Southern Copper Corporation (NYSE:SCCO) Shares Sold by Empirical Financial Services LLC d.b.a. Empirical Wealth Management

Empirical Financial Services LLC d.b.a. Empirical Wealth Management lowered its holdings in shares of Southern Copper Corporation (NYSE:SCCO) by 84.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,840 shares of the basic materials company’s stock after selling 36,665 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Southern Copper were worth $639,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in SCCO. Capital World Investors boosted its stake in Southern Copper by 0.6% during the 4th quarter. Capital World Investors now owns 4,232,245 shares of the basic materials company’s stock valued at $385,684,000 after purchasing an additional 24,787 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Southern Copper by 0.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,700,844 shares of the basic materials company’s stock valued at $337,260,000 after buying an additional 15,037 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Southern Copper by 10.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,354,637 shares of the basic materials company’s stock valued at $123,448,000 after buying an additional 130,710 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Southern Copper by 6.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,280,286 shares of the basic materials company’s stock worth $116,672,000 after acquiring an additional 78,769 shares during the period. Finally, FIL Ltd raised its position in Southern Copper by 0.3% in the fourth quarter. FIL Ltd now owns 1,171,227 shares of the basic materials company’s stock worth $106,734,000 after acquiring an additional 3,045 shares in the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Morgan Stanley restated an “underweight” rating and set a $99.00 price objective (up previously from $86.00) on shares of Southern Copper in a research report on Tuesday, July 15th. Itau BBA Securities raised shares of Southern Copper from an “underperform” rating to a “market perform” rating in a research note on Wednesday, June 11th. JPMorgan Chase & Co. decreased their price target on shares of Southern Copper from $83.50 to $79.00 and set a “neutral” rating on the stock in a research report on Thursday, July 3rd. UBS Group downgraded Southern Copper from a “buy” rating to a “neutral” rating and set a $105.00 price objective for the company. in a research report on Tuesday, July 1st. Finally, Hsbc Global Res raised Southern Copper from a “moderate sell” rating to a “hold” rating in a research note on Thursday, April 24th. Three research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $91.00.

Southern Copper Price Performance

SCCO opened at $91.57 on Friday. The firm has a market capitalization of $72.91 billion, a P/E ratio of 20.04, a PEG ratio of 1.32 and a beta of 1.00. The stock has a fifty day moving average of $97.39 and a 200-day moving average of $93.81. The company has a quick ratio of 3.22, a current ratio of 3.71 and a debt-to-equity ratio of 0.70. Southern Copper Corporation has a 12-month low of $74.84 and a 12-month high of $121.44.

Southern Copper Increases Dividend

The firm also recently announced a — dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be paid a dividend of $1.01 per share. This is a boost from Southern Copper’s previous — dividend of $0.62. The ex-dividend date of this dividend is Friday, August 15th. This represents a yield of 270.0%. Southern Copper’s dividend payout ratio (DPR) is presently 61.27%.

About Southern Copper

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.