Empirical Asset Management LLC Buys 306 Shares of Southern Copper Co. (NYSE:SCCO)

by · The Cerbat Gem

Empirical Asset Management LLC raised its stake in Southern Copper Co. (NYSE:SCCO – Free Report) by 12.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,859 shares of the basic materials company’s stock after acquiring an additional 306 shares during the period. Empirical Asset Management LLC’s holdings in Southern Copper were worth $331,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Fidelis Capital Partners LLC purchased a new position in shares of Southern Copper in the first quarter valued at $26,000. Riverview Trust Co purchased a new position in shares of Southern Copper in the 1st quarter worth $27,000. Itau Unibanco Holding S.A. bought a new stake in shares of Southern Copper in the 2nd quarter worth about $31,000. Hanseatic Management Services Inc. purchased a new stake in shares of Southern Copper during the 2nd quarter valued at about $53,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Southern Copper by 53.0% in the 3rd quarter. GAMMA Investing LLC now owns 517 shares of the basic materials company’s stock valued at $60,000 after acquiring an additional 179 shares during the last quarter. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Southern Copper Stock Down 0.1 %

NYSE:SCCO opened at $117.56 on Tuesday. The company has a market cap 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 twelve month low of $68.93 and a twelve month 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. The stock has a fifty day simple moving average of $105.38 and a 200-day simple moving average of $109.95.

Southern Copper (NYSE:SCCO – Get Free Report) last announced its quarterly earnings data on Friday, July 19th. The basic materials company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.09. The company had revenue of $3.12 billion during the quarter, compared to analyst estimates of $2.96 billion. Southern Copper had a net margin of 26.15% and a return on equity of 34.98%. Analysts anticipate that Southern Copper Co. will post 4.5 EPS for the current year.

Southern Copper Dividend Announcement

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

Wall Street Analysts Forecast Growth

SCCO has been the topic of a number of recent research reports. UBS Group assumed coverage on Southern Copper in a research report on Friday, July 12th. They set a “neutral” rating and a $120.00 price objective on the stock. Citigroup increased their price target on Southern Copper from $99.44 to $100.00 and gave the company a “sell” rating in a report on Wednesday, October 2nd. Finally, Morgan Stanley lifted their price objective on shares of Southern Copper from $97.00 to $100.00 and gave the stock an “underweight” rating in a research note on Thursday, September 19th. Six equities research 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, Southern Copper presently has a consensus rating of “Hold” and a consensus price target of $90.88.

Read Our Latest Report on SCCO

About Southern Copper

(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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