3rd quarter. Greenwood Capital Associates LLC now owns 15,722 shares of the basic materials company's stock worth $1,819,000 after purchasing an additional 112 shares during the period. Finally, Inspire Advisors LLC increased its stake in Southern Copper by 3.9% during the 3rd quarter. Inspire Advisors LLC now owns 3,001 shares of the basic materials company's stock worth $347,000 after buying an additional 113 shares during the period. 7.94% of the stock is owned by hedge funds and other institutional investors.

Southern Copper Stock Down 2.0 %

NYSE:SCCO traded down $2.06 during trading hours on Tuesday, hitting $102.70. The stock had a trading volume of 1,063,517 shares, compared to its average volume of 1,148,769. Southern Copper Co. has a 1-year low of $70.13 and a 1-year high of $129.79. The company has a current ratio of 2.77, a quick ratio of 2.31 and a debt-to-equity ratio of 0.64. The company has a market cap of $80.67 billion, a PE ratio of 26.99, a price-to-earnings-growth ratio of 1.10 and a beta of 1.18. The business has a 50 day simple moving average of $109.32 and a two-hundred day simple moving average of $109.94.

Southern Copper Announces Dividend

The company also recently announced a -- dividend, which will be paid on Thursday, November 21st. Shareholders of record on Wednesday, November 6th will be given a dividend of $0.62 per share. This represents a yield of 2.1%. The ex-dividend date is Wednesday, November 6th. Southern Copper's dividend payout ratio is 72.09%.

Analysts Set New Price Targets

A number of research firms recently commented on SCCO. Citigroup increased their price objective on Southern Copper from $99.44 to $100.00 and gave the stock a "sell" rating in a report on Wednesday, October 2nd. Morgan Stanley boosted their price target on Southern Copper from $97.00 to $100.00 and gave the company an "underweight" rating in a report on Thursday, September 19th. Finally, Scotiabank dropped their price target on Southern Copper from $54.00 to $52.00 and set a "sector underperform" rating for the company in a report on Tuesday, October 15th. Six research 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. Based on data from MarketBeat, Southern Copper presently has an average rating of "Hold" and an average target price of $90.63.

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.