Teacher Retirement System of Texas boosted its stake in Southern Copper Corporation (NYSE:SCCO) by 7.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,071 shares of the basic materials company’s stock after buying an additional 5,354 shares during the period. Teacher Retirement System of Texas’ holdings in Southern Copper Corporation were worth $2,738,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of SCCO. First Trust Advisors LP raised its position in shares of Southern Copper Corporation by 51.2% in the second quarter. First Trust Advisors LP now owns 211,014 shares of the basic materials company’s stock worth $7,307,000 after buying an additional 71,416 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of Southern Copper Corporation by 7.1% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 7,507 shares of the basic materials company’s stock worth $260,000 after buying an additional 500 shares in the last quarter. Blue Sky Asset Management LLC bought a new position in shares of Southern Copper Corporation during the second quarter worth $1,117,000. Pictet Asset Management Ltd. raised its position in shares of Southern Copper Corporation by 1.9% in the second quarter. Pictet Asset Management Ltd. now owns 141,171 shares of the basic materials company’s stock worth $4,935,000 after buying an additional 2,600 shares in the last quarter. Finally, TD Asset Management Inc. bought a new position in shares of Southern Copper Corporation during the second quarter worth $1,794,000. 6.34% of the stock is currently owned by institutional investors and hedge funds.

Shares of Southern Copper Corporation (SCCO) opened at 39.02 on Friday. The stock’s 50 day moving average is $37.83 and its 200-day moving average is $36.33. Southern Copper Corporation has a one year low of $24.90 and a one year high of $40.23. The firm has a market cap of $30.16 billion, a P/E ratio of 30.68 and a beta of 0.55.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 23rd. Stockholders of record on Wednesday, August 9th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date is Monday, August 7th. This is a positive change from Southern Copper Corporation’s previous quarterly dividend of $0.12. Southern Copper Corporation’s payout ratio is currently 43.75%.

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A number of brokerages recently weighed in on SCCO. FBR & Co decreased their price target on shares of Southern Copper Corporation from $43.00 to $42.00 and set an “outperform” rating on the stock in a research note on Friday, June 16th. HSBC Holdings plc downgraded shares of Southern Copper Corporation from a “buy” rating to a “hold” rating and set a $41.00 price objective for the company. in a report on Wednesday. Barclays PLC increased their price objective on shares of Southern Copper Corporation from $33.00 to $35.00 and gave the company an “underweight” rating in a report on Wednesday, August 9th. BidaskClub upgraded shares of Southern Copper Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Finally, Cowen and Company reiterated a “hold” rating and issued a $39.00 price objective on shares of Southern Copper Corporation in a report on Wednesday, July 19th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. Southern Copper Corporation has a consensus rating of “Hold” and an average price target of $34.97.

In other news, Chairman German Larrea Mota Velasco sold 25,070 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $39.50, for a total value of $990,265.00. Following the completion of the transaction, the chairman now owns 3,477,097 shares of the company’s stock, valued at $137,345,331.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In the last three months, insiders sold 900,670 shares of company stock valued at $35,575,771. Company insiders own 0.53% of the company’s stock.

About Southern Copper Corporation

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.

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

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