UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Has $114.53 Million Holdings in Southern Copper Corporation $SCCO

Key Points

• UBS AM reduced its stake in Southern Copper Corporation by 4.3%, now holding approximately $114.53 million worth of shares after selling 54,879 shares.
• Southern Copper has increased its quarterly dividend to $1.01 per share, up from the previous dividend of $0.62, reflecting an annualized yield of 3.8%.
• Recent analyst ratings for Southern Copper include upgrades and downgrades, with Morgan Stanley maintaining an "underweight" rating while raising its price target to $99.00.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lowered its stake in Southern Copper Corporation (NYSE:SCCO - Free Report) by 4.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,225,407 shares of the basic materials company's stock after selling 54,879 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 0.15% of Southern Copper worth $114,527,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Zurich Insurance Group Ltd FI lifted its position in shares of Southern Copper by 0.7% in the first quarter. Zurich Insurance Group Ltd FI now owns 17,331 shares of the basic materials company's stock worth $1,620,000 after buying an additional 125 shares during the last quarter. Empowered Funds LLC lifted its position in shares of Southern Copper by 17.9% in the first quarter. Empowered Funds LLC now owns 6,705 shares of the basic materials company's stock worth $627,000 after buying an additional 1,020 shares during the last quarter. Axiom Investors LLC DE lifted its position in shares of Southern Copper by 7.6% in the first quarter. Axiom Investors LLC DE now owns 172,633 shares of the basic materials company's stock worth $16,134,000 after buying an additional 12,237 shares during the last quarter. Arete Wealth Advisors LLC acquired a new position in shares of Southern Copper during the 1st quarter worth about $277,000. Finally, Fred Alger Management LLC lifted its position in shares of Southern Copper by 4.8% during the 1st quarter. Fred Alger Management LLC now owns 44,531 shares of the basic materials company's stock worth $4,162,000 after purchasing an additional 2,020 shares during the last quarter. Institutional investors and hedge funds own 7.94% of the company's stock.

Insider Transactions at Southern Copper

In related news, Director Bonilla Luis Miguel Palomino sold 414 shares of the business's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $100.00, for a total transaction of $41,400.00. Following the transaction, the director directly owned 2,327 shares in the company, valued at $232,700. The trade was a 15.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold 1,228 shares of company stock worth $123,102 in the last 90 days. Insiders own 0.07% of the company's stock.

Southern Copper Trading Up 1.1%

Shares of SCCO opened at $106.22 on Friday. Southern Copper Corporation has a 12-month low of $74.84 and a 12-month high of $121.44. The company has a quick ratio of 4.51, a current ratio of 5.27 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $85.41 billion, a price-to-earnings ratio of 23.24, a P/E/G ratio of 1.55 and a beta of 0.99. The stock's 50-day moving average price is $98.12 and its 200 day moving average price is $94.43.

Southern Copper Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Friday, August 15th were paid a dividend of $1.01 per share. This is a positive change from Southern Copper's previous quarterly dividend of $0.62. This represents a $4.04 annualized dividend and a yield of 3.8%. The ex-dividend date was Friday, August 15th. Southern Copper's dividend payout ratio is presently 70.02%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SCCO. Morgan Stanley reissued an "underweight" rating and set a $99.00 price objective (up previously from $86.00) on shares of Southern Copper in a research report on Tuesday, July 15th. Itau BBA Securities raised Southern Copper from an "underperform" rating to a "market perform" rating in a research report on Wednesday, June 11th. Wall Street Zen cut Southern Copper from a "buy" rating to a "hold" rating in a research report on Tuesday, May 20th. UBS Group cut Southern Copper from a "buy" rating to a "neutral" rating and set a $105.00 price objective for the company. in a research report on Tuesday, July 1st. Finally, JPMorgan Chase & Co. boosted their price objective on Southern Copper from $79.00 to $92.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 3rd. Four analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and a consensus price target of $93.60.

About Southern Copper

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

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