Empower Advisory Group LLC reduced its position in shares of Southern Copper Co. (NYSE:SCCO - Free Report) by 23.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 773,068 shares of the basic materials company's stock after selling 230,992 shares during the period. Empower Advisory Group LLC owned about 0.10% of Southern Copper worth $70,450,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Creative Planning increased its stake in Southern Copper by 4.4% in the third quarter. Creative Planning now owns 49,328 shares of the basic materials company's stock valued at $5,706,000 after purchasing an additional 2,092 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Southern Copper by 7.6% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 3,538 shares of the basic materials company's stock valued at $409,000 after buying an additional 250 shares in the last quarter. Blue Trust Inc. grew its position in shares of Southern Copper by 333.3% in the 3rd quarter. Blue Trust Inc. now owns 4,879 shares of the basic materials company's stock valued at $526,000 after buying an additional 3,753 shares during the last quarter. McClarren Financial Advisors Inc. raised its stake in Southern Copper by 169.2% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 288 shares of the basic materials company's stock worth $33,000 after acquiring an additional 181 shares in the last quarter. Finally, Godsey & Gibb Inc. lifted its position in Southern Copper by 62.7% in the third quarter. Godsey & Gibb Inc. now owns 524 shares of the basic materials company's stock valued at $61,000 after acquiring an additional 202 shares during the last quarter. Institutional investors and hedge funds own 7.94% of the company's stock.
Southern Copper Stock Performance
SCCO traded down $4.95 on Friday, hitting $92.87. 1,104,844 shares of the company traded hands, compared to its average volume of 1,183,960. The company has a 50 day moving average of $94.61 and a 200-day moving average of $101.88. Southern Copper Co. has a 12-month low of $78.82 and a 12-month high of $129.79. The stock has a market capitalization of $72.95 billion, a PE ratio of 21.50, a PEG ratio of 1.87 and a beta of 1.13. The company has a quick ratio of 2.31, a current ratio of 2.77 and a debt-to-equity ratio of 0.64.
Southern Copper (NYSE:SCCO - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The basic materials company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.02 by ($0.01). Southern Copper had a return on equity of 40.27% and a net margin of 29.53%. Sell-side analysts anticipate that Southern Copper Co. will post 4.66 earnings per share for the current year.
Southern Copper Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Tuesday, February 11th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.02%. This is a positive change from Southern Copper's previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Tuesday, February 11th. Southern Copper's payout ratio is 64.81%.
Wall Street Analysts Forecast Growth
SCCO has been the topic of several research reports. Morgan Stanley raised Southern Copper from an "underweight" rating to an "equal weight" rating and dropped their price objective for the stock from $106.30 to $102.00 in a report on Thursday, December 12th. JPMorgan Chase & Co. upgraded Southern Copper from an "underweight" rating to a "neutral" rating and set a $92.50 price target on the stock in a research note on Monday, December 2nd. Four research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $94.81.
Read Our Latest Report on Southern Copper
Southern Copper Company Profile
(
Free Report)
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.
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