28,975 Shares in Southern Copper Corporation $SCCO Acquired by Empirical Asset Management LLC

Empirical Asset Management LLC purchased a new stake in Southern Copper Corporation (NYSE:SCCO) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 28,975 shares of the basic materials company’s stock, valued at approximately $3,516,000.

Several other large investors also recently modified their holdings of SCCO. MJT & Associates Financial Advisory Group Inc. lifted its position in shares of Southern Copper by 65.1% during the 3rd quarter. MJT & Associates Financial Advisory Group Inc. now owns 213 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 84 shares during the period. Covestor Ltd grew its holdings in Southern Copper by 30.4% in the third quarter. Covestor Ltd now owns 360 shares of the basic materials company’s stock worth $44,000 after purchasing an additional 84 shares during the period. Avanza Fonder AB grew its holdings in Southern Copper by 1.0% in the third quarter. Avanza Fonder AB now owns 8,663 shares of the basic materials company’s stock worth $1,051,000 after purchasing an additional 86 shares during the period. Redwood Wealth Management Group LLC increased its stake in Southern Copper by 1.5% in the third quarter. Redwood Wealth Management Group LLC now owns 5,999 shares of the basic materials company’s stock valued at $728,000 after purchasing an additional 89 shares in the last quarter. Finally, Convergence Investment Partners LLC raised its holdings in shares of Southern Copper by 0.7% during the third quarter. Convergence Investment Partners LLC now owns 13,743 shares of the basic materials company’s stock valued at $1,668,000 after purchasing an additional 98 shares during the period. Institutional investors and hedge funds own 7.94% of the company’s stock.

Wall Street Analyst Weigh In

SCCO has been the subject of several research reports. Scotiabank restated an “underperform” rating on shares of Southern Copper in a research note on Tuesday, January 27th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $116.51 price objective (down from $118.49) on shares of Southern Copper in a research note on Friday, January 23rd. Citigroup restated a “sell” rating on shares of Southern Copper in a report on Monday, January 12th. UBS Group reiterated a “sell” rating and issued a $148.74 target price (up from $146.75) on shares of Southern Copper in a report on Tuesday, February 3rd. Finally, Wall Street Zen raised shares of Southern Copper from a “hold” rating to a “buy” rating in a research report on Saturday. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and seven have issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $136.49.

Southern Copper Trading Up 1.8%

NYSE:SCCO opened at $210.87 on Wednesday. Southern Copper Corporation has a 52 week low of $74.84 and a 52 week high of $218.81. The firm has a 50-day moving average price of $176.47 and a two-hundred day moving average price of $140.10. The company has a debt-to-equity ratio of 0.64, a quick ratio of 3.91 and a current ratio of 4.52. The firm has a market cap of $171.26 billion, a price-to-earnings ratio of 39.64, a price-to-earnings-growth ratio of 1.70 and a beta of 1.07.

Southern Copper Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Tuesday, February 10th will be given a dividend of $1.00 per share. The ex-dividend date is Tuesday, February 10th. This is an increase from Southern Copper’s previous quarterly dividend of $0.90. This represents a $4.00 annualized dividend and a yield of 1.9%. Southern Copper’s dividend payout ratio (DPR) is currently 75.19%.

Insider Transactions at Southern Copper

In other Southern Copper news, Director Lerdo De Tejada Leon Contreras sold 9,326 shares of the stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $209.56, for a total transaction of $1,954,344.91. Following the completion of the transaction, the director directly owned 605 shares of the company’s stock, valued at approximately $126,783.04. This represents a 93.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Bonilla Luis Miguel Palomino sold 403 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $137.83, for a total value of $55,544.87. Following the completion of the sale, the director directly owned 1,275 shares of the company’s stock, valued at $175,731.28. This represents a 24.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.07% of the company’s stock.

Southern Copper Profile

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.