Southern Copper Corporation $SCCO Shares Bought by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

Key Points

• UBS Asset Management increased its Southern Copper stake by 2.2% in the second quarter, owning 1.29 million shares valued at approximately $224.9 million. Institutional investors collectively hold 7.94% of the company.
• Analyst sentiment remains cautious: Southern Copper has a consensus rating of “Reduce” and an average price target of $146.84, despite individual target increases and mixed rating changes.
• Southern Copper exceeded quarterly earnings expectations with $1.99 in EPS, while revenue rose 40.6% year over year to $4.29 billion. The company also raised its quarterly dividend to $1.10, equivalent to a 2.1% annual yield.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Southern Copper Corporation (NYSE:SCCO - Free Report) by 2.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,290,648 shares of the basic materials company's stock after buying an additional 27,744 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.15% of Southern Copper worth $224,908,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. SHP Wealth Management purchased a new stake in Southern Copper during the 4th quarter valued at approximately $25,000. Bell Investment Advisors Inc acquired a new stake in shares of Southern Copper during the second quarter worth $26,000. Rakuten Securities Inc. acquired a new position in Southern Copper in the 2nd quarter valued at $28,000. Lloyd Advisory Services LLC. acquired a new stake in shares of Southern Copper in the 4th quarter worth $29,000. Finally, Virtus Advisers LLC acquired a new stake in shares of Southern Copper in the 4th quarter worth $29,000. Hedge funds and other institutional investors own 7.94% of the company's stock.

Insiders Place Their Bets

In related news, Director Bonilla Luis Miguel Palomino sold 202 shares of Southern Copper stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $196.79, for a total transaction of $39,751.28. Following the completion of the transaction, the director directly owned 1,723 shares of the company's stock, valued at approximately $339,066.65. The trade was a 10.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last ninety days, insiders sold 408 shares of company stock valued at $77,793. Company insiders own 0.07% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on SCCO shares. Wall Street Zen lowered shares of Southern Copper from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Citigroup restated a "positive" rating on shares of Southern Copper in a research report on Wednesday, July 15th. Scotiabank reaffirmed an "underperform" rating and issued a $138.34 price objective (up from $133.40) on shares of Southern Copper in a report on Monday, June 15th. UBS Group reiterated a "sell" rating and set a $158.10 target price (up from $143.28) on shares of Southern Copper in a research report on Tuesday, June 30th. Finally, Weiss Ratings raised Southern Copper from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, July 28th. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and seven have issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Reduce" and a consensus target price of $146.84.

Southern Copper Stock Performance

Shares of SCCO opened at $209.09 on Tuesday. The company has a quick ratio of 4.56, a current ratio of 5.06 and a debt-to-equity ratio of 0.63. Southern Copper Corporation has a 52-week low of $92.94 and a 52-week high of $223.88. The company has a 50-day simple moving average of $185.12 and a 200-day simple moving average of $183.86. The company has a market capitalization of $174.45 billion, a PE ratio of 30.57, a P/E/G ratio of 1.80 and a beta of 1.11.

Southern Copper (NYSE:SCCO - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The basic materials company reported $1.99 EPS for the quarter, topping analysts' consensus estimates of $1.93 by $0.06. Southern Copper had a net margin of 35.87% and a return on equity of 49.04%. The firm had revenue of $4.29 billion for the quarter, compared to the consensus estimate of $4.37 billion. The business's quarterly revenue was up 40.6% on a year-over-year basis. Equities research analysts predict that Southern Copper Corporation will post 7.61 earnings per share for the current fiscal year.

Southern Copper Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 27th. Investors of record on Tuesday, August 11th were issued a $1.10 dividend. The ex-dividend date was Tuesday, August 11th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.1%. This is an increase from Southern Copper's previous quarterly dividend of $1.00. Southern Copper's payout ratio is currently 64.33%.

Southern Copper Profile

Southern Copper Corporation NYSE: SCCO is a large, integrated copper producer whose operations span the full value chain from exploration and mining to smelting, refining and the sale of copper and other metal products. The company produces a range of copper products including copper concentrate and refined cathodes, and recovers valuable byproducts such as molybdenum, silver and zinc. Southern Copper concentrates on high-volume, long-life assets designed to support steady production and processing capabilities.

Southern Copper's operations are concentrated in Peru and Mexico, where it owns and operates multiple large-scale mining and processing facilities.

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