Oppenheimer & Co. Inc. Sells 25,121 Shares of Southern Copper Co. (NYSE:SCCO)

Oppenheimer & Co. Inc. lessened its stake in shares of Southern Copper Co. (NYSE:SCCO - Free Report) by 93.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,903 shares of the basic materials company's stock after selling 25,121 shares during the period. Oppenheimer & Co. Inc.'s holdings in Southern Copper were worth $220,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cetera Investment Advisers boosted its position in shares of Southern Copper by 395.1% during the 1st quarter. Cetera Investment Advisers now owns 38,803 shares of the basic materials company's stock worth $4,133,000 after acquiring an additional 30,966 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Southern Copper by 18.1% during 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 purchasing an additional 1,192,111 shares during the last quarter. Gateway Advisory LLC acquired a new stake in shares of Southern Copper in the 2nd quarter valued at $625,000. Lazard Asset Management LLC increased its stake in shares of Southern Copper by 421.6% in the 1st quarter. Lazard Asset Management LLC now owns 155,265 shares of the basic materials company's stock valued at $16,538,000 after purchasing an additional 125,496 shares during the last quarter. Finally, Toronto Dominion Bank raised its holdings in shares of Southern Copper by 15.2% during the 1st quarter. Toronto Dominion Bank now owns 5,145 shares of the basic materials company's stock worth $542,000 after buying an additional 679 shares in the last quarter. 7.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SCCO. Citigroup raised their price objective on Southern Copper from $99.44 to $100.00 and gave the company a "sell" rating in a research note on Wednesday, October 2nd. Scotiabank decreased their price target on shares of 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 price objective on shares of Southern Copper from $97.00 to $100.00 and gave the company an "underweight" rating in a research note on Thursday, September 19th. Six investment analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $90.63.

Southern Copper Trading Down 0.9 %

Shares of NYSE:SCCO traded down $0.94 during mid-day trading on Friday, reaching $99.74. 853,410 shares of the company's stock were exchanged, compared to its average volume of 896,900. 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 twelve month low of $70.63 and a twelve month high of $129.79. The firm has a market capitalization of $78.35 billion, a price-to-earnings ratio of 25.68, a PEG ratio of 1.04 and a beta of 1.18. The business's fifty day moving average price is $110.24 and its 200-day moving average price is $109.04.

Southern Copper Announces Dividend

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