Zurich Insurance Group Ltd FI purchased a new stake in Southern Copper Corp (NYSE:SCCO) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 40,873 shares of the basic materials company’s stock, valued at approximately $1,916,000.

Other hedge funds also recently bought and sold shares of the company. Principal Financial Group Inc. grew its position in shares of Southern Copper by 3.2% in the first quarter. Principal Financial Group Inc. now owns 128,496 shares of the basic materials company’s stock valued at $6,962,000 after purchasing an additional 3,967 shares in the last quarter. Altman Advisors Inc. purchased a new stake in shares of Southern Copper in the second quarter valued at approximately $204,000. Strs Ohio grew its position in shares of Southern Copper by 39.3% in the second quarter. Strs Ohio now owns 167,188 shares of the basic materials company’s stock valued at $7,836,000 after purchasing an additional 47,188 shares in the last quarter. Madison Investment Holdings Inc. purchased a new stake in shares of Southern Copper in the second quarter valued at approximately $3,996,000. Finally, Russell Investments Group Ltd. grew its position in shares of Southern Copper by 434.6% in the second quarter. Russell Investments Group Ltd. now owns 458,248 shares of the basic materials company’s stock valued at $21,091,000 after purchasing an additional 372,532 shares in the last quarter. Institutional investors and hedge funds own 7.50% of the company’s stock.

SCCO has been the subject of a number of analyst reports. ValuEngine upgraded Southern Copper from a “hold” rating to a “buy” rating in a research report on Wednesday, June 6th. Scotiabank set a $40.00 price target on Southern Copper and gave the company a “sell” rating in a research report on Monday, August 6th. JPMorgan Chase & Co. upgraded Southern Copper to a “sell” rating and set a $45.00 price target for the company in a research report on Tuesday, June 5th. Finally, Berenberg Bank restated a “sell” rating and issued a $39.00 price target on shares of Southern Copper in a research report on Saturday, June 2nd. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $47.31.

Southern Copper stock traded up $0.16 during mid-day trading on Wednesday, hitting $41.97. The company’s stock had a trading volume of 2,759 shares, compared to its average volume of 1,009,437. Southern Copper Corp has a 1 year low of $38.34 and a 1 year high of $58.09. The company has a current ratio of 3.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.91.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings data on Wednesday, August 1st. The basic materials company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.11). Southern Copper had a return on equity of 15.50% and a net margin of 13.78%. research analysts predict that Southern Copper Corp will post 2.42 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 21st. Investors of record on Wednesday, August 8th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.81%. This is a positive change from Southern Copper’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Monday, August 6th.

Southern Copper Company Profile

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

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

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