Yousif Capital Management LLC Reduces Stock Position in Southern Copper Corporation $SCCO

Key Points

• Yousif Capital Management LLC significantly reduced its stake in Southern Copper Corporation by 78.8% during the second quarter, now holding 3,074 shares worth approximately $311,000.
• Multiple hedge funds made moves regarding Southern Copper, with Jacobs Levy Equity Management purchasing a new stake valued at $40.3 million in the first quarter.
• Equities research analysts have mixed ratings for Southern Copper, with targets ranging from $89.00 (sell) by Goldman Sachs to $155.00 (buy) set by Jefferies Financial Group.

Yousif Capital Management LLC decreased its position in Southern Copper Corporation (NYSE:SCCO - Free Report) by 78.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,074 shares of the basic materials company's stock after selling 11,409 shares during the quarter. Yousif Capital Management LLC's holdings in Southern Copper were worth $311,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of SCCO. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Southern Copper during the first quarter worth about $40,338,000. Nuveen LLC acquired a new stake in Southern Copper during the first quarter worth approximately $34,086,000. JPMorgan Chase & Co. grew its stake in Southern Copper by 26.3% in the 1st quarter. JPMorgan Chase & Co. now owns 1,551,878 shares of the basic materials company's stock worth $145,039,000 after acquiring an additional 322,935 shares during the period. Jennison Associates LLC purchased a new stake in Southern Copper in the 1st quarter worth approximately $25,739,000. Finally, Strs Ohio acquired a new position in Southern Copper in the 1st quarter valued at $15,382,000. 7.94% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Bonilla Luis Miguel Palomino sold 414 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $100.00, for a total value of $41,400.00. Following the transaction, the director owned 2,327 shares in the company, valued at approximately $232,700. This trade represents a 15.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 1,228 shares of company stock valued at $123,102 in the last 90 days. Company insiders own 0.07% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. HSBC restated a "hold" rating and set a $118.00 price objective (up previously from $105.00) on shares of Southern Copper in a report on Friday, October 17th. Jefferies Financial Group set a $155.00 target price on Southern Copper and gave the stock a "buy" rating in a research report on Monday, October 6th. Morgan Stanley set a $132.00 price target on Southern Copper and gave the company an "equal weight" rating in a report on Wednesday, October 8th. The Goldman Sachs Group set a $89.00 target price on shares of Southern Copper and gave the stock a "sell" rating in a research report on Wednesday, September 17th. Finally, UBS Group restated a "buy" rating on shares of Southern Copper in a report on Friday, September 19th. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, Southern Copper has a consensus rating of "Reduce" and a consensus price target of $110.78.

Southern Copper Stock Performance

Shares of NYSE:SCCO opened at $128.29 on Friday. The business has a 50-day moving average of $112.60 and a two-hundred day moving average of $100.47. The firm has a market capitalization of $103.15 billion, a PE ratio of 28.07, a P/E/G ratio of 1.22 and a beta of 1.02. The company has a debt-to-equity ratio of 0.67, a current ratio of 5.27 and a quick ratio of 4.51. Southern Copper Corporation has a 12 month low of $74.84 and a 12 month high of $136.49.

Southern Copper Profile

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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