Oxford Financial Group LTD. LLC Takes Position in Southern Copper Corporation $SCCO

Oxford Financial Group LTD. LLC bought a new position in Southern Copper Corporation (NYSE:SCCO) in the 2nd quarter, Holdings Channel reports. The firm bought 4,992 shares of the basic materials company’s stock, valued at approximately $870,000.

A number of other large investors have also recently made changes to their positions in SCCO. Bell Investment Advisors Inc bought a new position in Southern Copper during the 2nd quarter valued at about $26,000. SHP Wealth Management bought a new stake in Southern Copper in the fourth quarter worth about $25,000. Lloyd Advisory Services LLC. bought a new stake in Southern Copper in the fourth quarter worth about $29,000. Virtus Advisers LLC purchased a new position in shares of Southern Copper during the fourth quarter valued at approximately $29,000. Finally, Godfrey Financial Associates Inc. purchased a new position in shares of Southern Copper during the fourth quarter valued at approximately $30,000. 7.94% of the stock is owned by hedge funds and other institutional investors.

Southern Copper Stock Up 2.5%

Shares of NYSE SCCO opened at $199.45 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 4.56 and a current ratio of 5.06. The firm has a market capitalization of $166.41 billion, a price-to-earnings ratio of 29.16, a PEG ratio of 1.67 and a beta of 1.11. The stock has a 50 day moving average price of $181.66 and a 200 day moving average price of $182.97. Southern Copper Corporation has a 52-week low of $92.57 and a 52-week high of $223.88.

Southern Copper (NYSE:SCCO) last released its quarterly earnings data on Wednesday, July 22nd. The basic materials company reported $1.99 EPS for the quarter, topping the consensus estimate of $1.93 by $0.06. The company had revenue of $4.29 billion for the quarter, compared to the consensus estimate of $4.37 billion. Southern Copper had a return on equity of 49.04% and a net margin of 35.87%.The firm’s revenue was up 40.6% compared to the same quarter last year. Sell-side analysts expect that Southern Copper Corporation will post 7.61 earnings per share for the current year.

Southern Copper Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Tuesday, August 11th will be issued a dividend of $1.10 per share. The ex-dividend date of this dividend is Tuesday, August 11th. This is a positive change from Southern Copper’s previous quarterly dividend of $1.00. This represents a $4.40 annualized dividend and a yield of 2.2%. Southern Copper’s dividend payout ratio is 64.33%.

Insider Activity

In other news, Director Bonilla Luis Miguel Palomino sold 202 shares of the business’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $196.79, for a total value of $39,751.28. Following the completion of the transaction, the director directly owned 1,723 shares of the company’s stock, valued at approximately $339,066.65. The trade was a 10.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last quarter, insiders sold 509 shares of company stock valued at $97,753. Company insiders own 0.07% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on SCCO shares. JPMorgan Chase & Co. upped their target price on Southern Copper from $125.49 to $129.94 and gave the company an “underweight” rating in a research note on Wednesday, June 17th. Zacks Research lowered Southern Copper from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 7th. Weiss Ratings upgraded Southern Copper from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, July 28th. Barclays set a $164.03 price objective on Southern Copper and gave the company an “underweight” rating in a research report on Thursday, July 23rd. Finally, CICC Research lowered Southern Copper to a “market perform” rating in a research note on Sunday, July 26th. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and seven have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Southern Copper has a consensus rating of “Reduce” and a consensus price target of $146.84.

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.