Southern Copper Co. (NYSE:SCCO) Stock Position Lifted by Occidental Asset Management LLC

Occidental Asset Management LLC grew its position in Southern Copper Co. (NYSE:SCCO) by 5.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 36,770 shares of the basic materials company’s stock after acquiring an additional 1,912 shares during the quarter. Occidental Asset Management LLC’s holdings in Southern Copper were worth $4,253,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in SCCO. Norden Group LLC acquired a new stake in Southern Copper during the first quarter worth about $1,820,000. Los Angeles Capital Management LLC lifted its holdings in shares of Southern Copper by 471.0% in the 1st quarter. Los Angeles Capital Management LLC now owns 31,655 shares of the basic materials company’s stock worth $3,372,000 after purchasing an additional 26,111 shares during the last quarter. Cetera Investment Advisers boosted its position in Southern Copper by 395.1% during the 1st quarter. Cetera Investment Advisers now owns 38,803 shares of the basic materials company’s stock valued at $4,133,000 after purchasing an additional 30,966 shares during the period. Goldman Sachs Group Inc. grew its stake in Southern Copper by 1.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,014,356 shares of the basic materials company’s stock worth $87,306,000 after buying an additional 18,883 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its position in Southern Copper by 21.7% in the first quarter. Advisors Asset Management Inc. now owns 90,237 shares of the basic materials company’s stock worth $9,612,000 after buying an additional 16,111 shares during the period. 7.94% of the stock is owned by institutional investors and hedge funds.

Southern Copper Stock Down 0.1 %

SCCO stock opened at $117.56 on Tuesday. The firm’s 50-day moving average is $105.38 and its two-hundred day moving average is $109.95. The company has a market capitalization of $91.83 billion, a price-to-earnings ratio of 39.06, a price-to-earnings-growth ratio of 1.22 and a beta of 1.18. Southern Copper Co. has a 52 week low of $68.93 and a 52 week high of $129.79. The company has a current ratio of 2.81, a quick ratio of 2.27 and a debt-to-equity ratio of 0.67.

Southern Copper (NYSE:SCCO) last released its earnings results on Friday, July 19th. The basic materials company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.09. Southern Copper had a return on equity of 34.98% and a net margin of 26.15%. The firm had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $2.96 billion. On average, analysts forecast that Southern Copper Co. will post 4.5 earnings per share for the current fiscal year.

Southern Copper Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date was Friday, August 9th. Southern Copper’s payout ratio is currently 79.73%.

Analysts Set New Price Targets

SCCO has been the subject of several analyst reports. UBS Group assumed coverage on shares of Southern Copper in a report on Friday, July 12th. They set a “neutral” rating and a $120.00 price target for the company. Citigroup boosted their target price on shares of Southern Copper from $99.44 to $100.00 and gave the company a “sell” rating in a research note on Wednesday, October 2nd. Finally, Morgan Stanley raised their price target on shares of Southern Copper from $97.00 to $100.00 and gave the company an “underweight” rating in a research note on Thursday, September 19th. Six investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $90.88.

Southern Copper Company Profile

Southern Copper Corporation engages in mining, exploring, smelting, and refining copper and other minerals in Peru, Mexico, Argentina, Ecuador, and Chile. 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, copper, molybdenum, silver, gold, and lead.