GoalVest Advisory LLC Sells 3,237 Shares of Southern Copper Co. (NYSE:SCCO)

GoalVest Advisory LLC lowered its stake in shares of Southern Copper Co. (NYSE:SCCO) by 16.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,540 shares of the basic materials company’s stock after selling 3,237 shares during the quarter. Southern Copper comprises approximately 0.5% of GoalVest Advisory LLC’s investment portfolio, making the stock its 29th biggest position. GoalVest Advisory LLC’s holdings in Southern Copper were worth $1,913,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Cetera Investment Advisers lifted its stake in Southern Copper by 395.1% during the first quarter. Cetera Investment Advisers now owns 38,803 shares of the basic materials company’s stock worth $4,133,000 after purchasing an additional 30,966 shares during the last quarter. Advisors Asset Management Inc. increased its position in Southern Copper by 21.7% during the 1st quarter. Advisors Asset Management Inc. now owns 90,237 shares of the basic materials company’s stock worth $9,612,000 after purchasing an additional 16,111 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its position in Southern Copper by 182.3% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 278,119 shares of the basic materials company’s stock worth $29,625,000 after purchasing an additional 179,590 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in 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 valued at $827,804,000 after buying an additional 1,192,111 shares in the last quarter. Finally, Gateway Advisory LLC bought a new stake in shares of Southern Copper during the second quarter worth $625,000. Institutional investors own 7.94% of the company’s stock.

Southern Copper Stock Performance

Shares of Southern Copper stock opened at $99.24 on Friday. The company has a quick ratio of 2.31, a current ratio of 2.77 and a debt-to-equity ratio of 0.64. Southern Copper Co. has a twelve month low of $70.63 and a twelve month high of $129.79. The stock has a market cap of $77.96 billion, a price-to-earnings ratio of 25.55, a P/E/G ratio of 1.02 and a beta of 1.18. The company’s fifty day moving average is $109.72 and its 200 day moving average is $109.51.

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. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a yield of 2.1%. Southern Copper’s dividend payout ratio (DPR) is currently 72.09%.

Analyst Ratings Changes

A number of brokerages have recently commented on SCCO. Citigroup increased their price target on Southern Copper from $99.44 to $100.00 and gave the company a “sell” rating in a research note on Wednesday, October 2nd. Morgan Stanley increased their target price 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, Scotiabank reduced 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. Six research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price 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.