Southern Copper Corporation (SCCO) Position Held by CIBC Asset Management Inc

CIBC Asset Management Inc continued to hold its stake in shares of Southern Copper Corporation (NYSE:SCCO) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,224 shares of the basic materials company’s stock at the end of the second quarter. CIBC Asset Management Inc’s holdings in Southern Copper Corporation were worth $1,081,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. Hansberger Growth Investors LP raised its stake in shares of Southern Copper Corporation by 0.6% in the first quarter. Hansberger Growth Investors LP now owns 53,140 shares of the basic materials company’s stock valued at $1,907,000 after buying an additional 300 shares during the period. Capstone Asset Management Co. raised its stake in shares of Southern Copper Corporation by 1.9% in the first quarter. Capstone Asset Management Co. now owns 18,423 shares of the basic materials company’s stock valued at $661,000 after buying an additional 340 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Southern Copper Corporation by 3.8% in the first quarter. PNC Financial Services Group Inc. now owns 9,827 shares of the basic materials company’s stock valued at $353,000 after buying an additional 359 shares during the period. Sit Investment Associates Inc. raised its stake in shares of Southern Copper Corporation by 14.3% in the first quarter. Sit Investment Associates Inc. now owns 3,200 shares of the basic materials company’s stock valued at $115,000 after buying an additional 400 shares during the period. Finally, M&T Bank Corp raised its stake in shares of Southern Copper Corporation by 1.4% in the first quarter. M&T Bank Corp now owns 29,912 shares of the basic materials company’s stock valued at $1,073,000 after buying an additional 400 shares during the period. 6.32% of the stock is owned by hedge funds and other institutional investors.

Shares of Southern Copper Corporation (SCCO) opened at 38.38 on Friday. The company has a market cap of $29.67 billion, a price-to-earnings ratio of 30.17 and a beta of 0.55. The stock has a 50 day moving average price of $37.32 and a 200-day moving average price of $36.31. Southern Copper Corporation has a 1-year low of $24.90 and a 1-year high of $39.94.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 23rd. Investors of record on Wednesday, August 9th will be issued a $0.14 dividend. This is an increase from Southern Copper Corporation’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Monday, August 7th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.46%. Southern Copper Corporation’s dividend payout ratio (DPR) is presently 43.75%.

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Several brokerages have issued reports on SCCO. Cowen and Company reaffirmed a “hold” rating and set a $39.00 price target on shares of Southern Copper Corporation in a research note on Wednesday, July 19th. Barclays PLC lifted 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. BidaskClub raised Southern Copper Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Finally, FBR & Co dropped 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 and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $33.78.

In related news, Chairman German Larrea Mota Velasco sold 135,000 shares of the stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $39.44, for a total value of $5,324,400.00. Following the completion of the transaction, the chairman now owns 3,737,967 shares of the company’s stock, valued at approximately $147,425,418.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders sold 900,670 shares of company stock valued at $35,575,771. 0.53% of the stock is owned by insiders.

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.

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

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