Ossiam Acquires 167,956 Shares of Southern Copper Corporation $SCCO

Ossiam raised its holdings in Southern Copper Corporation (NYSE:SCCO) by 236,557.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 168,027 shares of the basic materials company’s stock after purchasing an additional 167,956 shares during the quarter. Ossiam’s holdings in Southern Copper were worth $16,999,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in SCCO. PNC Financial Services Group Inc. increased its stake in shares of Southern Copper by 1.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 17,547 shares of the basic materials company’s stock worth $1,640,000 after purchasing an additional 180 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Southern Copper by 0.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 239,516 shares of the basic materials company’s stock valued at $22,385,000 after purchasing an additional 2,079 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Southern Copper by 27.5% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 97,157 shares of the basic materials company’s stock valued at $9,080,000 after purchasing an additional 20,942 shares during the period. Swiss National Bank increased its position in Southern Copper by 1.0% in the first quarter. Swiss National Bank now owns 198,903 shares of the basic materials company’s stock worth $18,589,000 after buying an additional 2,037 shares during the last quarter. Finally, Citigroup Inc. raised its stake in shares of Southern Copper by 41.5% in the first quarter. Citigroup Inc. now owns 264,108 shares of the basic materials company’s stock valued at $24,684,000 after buying an additional 77,454 shares during the period. 7.94% of the stock is owned by hedge funds and other institutional investors.

Southern Copper Stock Performance

NYSE SCCO opened at $140.55 on Monday. Southern Copper Corporation has a 52-week low of $74.84 and a 52-week high of $144.81. The company has a fifty day moving average of $131.72 and a 200-day moving average of $110.55. The company has a market capitalization of $114.15 billion, a P/E ratio of 29.47, a P/E/G ratio of 1.31 and a beta of 1.07. The company has a debt-to-equity ratio of 0.64, a quick ratio of 3.91 and a current ratio of 4.52.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings data 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. The firm had revenue of $3.38 billion during the quarter, compared to analysts’ expectations of $3.05 billion. Southern Copper had a return on equity of 38.74% and a net margin of 30.98%. As a group, equities research analysts predict that Southern Copper Corporation will post 4.66 EPS for the current fiscal year.

Southern Copper Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Wednesday, November 12th were issued a dividend of $0.90 per share. The ex-dividend date was Wednesday, November 12th. This represents a $3.60 annualized dividend and a yield of 2.6%. Southern Copper’s dividend payout ratio is currently 75.47%.

Insider Transactions at Southern Copper

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 400 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director owned 1,265 shares in the company, valued at approximately $175,835. The trade was a 24.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders sold 1,148 shares of company stock worth $152,218. 0.07% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Southern Copper in a research report on Monday, December 1st. Morgan Stanley set a $132.00 price objective on Southern Copper and gave the company an “equal weight” rating in a research note on Wednesday, October 8th. HSBC restated a “hold” rating and issued a $118.00 target price (up previously from $105.00) on shares of Southern Copper in a research note on Friday, October 17th. Wells Fargo & Company upped their price target on Southern Copper from $121.00 to $137.00 and gave the company an “equal weight” rating in a research report on Thursday, October 30th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Southern Copper from $92.00 to $114.50 and gave the company a “neutral” rating in a research report on Monday, October 27th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $117.94.

About Southern Copper

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.