SG Americas Securities LLC acquired a new stake in shares of Southern Copper Corporation (NYSE:SCCO) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,867 shares of the basic materials company’s stock, valued at approximately $134,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bessemer Group Inc. raised its stake in shares of Southern Copper Corporation by 114.5% during the second quarter. Bessemer Group Inc. now owns 3,692 shares of the basic materials company’s stock valued at $128,000 after purchasing an additional 1,971 shares in the last quarter. FNY Partners Fund LP bought a new stake in shares of Southern Copper Corporation during the first quarter valued at about $145,000. Sit Investment Associates Inc. raised its stake in shares of Southern Copper Corporation by 68.8% during the second quarter. Sit Investment Associates Inc. now owns 5,400 shares of the basic materials company’s stock valued at $187,000 after purchasing an additional 2,200 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of Southern Copper Corporation during the first quarter valued at about $202,000. Finally, Investec Asset Management LTD bought a new stake in shares of Southern Copper Corporation during the first quarter valued at about $207,000. Institutional investors and hedge funds own 6.05% of the company’s stock.

A number of equities research analysts recently weighed in on SCCO shares. Cowen and Company restated a “hold” rating and set a $39.00 price objective on shares of Southern Copper Corporation in a research note on Wednesday, July 19th. BidaskClub upgraded shares of Southern Copper Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Barclays PLC lifted their price objective on shares of Southern Copper Corporation from $33.00 to $35.00 and gave the company an “underweight” rating in a research note on Wednesday, August 9th. HSBC Holdings plc cut shares of Southern Copper Corporation from a “buy” rating to a “hold” rating and set a $41.00 price objective on the stock. in a research note on Wednesday, August 16th. Finally, FBR & Co lowered their target price on Southern Copper Corporation from $43.00 to $42.00 and set an “outperform” rating on the stock in a report on Friday, June 16th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $36.29.

Southern Copper Corporation (NYSE:SCCO) opened at 39.11 on Monday. The firm has a market capitalization of $30.23 billion, a price-to-earnings ratio of 30.75 and a beta of 0.55. Southern Copper Corporation has a 12-month low of $25.46 and a 12-month high of $42.00. The company’s 50-day moving average price is $39.91 and its 200-day moving average price is $36.72.

In other news, Chairman German Larrea Mota Velasco sold 135,000 shares of the company’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $39.44, for a total transaction of $5,324,400.00. Following the transaction, the chairman now owns 3,737,967 shares of the company’s stock, valued at $147,425,418.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 900,670 shares of company stock worth $35,575,771 in the last ninety days. 0.53% of the stock is currently owned by insiders.

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Southern Copper Corporation 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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