Robeco Institutional Asset Management B.V. Has $23.74 Million Holdings in Southern Copper Corporation $SCCO

Robeco Institutional Asset Management B.V. raised its holdings in Southern Copper Corporation (NYSE:SCCO) by 6.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 195,595 shares of the basic materials company’s stock after buying an additional 11,485 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Southern Copper were worth $23,737,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Norges Bank acquired a new position in shares of Southern Copper during the 2nd quarter worth approximately $57,901,000. HRT Financial LP bought a new position in Southern Copper during the second quarter worth $29,771,000. Man Group plc increased its holdings in shares of Southern Copper by 65.4% in the second quarter. Man Group plc now owns 467,119 shares of the basic materials company’s stock valued at $47,258,000 after purchasing an additional 184,641 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Southern Copper by 10.8% in the second quarter. JPMorgan Chase & Co. now owns 1,719,883 shares of the basic materials company’s stock valued at $174,002,000 after purchasing an additional 168,005 shares during the period. Finally, Ossiam lifted its stake in shares of Southern Copper by 236,557.7% during the 2nd quarter. Ossiam now owns 168,027 shares of the basic materials company’s stock worth $16,999,000 after buying an additional 167,956 shares during the last quarter. 7.94% of the stock is currently owned by institutional investors.

Southern Copper Stock Up 1.5%

Shares of SCCO opened at $160.47 on Friday. The company has a current ratio of 4.52, a quick ratio of 3.91 and a debt-to-equity ratio of 0.64. Southern Copper Corporation has a 12 month low of $74.84 and a 12 month high of $161.59. The firm’s 50 day moving average is $139.77 and its 200-day moving average is $119.13. The stock has a market capitalization of $130.34 billion, a PE ratio of 33.64, a P/E/G ratio of 1.24 and a beta of 1.06.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings results on Friday, October 31st. The basic materials company reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.09. Southern Copper had a return on equity of 38.74% and a net margin of 30.98%.The business had revenue of $3.38 billion for the quarter, compared to the consensus estimate of $3.05 billion. Equities research analysts forecast that Southern Copper Corporation will post 4.66 EPS for the current year.

Southern Copper Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Wednesday, November 12th were issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Wednesday, November 12th. Southern Copper’s dividend payout ratio is 75.47%.

Insider Activity at Southern Copper

In related news, Director Bonilla Luis Miguel Palomino sold 400 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $139.00, for a total value of $55,600.00. Following the transaction, the director owned 1,265 shares in the company, valued at approximately $175,835. This trade represents a 24.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 948 shares of company stock valued at $131,130 in the last quarter. 0.07% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently commented on SCCO. Jefferies Financial Group set a $155.00 price target on shares of Southern Copper and gave the company a “buy” rating in a research note on Monday, October 6th. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $115.00 target price (up previously from $89.00) on shares of Southern Copper in a research report on Wednesday, October 29th. UBS Group reissued a “neutral” rating and set a $143.00 price target (up from $135.00) on shares of Southern Copper in a report on Friday, December 12th. Zacks Research downgraded Southern Copper from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 8th. Finally, Morgan Stanley set a $138.00 price objective on Southern Copper and gave the company an “underweight” rating in a report on Monday, December 15th. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $123.85.

About Southern Copper

Southern Copper Corporation (NYSE: SCCO) is a large, integrated copper producer whose operations span the full value chain from exploration and mining to smelting, refining and the sale of copper and other metal products. The company produces a range of copper products including copper concentrate and refined cathodes, and recovers valuable byproducts such as molybdenum, silver and zinc. Southern Copper concentrates on high-volume, long-life assets designed to support steady production and processing capabilities.

Southern Copper’s operations are concentrated in Peru and Mexico, where it owns and operates multiple large-scale mining and processing facilities.