Stifel Financial Corp raised its position in Southern Copper Corporation (NYSE:SCCO) by 20.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 31,223 shares of the basic materials company’s stock after buying an additional 5,329 shares during the period. Stifel Financial Corp’s holdings in Southern Copper Corporation were worth $1,082,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of SCCO. Bessemer Group Inc. boosted its holdings in Southern Copper Corporation by 114.5% in the 2nd quarter. Bessemer Group Inc. now owns 3,692 shares of the basic materials company’s stock worth $128,000 after buying an additional 1,971 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Southern Copper Corporation in the 2nd quarter worth about $134,000. FNY Partners Fund LP acquired a new stake in Southern Copper Corporation in the 1st quarter worth about $145,000. Sit Investment Associates Inc. boosted its holdings in Southern Copper Corporation by 68.8% in the 2nd quarter. Sit Investment Associates Inc. now owns 5,400 shares of the basic materials company’s stock worth $187,000 after buying an additional 2,200 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Southern Copper Corporation by 3.6% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,820 shares of the basic materials company’s stock worth $202,000 after buying an additional 200 shares during the last quarter. Institutional investors own 6.05% of the company’s stock.
Shares of Southern Copper Corporation (NYSE:SCCO) opened at 43.13 on Monday. The company has a 50-day moving average price of $40.82 and a 200 day moving average price of $37.56. Southern Copper Corporation has a 12-month low of $26.52 and a 12-month high of $44.15. The firm has a market capitalization of $33.34 billion, a PE ratio of 33.91 and a beta of 0.53.
Several equities research analysts recently issued reports on the company. BidaskClub upgraded Southern Copper Corporation from a “buy” rating to a “strong-buy” rating in a report on Tuesday, October 17th. HSBC Holdings plc cut Southern Copper Corporation from a “buy” rating to a “hold” rating and set a $41.00 price objective on the stock. in a report on Wednesday, August 16th. Barclays PLC lifted their price objective on Southern Copper Corporation from $33.00 to $35.00 and gave the stock an “underweight” rating in a report on Wednesday, August 9th. Finally, Cowen and Company reiterated a “hold” rating and issued a $39.00 price objective on shares of Southern Copper Corporation in a report on Wednesday, July 19th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $35.33.
In other Southern Copper Corporation news, Chairman German Larrea Mota Velasco sold 135,000 shares of the stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $39.44, for a total value of $5,324,400.00. Following the completion of the transaction, the chairman now directly owns 3,737,967 shares of the company’s stock, valued at $147,425,418.48. The sale was disclosed in a filing with the SEC, which is available at this link. Over the last ninety days, insiders sold 900,670 shares of company stock valued at $35,575,771. 0.53% of the stock is currently owned by corporate insiders.
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.
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