Swiss National Bank grew its position in shares of Southern Copper Corporation (NYSE:SCCO) by 5.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 380,226 shares of the basic materials company’s stock after buying an additional 20,500 shares during the quarter. Swiss National Bank’s holdings in Southern Copper Corporation were worth $13,167,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently made changes to their positions in SCCO. Tobam lifted its holdings in Southern Copper Corporation by 1,003.8% in the first quarter. Tobam now owns 3,223 shares of the basic materials company’s stock valued at $116,000 after buying an additional 2,931 shares during the period. Bessemer Group Inc. lifted its holdings in Southern Copper Corporation by 114.5% in the second quarter. Bessemer Group Inc. now owns 3,692 shares of the basic materials company’s stock valued at $128,000 after buying an additional 1,971 shares during the period. SG Americas Securities LLC acquired a new position in Southern Copper Corporation in the second quarter valued at approximately $134,000. FNY Partners Fund LP acquired a new stake in Southern Copper Corporation in the first quarter worth $145,000. Finally, Sit Investment Associates Inc. raised its holdings in Southern Copper Corporation by 68.8% in the second quarter. Sit Investment Associates Inc. now owns 5,400 shares of the basic materials company’s stock worth $187,000 after purchasing an additional 2,200 shares during the period. Institutional investors own 6.05% of the company’s stock.
In other Southern Copper Corporation news, Chairman German Larrea Mota Velasco sold 25,070 shares of the company’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $39.50, for a total value of $990,265.00. Following the transaction, the chairman now owns 3,477,097 shares of the company’s stock, valued at approximately $137,345,331.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 900,670 shares of company stock worth $35,575,771 in the last ninety days. 0.53% of the stock is currently owned by corporate insiders.
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Several equities research analysts have recently issued reports on SCCO shares. BidaskClub raised shares of Southern Copper Corporation from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 24th. HSBC Holdings plc downgraded shares of Southern Copper Corporation from a “buy” rating to a “hold” rating and set a $41.00 target price for the company. in a research report on Wednesday, August 16th. Barclays PLC raised their target price on shares of Southern Copper Corporation from $33.00 to $35.00 and gave the company an “underweight” rating in a research report on Wednesday, August 9th. Cowen and Company reiterated a “hold” rating and issued a $39.00 price target on shares of Southern Copper Corporation in a research note on Wednesday, July 19th. Finally, FBR & Co cut their price target on shares of Southern Copper Corporation from $43.00 to $42.00 and set an “outperform” rating for the company in a research note on Friday, June 16th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Southern Copper Corporation has an average rating of “Hold” and an average price target of $36.29.
Southern Copper Corporation (SCCO) opened at 39.88 on Tuesday. The company has a market capitalization of $30.83 billion, a price-to-earnings ratio of 31.35 and a beta of 0.55. The firm has a 50-day moving average of $39.88 and a 200 day moving average of $36.70. Southern Copper Corporation has a 12-month low of $25.39 and a 12-month high of $42.00.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 23rd. Shareholders of record on Wednesday, August 9th were given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.40%. The ex-dividend date was Monday, August 7th. This is an increase from Southern Copper Corporation’s previous quarterly dividend of $0.12. Southern Copper Corporation’s dividend payout ratio is 43.75%.
About Southern Copper Corporation
Southern Copper Corporation is an integrated copper producer. It produces copper and, in the production process, obtains several by-products, including molybdenum, silver, zinc, sulfuric acid and other metals. Its segments include the Peruvian operations, the Mexican open-pit operations and the Mexican underground mining operations segment identified as the IMMSA unit.
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