Amalgamated Bank Takes Position in Southern Copper Corporation (SCCO)

Amalgamated Bank bought a new position in Southern Copper Corporation (NYSE:SCCO) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 8,382 shares of the basic materials company’s stock, valued at approximately $290,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Bessemer Group Inc. lifted its position 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 purchasing an additional 1,971 shares during the last quarter. SG Americas Securities LLC bought a new stake in Southern Copper Corporation in the second quarter valued at approximately $134,000. FNY Partners Fund LP bought a new stake in Southern Copper Corporation in the first quarter valued at approximately $145,000. Sit Investment Associates Inc. lifted its position 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 valued at $187,000 after purchasing an additional 2,200 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Southern Copper Corporation by 3.6% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,820 shares of the basic materials company’s stock valued at $202,000 after purchasing an additional 200 shares during the last quarter. Institutional investors own 6.05% of the company’s stock.

In related news, Chairman German Larrea Mota Velasco sold 25,070 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $39.50, for a total transaction of $990,265.00. Following the completion of the sale, the chairman now directly 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 available through this hyperlink. Insiders have sold a total of 900,670 shares of company stock valued at $35,575,771 over the last three months. 0.53% of the stock is owned by corporate insiders.

Southern Copper Corporation (NYSE:SCCO) opened at 43.13 on Friday. The company has a market cap of $33.34 billion, a P/E ratio of 33.91 and a beta of 0.53. Southern Copper Corporation has a one year low of $26.05 and a one year high of $43.89. The company’s 50 day moving average price is $40.82 and its 200-day moving average price is $37.56.

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Several analysts have weighed in on SCCO shares. Cowen and Company reiterated a “hold” rating and issued a $39.00 price objective on shares of Southern Copper Corporation in a research report on Wednesday, July 19th. BidaskClub upgraded Southern Copper Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Barclays PLC upped their target price on Southern Copper Corporation from $33.00 to $35.00 and gave the company an “underweight” rating in a report on Wednesday, August 9th. Finally, HSBC Holdings plc downgraded Southern Copper Corporation from a “buy” rating to a “hold&

A number of other large investors have also recently added to or reduced their stakes in the stock. Bessemer Group Inc. lifted its position 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 purchasing an additional 1,971 shares during the last quarter. SG Americas Securities LLC bought a new stake in Southern Copper Corporation in the second quarter valued at approximately $134,000. FNY Partners Fund LP bought a new stake in Southern Copper Corporation in the first quarter valued at approximately $145,000. Sit Investment Associates Inc. lifted its position 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 valued at $187,000 after purchasing an additional 2,200 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Southern Copper Corporation by 3.6% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,820 shares of the basic materials company’s stock valued at $202,000 after purchasing an additional 200 shares during the last quarter. Institutional investors own 6.05% of the company’s stock.

In related news, Chairman German Larrea Mota Velasco sold 25,070 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $39.50, for a total transaction of $990,265.00. Following the completion of the sale, the chairman now directly 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 available through this hyperlink. Insiders have sold a total of 900,670 shares of company stock valued at $35,575,771 over the last three months. 0.53% of the stock is owned by corporate insiders.

Southern Copper Corporation (NYSE:SCCO) opened at 43.13 on Friday. The company has a market cap of $33.34 billion, a P/E ratio of 33.91 and a beta of 0.53. Southern Copper Corporation has a one year low of $26.05 and a one year high of $43.89. The company’s 50 day moving average price is $40.82 and its 200-day moving average price is $37.56.

ILLEGAL ACTIVITY NOTICE: This piece was posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this piece on another site, it was stolen and reposted in violation of U.S. and international copyright & trademark legislation. The legal version of this piece can be read at https://ledgergazette.com/2017/10/21/amalgamated-bank-invests-290000-in-southern-copper-corporation-scco-stock.html.

Several analysts have weighed in on SCCO shares. Cowen and Company reiterated a “hold” rating and issued a $39.00 price objective on shares of Southern Copper Corporation in a research report on Wednesday, July 19th. BidaskClub upgraded Southern Copper Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Barclays PLC upped their target price on Southern Copper Corporation from $33.00 to $35.00 and gave the company an “underweight” rating in a report on Wednesday, August 9th. Finally, HSBC Holdings plc downgraded Southern Copper Corporation from a “buy” rating to a “hold” rating and set a $41.00 target price for the company. in a report on Wednesday, August 16th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $35.33.

Southern Copper Corporation Company Profile

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.

Institutional Ownership by Quarter for Southern Copper Corporation (NYSE:SCCO)

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