Dynamic Technology Lab Private Ltd Reduces Stake in Southern Copper Co. (NYSE:SCCO)

Dynamic Technology Lab Private Ltd reduced its position in Southern Copper Co. (NYSE:SCCO - Free Report) by 76.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,012 shares of the basic materials company's stock after selling 10,045 shares during the period. Dynamic Technology Lab Private Ltd's holdings in Southern Copper were worth $348,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Creative Financial Designs Inc. ADV increased its holdings in Southern Copper by 172.0% during the third quarter. Creative Financial Designs Inc. ADV now owns 223 shares of the basic materials company's stock valued at $26,000 after buying an additional 141 shares during the last quarter. McClarren Financial Advisors Inc. increased its stake in shares of Southern Copper by 169.2% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 288 shares of the basic materials company's stock worth $33,000 after purchasing an additional 181 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new stake in shares of Southern Copper in the 2nd quarter worth $31,000. Oakworth Capital Inc. bought a new position in Southern Copper in the 3rd quarter worth $42,000. Finally, Larson Financial Group LLC grew its holdings 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 period. Hedge funds and other institutional investors own 7.94% of the company's stock.

Southern Copper Price Performance

Shares of Southern Copper stock traded up $0.64 on Friday, hitting $100.35. 431,715 shares of the company traded hands, compared to its average volume of 865,629. The business has a 50-day simple moving average of $110.08 and a 200 day simple moving average of $108.28. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.77. Southern Copper Co. has a 52 week low of $70.92 and a 52 week high of $129.79. The stock has a market capitalization of $78.83 billion, a P/E ratio of 25.86, a price-to-earnings-growth ratio of 1.55 and a beta of 1.18.

Southern Copper Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts have recently commented on SCCO shares. Morgan Stanley raised their price objective on Southern Copper from $97.00 to $100.00 and gave the stock an "underweight" rating in a research note on Thursday, September 19th. Citigroup raised their target price 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, Scotiabank dropped their price target 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. Six investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target 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.