Southern Copper Corporation $SCCO Shares Bought by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Southern Copper Corporation (NYSE:SCCO) by 2.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,290,648 shares of the basic materials company’s stock after purchasing an additional 27,744 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Southern Copper were worth $224,908,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of SCCO. Royal Bank of Canada grew its holdings in Southern Copper by 42.1% during the 1st quarter. Royal Bank of Canada now owns 44,879 shares of the basic materials company’s stock valued at $4,194,000 after buying an additional 13,293 shares during the last quarter. Empowered Funds LLC lifted its position in shares of Southern Copper by 17.9% in the first quarter. Empowered Funds LLC now owns 6,705 shares of the basic materials company’s stock valued at $627,000 after acquiring an additional 1,020 shares in the last quarter. Focus Partners Wealth boosted its stake in shares of Southern Copper by 21.5% during the first quarter. Focus Partners Wealth now owns 5,944 shares of the basic materials company’s stock valued at $556,000 after acquiring an additional 1,052 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of Southern Copper by 37.4% during the second quarter. First Trust Advisors LP now owns 73,379 shares of the basic materials company’s stock valued at $7,424,000 after acquiring an additional 19,957 shares during the last quarter. Finally, Baird Financial Group Inc. raised its stake in Southern Copper by 17.7% in the 2nd quarter. Baird Financial Group Inc. now owns 4,864 shares of the basic materials company’s stock valued at $492,000 after purchasing an additional 731 shares during the last quarter. 7.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on SCCO shares. UBS Group restated a “sell” rating and issued a $158.10 target price (up from $143.28) on shares of Southern Copper in a report on Tuesday, June 30th. Barclays set a $164.03 price objective on shares of Southern Copper and gave the company an “underweight” rating in a research note on Thursday, July 23rd. CICC Research cut shares of Southern Copper to a “market perform” rating in a research note on Sunday, July 26th. Citigroup reiterated a “positive” rating on shares of Southern Copper in a report on Wednesday, July 15th. Finally, Scotiabank reissued an “underperform” rating and set a $138.34 price target (up from $133.40) on shares of Southern Copper in a research note on Monday, June 15th. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and seven have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $146.84.

Insider Transactions at Southern Copper

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 202 shares of the business’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $196.79, for a total transaction of $39,751.28. Following the completion of the sale, the director owned 1,723 shares of the company’s stock, valued at approximately $339,066.65. The trade was a 10.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 408 shares of company stock worth $77,793 over the last ninety days. 0.07% of the stock is currently owned by insiders.

Southern Copper Stock Performance

NYSE:SCCO opened at $209.09 on Tuesday. The company has a market cap of $174.45 billion, a P/E ratio of 30.57, a P/E/G ratio of 1.80 and a beta of 1.11. The firm’s 50 day moving average is $185.12 and its two-hundred day moving average is $183.86. Southern Copper Corporation has a fifty-two week low of $92.94 and a fifty-two week high of $223.88. The company has a quick ratio of 4.56, a current ratio of 5.06 and a debt-to-equity ratio of 0.63.

Southern Copper (NYSE:SCCO) last announced its quarterly earnings data on Wednesday, July 22nd. The basic materials company reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.06. The company had revenue of $4.29 billion during the quarter, compared to analysts’ expectations of $4.37 billion. Southern Copper had a net margin of 35.87% and a return on equity of 49.04%. The firm’s quarterly revenue was up 40.6% compared to the same quarter last year. Analysts expect that Southern Copper Corporation will post 7.61 EPS for the current year.

Southern Copper Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Investors of record on Tuesday, August 11th were issued a $1.10 dividend. The ex-dividend date was Tuesday, August 11th. This is an increase from Southern Copper’s previous quarterly dividend of $1.00. This represents a $4.40 dividend on an annualized basis and a yield of 2.1%. Southern Copper’s payout ratio is 64.33%.

Southern Copper Profile

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.