Liberty Mutual Group Asset Management Inc. Invests $397,000 in Southern Copper Corp (SCCO)

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Liberty Mutual Group Asset Management Inc. purchased a new position in Southern Copper Corp (NYSE:SCCO) in the second quarter, Holdings Channel reports. The fund purchased 8,468 shares of the basic materials company’s stock, valued at approximately $397,000.

Several other large investors also recently modified their holdings of the stock. AGF Investments Inc. increased its stake in shares of Southern Copper by 1.0% in the second quarter. AGF Investments Inc. now owns 273,983 shares of the basic materials company’s stock worth $12,842,000 after buying an additional 2,842 shares during the last quarter. Commerzbank Aktiengesellschaft FI increased its stake in Southern Copper by 16.5% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 226,180 shares of the basic materials company’s stock valued at $10,601,000 after purchasing an additional 32,107 shares during the last quarter. Richard Bernstein Advisors LLC increased its stake in Southern Copper by 50.9% during the second quarter. Richard Bernstein Advisors LLC now owns 16,960 shares of the basic materials company’s stock valued at $795,000 after purchasing an additional 5,721 shares during the last quarter. Employees Retirement System of Texas increased its stake in Southern Copper by 158.6% during the second quarter. Employees Retirement System of Texas now owns 54,982 shares of the basic materials company’s stock valued at $2,577,000 after purchasing an additional 33,724 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its stake in Southern Copper by 6.8% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 18,758 shares of the basic materials company’s stock valued at $879,000 after purchasing an additional 1,196 shares during the last quarter. Institutional investors and hedge funds own 7.50% of the company’s stock.

SCCO has been the subject of several recent research reports. Berenberg Bank reiterated a “sell” rating and set a $39.00 target price on shares of Southern Copper in a research note on Saturday, June 2nd. JPMorgan Chase & Co. upgraded shares of Southern Copper to a “sell” rating and set a $45.00 target price for the company in a research note on Tuesday, June 5th. ValuEngine upgraded shares of Southern Copper from a “hold” rating to a “buy” rating in a research note on Wednesday, June 6th. Finally, Scotiabank set a $40.00 target price on shares of Southern Copper and gave the company a “sell” rating in a research note on Monday, August 6th. Four equities research 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 presently has an average rating of “Hold” and an average target price of $47.31.

SCCO stock opened at $42.35 on Wednesday. Southern Copper Corp has a 1-year low of $38.34 and a 1-year high of $58.09. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.15 and a current ratio of 3.15.

Southern Copper (NYSE:SCCO) last announced its quarterly earnings results on Wednesday, August 1st. The basic materials company reported $0.53 earnings per share (EPS) for the quarter, missing the 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%. research analysts expect that Southern Copper Corp will post 2.42 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 21st. Stockholders of record on Wednesday, August 8th were issued a dividend of $0.40 per share. This is an increase from Southern Copper’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Monday, August 6th. This represents a $1.60 annualized dividend and a dividend yield of 3.78%.

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.

Further Reading: Return on Investment (ROI) Defined, Explained

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

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