Mawer Investment Management Ltd. Lowers Stake in Southern Copper Co. (NYSE:SCCO)

Mawer Investment Management Ltd. trimmed its holdings in shares of Southern Copper Co. (NYSE:SCCO - Free Report) by 16.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,609,122 shares of the basic materials company's stock after selling 308,418 shares during the quarter. Mawer Investment Management Ltd. owned 0.21% of Southern Copper worth $186,127,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of SCCO. Ensign Peak Advisors Inc grew its stake in shares of Southern Copper by 1.0% in the second 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 second quarter. Prudential PLC now owns 10,667 shares of the basic materials company's stock worth $1,149,000 after purchasing an additional 109 shares in the last quarter. Tyche Wealth Partners LLC boosted its stake in shares of Southern Copper by 0.6% in the third quarter. Tyche Wealth Partners LLC now owns 19,685 shares of the basic materials company's stock valued at $2,277,000 after purchasing an additional 109 shares during the period. Greenwood Capital Associates LLC grew its holdings in shares of Southern Copper by 0.7% in the third quarter. Greenwood Capital Associates LLC now owns 15,722 shares of the basic materials company's stock valued at $1,819,000 after purchasing an additional 112 shares in the last quarter. 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 currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on SCCO. 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 note on Tuesday, October 15th. Morgan Stanley boosted their target price on Southern Copper from $97.00 to $100.00 and gave the stock an "underweight" rating in a research note on Thursday, September 19th. Finally, Citigroup increased their price target on Southern Copper from $99.44 to $100.00 and gave the company a "sell" rating in a research report on Wednesday, October 2nd. Six analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $90.63.

Southern Copper Stock Up 2.6 %

Shares of Southern Copper stock traded up $2.59 during trading hours on Monday, hitting $101.83. The company had a trading volume of 638,467 shares, compared to its average volume of 1,142,644. The company's 50-day moving average is $109.72 and its two-hundred day moving average is $109.47. Southern Copper Co. has a twelve month low of $70.63 and a twelve month high of $129.79. 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 cap of $79.99 billion, a P/E ratio of 25.55, a price-to-earnings-growth ratio of 1.02 and a beta of 1.18.

Southern Copper Announces Dividend

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