Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Acquires 2,539 Shares of Southern Copper Corporation (SCCO)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in shares of Southern Copper Corporation (NYSE:SCCO) by 33.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 10,046 shares of the basic materials company’s stock after purchasing an additional 2,539 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Southern Copper Corporation were worth $399,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in SCCO. Prudential Financial Inc. grew its holdings in shares of Southern Copper Corporation by 131.2% during the 2nd quarter. Prudential Financial Inc. now owns 1,223,889 shares of the basic materials company’s stock valued at $42,384,000 after purchasing an additional 694,600 shares during the last quarter. Manning & Napier Advisors LLC grew its holdings in shares of Southern Copper Corporation by 10.5% during the 2nd quarter. Manning & Napier Advisors LLC now owns 1,776,807 shares of the basic materials company’s stock valued at $61,529,000 after purchasing an additional 168,577 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Southern Copper Corporation by 2,712.4% during the 2nd quarter. Janus Henderson Group PLC now owns 163,600 shares of the basic materials company’s stock valued at $5,665,000 after purchasing an additional 157,783 shares during the last quarter. Commerzbank Aktiengesellschaft FI grew its holdings in shares of Southern Copper Corporation by 342.1% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 154,340 shares of the basic materials company’s stock valued at $5,345,000 after purchasing an additional 119,429 shares during the last quarter. Finally, APG Asset Management N.V. grew its holdings in shares of Southern Copper Corporation by 20.4% during the 2nd quarter. APG Asset Management N.V. now owns 683,200 shares of the basic materials company’s stock valued at $23,659,000 after purchasing an additional 115,700 shares during the last quarter. 6.04% of the stock is currently owned by institutional investors.

Shares of Southern Copper Corporation (NYSE SCCO) opened at $42.90 on Wednesday. Southern Copper Corporation has a 12-month low of $31.15 and a 12-month high of $44.69. The company has a debt-to-equity ratio of 0.90, a current ratio of 3.01 and a quick ratio of 2.00. The company has a market cap of $33,959.12, a PE ratio of 34.32, a PEG ratio of 0.70 and a beta of 0.63.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Wednesday, November 8th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.33%. This is a boost from Southern Copper Corporation’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Tuesday, November 7th. Southern Copper Corporation’s dividend payout ratio (DPR) is currently 78.13%.

Several brokerages have weighed in on SCCO. B. Riley reissued a “buy” rating on shares of Southern Copper Corporation in a research report on Wednesday, November 1st. Cowen and Company reissued a “hold” rating and set a $39.00 price target on shares of Southern Copper Corporation in a research report on Wednesday, July 19th. BidaskClub raised shares of Southern Copper Corporation from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 24th. Scotiabank cut shares of Southern Copper Corporation from a “sector perform” rating to an “underperform” rating in a research report on Monday, October 23rd. Finally, FBR & Co reissued a “buy” rating on shares of Southern Copper Corporation in a research report on Monday, October 23rd. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. Southern Copper Corporation currently has a consensus rating of “Hold” and an average price target of $38.88.

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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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Institutional Ownership by Quarter for Southern Copper Corporation (NYSE:SCCO)

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