Twin Tree Management LP Has $396,000 Position in Southern Copper Corp (SCCO)

Share on StockTwits

Twin Tree Management LP trimmed its position in Southern Copper Corp (NYSE:SCCO) by 51.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,454 shares of the basic materials company’s stock after selling 9,081 shares during the quarter. Twin Tree Management LP’s holdings in Southern Copper were worth $396,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of SCCO. Acadian Asset Management LLC increased its position in Southern Copper by 19.0% during the 2nd quarter. Acadian Asset Management LLC now owns 3,509,549 shares of the basic materials company’s stock valued at $164,493,000 after purchasing an additional 560,632 shares during the period. Amundi Pioneer Asset Management Inc. increased its position in Southern Copper by 2.5% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 2,683,330 shares of the basic materials company’s stock valued at $145,383,000 after purchasing an additional 64,364 shares during the period. Fisher Asset Management LLC increased its position in Southern Copper by 27,321.9% during the 2nd quarter. Fisher Asset Management LLC now owns 1,095,229 shares of the basic materials company’s stock valued at $51,333,000 after purchasing an additional 1,091,235 shares during the period. Oakmont Corp increased its position in Southern Copper by 259.7% during the 2nd quarter. Oakmont Corp now owns 798,450 shares of the basic materials company’s stock valued at $37,423,000 after purchasing an additional 576,450 shares during the period. Finally, Cypress Funds LLC increased its position in Southern Copper by 129.4% during the 2nd quarter. Cypress Funds LLC now owns 757,000 shares of the basic materials company’s stock valued at $35,481,000 after purchasing an additional 427,000 shares during the period. 7.76% of the stock is currently owned by institutional investors.

Shares of SCCO stock opened at $43.63 on Friday. Southern Copper Corp has a 12 month low of $38.34 and a 12 month high of $58.09. The company has a quick ratio of 2.15, a current ratio of 3.15 and a debt-to-equity ratio of 0.91.

Southern Copper (NYSE:SCCO) last announced its earnings results on Wednesday, August 1st. The basic materials company reported $0.53 EPS for the quarter, missing the Zacks’ consensus estimate of $0.64 by ($0.11). Southern Copper had a net margin of 13.78% and a return on equity of 15.50%. analysts expect that Southern Copper Corp will post 2.44 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 21st. Investors of record on Wednesday, August 8th will be paid a $0.40 dividend. This is a boost from Southern Copper’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Monday, August 6th. This represents a $1.60 dividend on an annualized basis and a yield of 3.67%.

A number of research analysts have issued reports on SCCO shares. JPMorgan Chase & Co. raised shares of Southern Copper to a “sell” rating and set a $45.00 price objective on the stock in a research report on Tuesday, June 5th. Berenberg Bank reissued a “sell” rating and set a $39.00 price objective on shares of Southern Copper in a research report on Saturday, June 2nd. ValuEngine raised shares of Southern Copper from a “hold” rating to a “buy” rating in a research report on Wednesday, June 6th. Finally, Scotiabank set a $40.00 price objective on shares of Southern Copper and gave the company a “sell” rating in a research report on Monday, August 6th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $47.31.

In related news, EVP Quintanilla Daniel Muniz sold 1,600 shares of the company’s stock in a transaction dated Tuesday, June 5th. The shares were sold at an average price of $51.20, for a total value of $81,920.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.46% of the company’s stock.

Southern Copper 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.

Read More: Google Finance

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

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

Leave a Reply