Verus Capital Partners LLC Sells 826 Shares of Southern Copper Co. (NYSE:SCCO)

Verus Capital Partners LLC reduced its position in shares of Southern Copper Co. (NYSE:SCCO) by 21.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,940 shares of the basic materials company’s stock after selling 826 shares during the quarter. Verus Capital Partners LLC’s holdings in Southern Copper were worth $340,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First National Trust Co increased its stake in shares of Southern Copper by 0.6% in the 3rd quarter. First National Trust Co now owns 37,726 shares of the basic materials company’s stock valued at $4,364,000 after acquiring an additional 207 shares during the last quarter. Vantage Investment Partners LLC increased its stake in shares of Southern Copper by 0.4% in the 3rd quarter. Vantage Investment Partners LLC now owns 114,567 shares of the basic materials company’s stock valued at $13,252,000 after acquiring an additional 412 shares during the last quarter. Nations Financial Group Inc. IA ADV bought a new stake in shares of Southern Copper in the 3rd quarter valued at about $805,000. Laffer Tengler Investments Inc. increased its stake in shares of Southern Copper by 8.0% in the 3rd quarter. Laffer Tengler Investments Inc. now owns 3,759 shares of the basic materials company’s stock valued at $435,000 after acquiring an additional 280 shares during the last quarter. Finally, United Capital Management of KS Inc. bought a new stake in shares of Southern Copper in the 3rd quarter valued at about $217,000. 7.94% of the stock is owned by institutional investors.

Southern Copper Trading Down 1.7 %

NYSE:SCCO opened at $100.99 on Thursday. Southern Copper Co. has a twelve month low of $70.63 and a twelve month high of $129.79. The company has a quick ratio of 2.31, a current ratio of 2.77 and a debt-to-equity ratio of 0.64. The business has a 50 day moving average price of $109.45 and a two-hundred day moving average price of $109.84. The company has a market cap of $79.33 billion, a P/E ratio of 26.00, a price-to-earnings-growth ratio of 1.06 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. 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 of this dividend is Wednesday, November 6th. Southern Copper’s dividend payout ratio (DPR) is currently 72.09%.

Analyst Upgrades and Downgrades

SCCO has been the subject of a number of recent analyst reports. Scotiabank lowered their price target on 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 price objective on Southern Copper from $97.00 to $100.00 and gave the company an “underweight” rating in a research report on Thursday, September 19th. Finally, Citigroup boosted their price objective 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 investment analysts have rated the stock with a sell rating, one has assigned 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 price target of $90.63.

Southern Copper Company 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.