Venture Visionary Partners LLC Decreases Stake in Southern Copper Co. (NYSE:SCCO)

Venture Visionary Partners LLC cut its stake in shares of Southern Copper Co. (NYSE:SCCO - Free Report) by 71.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,507 shares of the basic materials company's stock after selling 11,270 shares during the quarter. Venture Visionary Partners LLC's holdings in Southern Copper were worth $521,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Capital World Investors acquired a new position in Southern Copper in the 1st quarter valued at approximately $340,373,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Southern Copper by 18.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,771,332 shares of the basic materials company's stock worth $827,804,000 after acquiring an additional 1,192,111 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Southern Copper by 54.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,541,396 shares of the basic materials company's stock valued at $164,190,000 after acquiring an additional 544,312 shares during the last quarter. Los Angeles Capital Management LLC increased its position in Southern Copper by 1,300.4% during the 2nd quarter. Los Angeles Capital Management LLC now owns 443,285 shares of the basic materials company's stock valued at $47,760,000 after purchasing an additional 411,630 shares during the period. Finally, Lord Abbett & CO. LLC bought a new position in Southern Copper during the 1st quarter worth approximately $27,163,000. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Southern Copper Stock Down 0.7 %

Shares of NYSE SCCO traded down $0.75 during mid-day trading on Wednesday, reaching $113.82. 964,903 shares of the company's stock traded hands, compared to its average volume of 1,163,069. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.81 and a quick ratio of 2.27. Southern Copper Co. has a 1-year low of $68.93 and a 1-year high of $129.79. The stock has a market cap of $88.91 billion, a P/E ratio of 32.28, a PEG ratio of 1.17 and a beta of 1.18. The business has a 50-day simple moving average of $107.22 and a 200 day simple moving average of $110.14.

Southern Copper Announces Dividend

The business also recently announced a -- dividend, which will be paid on Thursday, November 21st. Stockholders of record on Wednesday, November 6th will be issued a $0.62 dividend. The ex-dividend date is Wednesday, November 6th. This represents a dividend yield of 2.1%. Southern Copper's dividend payout ratio is presently 68.07%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on SCCO shares. UBS Group assumed coverage on shares of Southern Copper in a research report on Friday, July 12th. They set a "neutral" rating and a $120.00 price objective for the company. Citigroup lifted their price objective on Southern Copper from $99.44 to $100.00 and gave the stock a "sell" rating in a research report on Wednesday, October 2nd. Scotiabank cut their price target on Southern Copper from $54.00 to $52.00 and set a "sector underperform" rating on the stock in a report on Tuesday, October 15th. Finally, Morgan Stanley increased their target price on shares of Southern Copper from $97.00 to $100.00 and gave the stock an "underweight" rating in a research note on Thursday, September 19th. Six equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus 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.