UBS Asset Management Americas Inc. Increases Holdings in Southern Copper Corporation (NYSE:SCCO)

UBS Asset Management Americas Inc. increased its stake in Southern Copper Corporation (NYSE:SCCO) by 7.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 205,526 shares of the basic materials company’s stock after buying an additional 14,160 shares during the period. UBS Asset Management Americas Inc.’s holdings in Southern Copper Corporation were worth $7,117,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in SCCO. BlackRock Inc. boosted its holdings in shares of Southern Copper Corporation by 3,278.5% during the first quarter. BlackRock Inc. now owns 7,789,950 shares of the basic materials company’s stock valued at $279,583,000 after acquiring an additional 7,559,379 shares during the period. Manning & Napier Advisors LLC boosted its holdings in shares of Southern Copper Corporation by 10.5% during the second quarter. Manning & Napier Advisors LLC now owns 1,776,807 shares of the basic materials company’s stock valued at $61,529,000 after acquiring an additional 168,577 shares during the period. Prudential Financial Inc. boosted its holdings in shares of Southern Copper Corporation by 131.2% during the second quarter. Prudential Financial Inc. now owns 1,223,889 shares of the basic materials company’s stock valued at $42,384,000 after acquiring an additional 694,600 shares during the period. Commonwealth Bank of Australia boosted its holdings in shares of Southern Copper Corporation by 7.8% during the second quarter. Commonwealth Bank of Australia now owns 963,489 shares of the basic materials company’s stock valued at $33,364,000 after acquiring an additional 69,519 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of Southern Copper Corporation by 1.7% during the first quarter. Vanguard Group Inc. now owns 738,289 shares of the basic materials company’s stock valued at $26,497,000 after acquiring an additional 12,086 shares during the period. 6.05% of the stock is owned by hedge funds and other institutional investors.

Shares of Southern Copper Corporation (SCCO) opened at 43.16 on Monday. The firm’s 50-day moving average price is $40.47 and its 200 day moving average price is $37.31. The firm has a market cap of $33.36 billion, a P/E ratio of 33.93 and a beta of 0.53. Southern Copper Corporation has a 12-month low of $26.05 and a 12-month high of $43.36.

A number of brokerages recently weighed in on SCCO. BidaskClub cut shares of Southern Copper Corporation from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 23rd. 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. Barclays PLC boosted their price target on shares of Southern Copper Corporation from $33.00 to $35.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 9th. Finally, Cowen and Company reiterated a “hold” rating and issued a $39.00 price target on shares of Southern Copper Corporation in a research report on Wednesday, July 19th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $35.33.

In related news, Chairman German Larrea Mota Velasco sold 135,000 shares of the company’s stock in a transaction dated 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 sale, the chairman now owns 3,737,967 shares in the company, valued at approximately $147,425,418.48. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders have sold 900,670 shares of company stock worth $35,575,771. 0.53% of the stock is owned by corporate insiders.

TRADEMARK VIOLATION WARNING: This piece of content was first posted by BBNS and is owned by of BBNS. If you are accessing this piece of content on another site, it was illegally copied and reposted in violation of U.S. and international trademark and copyright legislation. The correct version of this piece of content can be accessed at https://baseballnewssource.com/markets/ubs-asset-management-americas-inc-increases-holdings-in-southern-copper-corporation-scco/1694196.html.

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.

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

Receive News & Ratings for Southern Copper Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southern Copper Corporation and related companies with our FREE daily email newsletter.

 


Latest News

Houston’s Dallas Keuchel Could Make Relief Appearance in Game 7
Houston’s Dallas Keuchel Could Make Relief Appearance in Game 7
Houston Astros Relying on Justin Verlander to Save Their Season
Houston Astros Relying on Justin Verlander to Save Their Season
Clayton Kershaw Gets Chance to Pitch LA into Fall Classic
Clayton Kershaw Gets Chance to Pitch LA into Fall Classic
Aaron Judge and Gary Sanchez Have Break Out Games
Aaron Judge and Gary Sanchez Have Break Out Games
Justin Turner Joining Postseason Legends
Justin Turner Joining Postseason Legends
PED Use Cost Alex Rodriguez Millions and His Reputation
PED Use Cost Alex Rodriguez Millions and His Reputation


Leave a Reply

 
© 2006-2017 BBNS.