Zurcher Kantonalbank Zurich Cantonalbank Sells 6,164 Shares of Southern Copper Corporation (SCCO)

Zurcher Kantonalbank Zurich Cantonalbank cut its holdings in Southern Copper Corporation (NYSE:SCCO) by 18.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 27,539 shares of the basic materials company’s stock after selling 6,164 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Southern Copper Corporation were worth $954,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Hansberger Growth Investors LP raised its position in Southern Copper Corporation by 0.6% in the first quarter. Hansberger Growth Investors LP now owns 53,140 shares of the basic materials company’s stock worth $1,907,000 after acquiring an additional 300 shares during the period. PNC Financial Services Group Inc. raised its position in Southern Copper Corporation by 3.8% in the first quarter. PNC Financial Services Group Inc. now owns 9,827 shares of the basic materials company’s stock worth $353,000 after acquiring an additional 359 shares during the period. M&T Bank Corp raised its position in Southern Copper Corporation by 1.4% in the first quarter. M&T Bank Corp now owns 29,912 shares of the basic materials company’s stock worth $1,073,000 after acquiring an additional 400 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in Southern Copper Corporation by 7.1% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 7,507 shares of the basic materials company’s stock worth $260,000 after acquiring an additional 500 shares during the period. Finally, Waverton Investment Management Ltd raised its position in Southern Copper Corporation by 3.8% in the second quarter. Waverton Investment Management Ltd now owns 14,446 shares of the basic materials company’s stock worth $500,000 after acquiring an additional 528 shares during the period. Institutional investors and hedge funds own 6.05% of the company’s stock.

In related news, Chairman German Larrea Mota Velasco sold 235,800 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $39.51, for a total value of $9,316,458.00. Following the completion of the transaction, the chairman now directly owns 3,502,167 shares in the company, valued at approximately $138,370,618.17. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last quarter, insiders sold 900,670 shares of company stock valued at $35,575,771. Company insiders own 0.53% of the company’s stock.

Shares of Southern Copper Corporation (NYSE SCCO) opened at 40.13 on Tuesday. The stock has a 50 day moving average of $39.82 and a 200-day moving average of $36.58. The stock has a market capitalization of $31.02 billion, a PE ratio of 31.55 and a beta of 0.55. Southern Copper Corporation has a 52 week low of $24.99 and a 52 week high of $42.00.

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 23rd. Investors of record on Wednesday, August 9th were paid a $0.14 dividend. This is a boost from Southern Copper Corporation’s previous quarterly dividend of $0.12. This represents a $0.56 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend was Monday, August 7th. Southern Copper Corporation’s payout ratio is currently 43.75%.

Several research firms have weighed in on SCCO. Cowen and Company reiterated a “hold” rating and issued a $39.00 price target on shares of Southern Copper Corporation in a research report on Wednesday, July 19th. BidaskClub upgraded shares of Southern Copper Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. HSBC Holdings plc downgraded shares of Southern Copper Corporation from a “buy” rating to a “hold” rating and set a $41.00 price target on the stock. in a research report on Wednesday, August 16th. FBR & Co decreased their price target on shares of Southern Copper Corporation from $43.00 to $42.00 and set an “outperform” rating on the stock in a research report on Friday, June 16th. Finally, Barclays PLC increased their price target on shares of Southern Copper Corporation from $33.00 to $35.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 9th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Southern Copper Corporation presently has a consensus rating of “Hold” and a consensus price target of $36.29.

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Southern Copper Corporation 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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