Southern Copper Corporation $SCCO Stock Holdings Increased by Empowered Funds LLC

Empowered Funds LLC boosted its holdings in shares of Southern Copper Corporation (NYSE:SCCO) by 896.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 50,421 shares of the basic materials company’s stock after purchasing an additional 45,359 shares during the period. Empowered Funds LLC’s holdings in Southern Copper were worth $8,676,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. SHP Wealth Management acquired a new position in Southern Copper in the fourth quarter worth approximately $25,000. Lloyd Advisory Services LLC. acquired a new stake in shares of Southern Copper during the 4th quarter valued at $29,000. Virtus Advisers LLC acquired a new stake in shares of Southern Copper during the 4th quarter valued at $29,000. Godfrey Financial Associates Inc. bought a new stake in shares of Southern Copper during the 4th quarter worth $30,000. Finally, IFP Advisors Inc boosted its stake in shares of Southern Copper by 233.3% during the 4th quarter. IFP Advisors Inc now owns 230 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 161 shares in the last quarter. 7.94% of the stock is currently owned by institutional investors.

Southern Copper Trading Up 5.4%

NYSE:SCCO opened at $184.95 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.38 and a quick ratio of 3.89. Southern Copper Corporation has a fifty-two week low of $89.87 and a fifty-two week high of $223.88. The stock’s 50-day moving average is $181.24 and its two-hundred day moving average is $184.13. The stock has a market cap of $152.78 billion, a PE ratio of 27.04, a price-to-earnings-growth ratio of 1.51 and a beta of 1.11.

Southern Copper shares are set to split before the market opens on Tuesday, August 11th. The 1.012-1 split was recently announced. The newly minted shares will be payable to shareholders after the closing bell on Monday, August 10th.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings results on Wednesday, July 22nd. The basic materials company reported $2.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $0.06. The business had revenue of $4.29 billion during the quarter, compared to analyst estimates of $4.37 billion. Southern Copper had a net margin of 35.87% and a return on equity of 50.74%. Southern Copper’s revenue for the quarter was up 40.6% compared to the same quarter last year. As a group, equities research analysts forecast that Southern Copper Corporation will post 7.63 earnings per share for the current fiscal year.

Southern Copper Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Tuesday, August 11th will be paid a $1.10 dividend. The ex-dividend date is Tuesday, August 11th. This represents a $4.40 annualized dividend and a yield of 2.4%. This is a boost from Southern Copper’s previous quarterly dividend of $1.00. Southern Copper’s dividend payout ratio (DPR) is currently 64.33%.

Insiders Place Their Bets

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 200 shares of the stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $177.82, for a total value of $35,564.00. Following the completion of the sale, the director owned 1,807 shares in the company, valued at $321,320.74. This represents a 9.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders have sold 504 shares of company stock valued at $92,008. 0.07% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

SCCO has been the topic of a number of recent research reports. Citigroup restated a “positive” rating on shares of Southern Copper in a report on Wednesday, July 15th. Wells Fargo & Company upped their target price on Southern Copper from $171.00 to $172.00 and gave the company an “equal weight” rating in a report on Thursday, July 9th. Weiss Ratings upgraded Southern Copper from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday. JPMorgan Chase & Co. lifted their price target on Southern Copper from $127.00 to $131.50 and gave the stock an “underweight” rating in a research note on Wednesday, June 17th. Finally, Wall Street Zen raised Southern Copper from a “hold” rating to a “buy” rating in a research note on Saturday, June 27th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have given a Hold rating and seven have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $148.60.

About Southern Copper

Southern Copper Corporation (NYSE: SCCO) is a large, integrated copper producer whose operations span the full value chain from exploration and mining to smelting, refining and the sale of copper and other metal products. The company produces a range of copper products including copper concentrate and refined cathodes, and recovers valuable byproducts such as molybdenum, silver and zinc. Southern Copper concentrates on high-volume, long-life assets designed to support steady production and processing capabilities.

Southern Copper’s operations are concentrated in Peru and Mexico, where it owns and operates multiple large-scale mining and processing facilities.