Unigestion Holding SA Cuts Position in Southern Copper Corp (SCCO)

Unigestion Holding SA reduced its stake in shares of Southern Copper Corp (NYSE:SCCO) by 36.7% in the 3rd quarter, Holdings Channel reports. The firm owned 444,088 shares of the basic materials company’s stock after selling 257,199 shares during the quarter. Unigestion Holding SA’s holdings in Southern Copper were worth $19,158,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Fisher Asset Management LLC raised its holdings in Southern Copper by 319.6% in the 3rd quarter. Fisher Asset Management LLC now owns 4,595,692 shares of the basic materials company’s stock valued at $198,258,000 after acquiring an additional 3,500,463 shares during the last quarter. Acadian Asset Management LLC raised its holdings in Southern Copper by 2.8% in the 3rd quarter. Acadian Asset Management LLC now owns 3,609,257 shares of the basic materials company’s stock valued at $155,705,000 after acquiring an additional 99,708 shares during the last quarter. Northern Trust Corp raised its holdings in Southern Copper by 0.8% in the 2nd quarter. Northern Trust Corp now owns 1,039,201 shares of the basic materials company’s stock valued at $48,707,000 after acquiring an additional 8,354 shares during the last quarter. Oakmont Corp raised its holdings in Southern Copper by 259.7% in the 2nd quarter. Oakmont Corp now owns 798,450 shares of the basic materials company’s stock valued at $37,423,000 after acquiring an additional 576,450 shares during the last quarter. Finally, Personal Capital Advisors Corp raised its holdings in Southern Copper by 3.7% in the 3rd quarter. Personal Capital Advisors Corp now owns 780,304 shares of the basic materials company’s stock valued at $33,662,000 after acquiring an additional 27,841 shares during the last quarter. Hedge funds and other institutional investors own 7.97% of the company’s stock.

Shares of Southern Copper stock opened at $39.05 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.71 and a quick ratio of 1.88. Southern Copper Corp has a twelve month low of $35.59 and a twelve month high of $58.09. The firm has a market cap of $30.71 billion, a P/E ratio of 25.79 and a beta of 0.67.

Southern Copper (NYSE:SCCO) last announced its quarterly earnings results on Wednesday, October 24th. The basic materials company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.02). Southern Copper had a return on equity of 14.97% and a net margin of 13.24%. The business had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.80 billion. As a group, sell-side analysts expect that Southern Copper Corp will post 2.18 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 21st. Investors of record on Wednesday, November 7th will be given a dividend of $0.40 per share. The ex-dividend date is Tuesday, November 6th. This represents a $1.60 dividend on an annualized basis and a yield of 4.10%.

Several research analysts have weighed in on SCCO shares. UBS Group upgraded Southern Copper from a “neutral” rating to a “buy” rating and set a $46.00 price target for the company in a report on Friday, November 2nd. Santander cut shares of Southern Copper from a “buy” rating to a “hold” rating in a research note on Tuesday, October 16th. Citigroup raised shares of Southern Copper from a “sell” rating to a “neutral” rating and set a $43.00 price objective for the company in a research note on Monday, October 8th. B. Riley lowered their price objective on shares of Southern Copper from $55.00 to $49.00 and set a “neutral” rating for the company in a research note on Wednesday, September 19th. Finally, Scotiabank set a $40.00 price objective on shares of Southern Copper and gave the company a “sell” rating in a research note on Monday, August 6th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. Southern Copper has a consensus rating of “Hold” and a consensus price target of $46.13.

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Southern Copper Company Profile

Southern Copper Corporation engages in mining, exploring, smelting, and refining copper and other minerals in Peru, Mexico, Argentina, Chile, and Ecuador. 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 and lead.

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

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