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

Occidental Asset Management LLC raised its position in Southern Copper Co. (NYSE:SCCO) by 12.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,385 shares of the basic materials company’s stock after purchasing an additional 3,785 shares during the quarter. Occidental Asset Management LLC’s holdings in Southern Copper were worth $3,556,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of SCCO. Wahed Invest LLC raised its holdings in Southern Copper by 9.0% during the fourth quarter. Wahed Invest LLC now owns 1,451 shares of the basic materials company’s stock valued at $125,000 after buying an additional 120 shares in the last quarter. Janiczek Wealth Management LLC raised its stake in shares of Southern Copper by 11.5% in the 4th quarter. Janiczek Wealth Management LLC now owns 1,227 shares of the basic materials company’s stock valued at $106,000 after acquiring an additional 127 shares in the last quarter. CWM LLC lifted its holdings in Southern Copper by 3.3% in the 4th quarter. CWM LLC now owns 4,329 shares of the basic materials company’s stock worth $373,000 after purchasing an additional 137 shares during the last quarter. First National Trust Co boosted its position in Southern Copper by 0.4% during the fourth quarter. First National Trust Co now owns 37,134 shares of the basic materials company’s stock worth $3,196,000 after purchasing an additional 150 shares during the period. Finally, Fortis Group Advisors LLC raised its position in shares of Southern Copper by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 302 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 151 shares during the period. 7.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. StockNews.com upgraded shares of Southern Copper from a “hold” rating to a “buy” rating in a report on Wednesday, May 15th. Morgan Stanley boosted their price objective on Southern Copper from $81.70 to $100.00 and gave the stock an “underweight” rating in a research report on Friday, June 21st. Jefferies Financial Group raised Southern Copper from a “hold” rating to a “buy” rating and lifted their price target for the stock from $91.00 to $130.00 in a research report on Friday, March 22nd. The Goldman Sachs Group increased their price objective on Southern Copper from $61.00 to $82.00 and gave the company a “sell” rating in a research report on Friday, March 22nd. Finally, Scotiabank lowered their price objective on shares of Southern Copper from $55.00 to $54.00 and set a “sector underperform” rating on the stock in a research note on Tuesday, May 21st. Five investment analysts have rated the stock with a sell rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $84.50.

Insider Transactions at Southern Copper

In other Southern Copper news, Director PALOMINO BONILLA LUIS MIGUEL sold 3,600 shares of Southern Copper stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $118.30, for a total value of $425,880.00. Following the completion of the transaction, the director now owns 2,214 shares in the company, valued at approximately $261,916.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Bonilla Luis Miguel Palomino sold 300 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $118.50, for a total transaction of $35,550.00. Following the sale, the director now directly owns 4,614 shares of the company’s stock, valued at $546,759. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director PALOMINO BONILLA LUIS MIGUEL sold 3,600 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $118.30, for a total transaction of $425,880.00. Following the completion of the transaction, the director now owns 2,214 shares of the company’s stock, valued at approximately $261,916.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,100 shares of company stock valued at $483,450. Corporate insiders own 0.08% of the company’s stock.

Southern Copper Price Performance

NYSE:SCCO traded up $0.01 during mid-day trading on Friday, hitting $107.74. The company’s stock had a trading volume of 916,905 shares, compared to its average volume of 1,232,584. The company has a market capitalization of $84.16 billion, a price-to-earnings ratio of 35.82, a P/E/G ratio of 1.06 and a beta of 1.23. The company has a current ratio of 3.31, a quick ratio of 2.56 and a debt-to-equity ratio of 0.82. Southern Copper Co. has a fifty-two week low of $67.64 and a fifty-two week high of $129.79. The stock has a fifty day moving average of $114.42 and a 200-day moving average of $98.67.

Southern Copper (NYSE:SCCO) last announced its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.77 by $0.17. Southern Copper had a return on equity of 30.44% and a net margin of 24.20%. The business had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.50 billion. As a group, equities analysts forecast that Southern Copper Co. will post 4.45 EPS for the current fiscal year.

Southern Copper Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Wednesday, May 8th were paid a dividend of $0.01 per share. The ex-dividend date was Tuesday, May 7th. This represents a $0.04 annualized dividend and a yield of 0.04%. Southern Copper’s dividend payout ratio is 1.33%.

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.