State of Wisconsin Investment Board reduced its holdings in shares of Southern Copper Corporation (NYSE:SCCO) by 2.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 16,342 shares of the basic materials company’s stock after selling 380 shares during the period. State of Wisconsin Investment Board’s holdings in Southern Copper Corporation were worth $566,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Advisors Asset Management Inc. lifted its stake in shares of Southern Copper Corporation by 14.2% during the 2nd quarter. Advisors Asset Management Inc. now owns 11,589 shares of the basic materials company’s stock worth $401,000 after acquiring an additional 1,440 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Southern Copper Corporation by 5.7% during the 2nd quarter. Rhumbline Advisers now owns 129,640 shares of the basic materials company’s stock worth $4,489,000 after acquiring an additional 7,032 shares during the last quarter. Teacher Retirement System of Texas lifted its stake in shares of Southern Copper Corporation by 7.3% during the 2nd quarter. Teacher Retirement System of Texas now owns 79,071 shares of the basic materials company’s stock worth $2,738,000 after acquiring an additional 5,354 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of Southern Copper Corporation by 51.2% during the 2nd quarter. First Trust Advisors LP now owns 211,014 shares of the basic materials company’s stock worth $7,307,000 after acquiring an additional 71,416 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in shares of Southern Copper Corporation by 7.1% during the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 7,507 shares of the basic materials company’s stock worth $260,000 after acquiring an additional 500 shares during the last quarter. 6.05% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages recently issued reports on SCCO. Barclays PLC raised their price target on Southern Copper Corporation from $33.00 to $35.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 9th. HSBC Holdings plc lowered Southern Copper Corporation from a “buy” rating to a “hold” rating and set a $41.00 price target for the company. in a research note on Wednesday, August 16th. BidaskClub raised Southern Copper Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Cowen and Company reissued a “hold” rating and set a $39.00 price target on shares of Southern Copper Corporation in a research note on Wednesday, July 19th. Finally, FBR & Co decreased their price target on Southern Copper Corporation from $43.00 to $42.00 and set an “outperform” rating for the company in a research note on Friday, June 16th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $36.29.

Shares of Southern Copper Corporation (NYSE:SCCO) opened at 40.13 on Tuesday. The firm’s 50-day moving average price is $39.82 and its 200-day moving average price is $36.58. Southern Copper Corporation has a 12 month low of $24.99 and a 12 month high of $42.00. The company has a market capitalization of $31.02 billion, a price-to-earnings ratio of 31.55 and a beta of 0.55.

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 23rd. Stockholders of record on Wednesday, August 9th were given a dividend of $0.14 per share. This is a positive change from Southern Copper Corporation’s previous quarterly dividend of $0.12. This represents a $0.56 annualized dividend and a dividend yield of 1.40%. The ex-dividend date was Monday, August 7th. Southern Copper Corporation’s dividend payout ratio (DPR) is currently 43.75%.

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In other news, Chairman German Larrea Mota Velasco sold 504,800 shares of the firm’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $39.51, for a total transaction of $19,944,648.00. Following the completion of the transaction, the chairman now directly owns 2,972,297 shares in the company, valued at $117,435,454.47. The transaction was disclosed in a document filed with the SEC, which is available at this link. Over the last 90 days, insiders have sold 900,670 shares of company stock valued at $35,575,771. Company insiders own 0.53% of the company’s stock.

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.

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

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