O Shaughnessy Asset Management LLC Raises Holdings in Southern Copper Corporation $SCCO

O Shaughnessy Asset Management LLC raised its stake in Southern Copper Corporation (NYSE:SCCO) by 124.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,543 shares of the basic materials company’s stock after purchasing an additional 29,123 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Southern Copper were worth $7,538,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Lloyd Advisory Services LLC. purchased a new position in Southern Copper in the fourth quarter valued at about $29,000. Caitlin John LLC purchased a new position in Southern Copper in the third quarter valued at about $30,000. Godfrey Financial Associates Inc. purchased a new position in Southern Copper in the fourth quarter valued at about $30,000. IFP Advisors Inc raised its position in Southern Copper by 233.3% in the fourth quarter. IFP Advisors Inc now owns 230 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 161 shares during the period. Finally, International Assets Investment Management LLC purchased a new position in Southern Copper in the fourth quarter valued at about $37,000. 7.94% of the stock is owned by hedge funds and other institutional investors.

Southern Copper Stock Down 4.3%

Shares of NYSE SCCO opened at $167.59 on Thursday. Southern Copper Corporation has a 1 year low of $88.73 and a 1 year high of $223.88. The firm has a market cap of $137.27 billion, a price-to-earnings ratio of 27.70, a PEG ratio of 1.65 and a beta of 1.09. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.89 and a current ratio of 4.38. The stock’s 50-day simple moving average is $182.95 and its 200-day simple moving average is $174.69.

Southern Copper (NYSE:SCCO) last announced its earnings results on Wednesday, April 29th. The basic materials company reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.04. Southern Copper had a return on equity of 45.63% and a net margin of 34.13%.The business had revenue of $4.25 billion for the quarter, compared to analyst estimates of $3.96 billion. As a group, equities analysts anticipate that Southern Copper Corporation will post 7.25 earnings per share for the current fiscal year.

Southern Copper Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Wednesday, May 13th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Wednesday, May 13th. Southern Copper’s payout ratio is presently 66.12%.

Wall Street Analysts Forecast Growth

Several research firms have commented on SCCO. Wells Fargo & Company set a $171.00 price objective on Southern Copper and gave the company an “equal weight” rating in a research report on Friday, May 1st. Wall Street Zen lowered Southern Copper from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Barclays began coverage on Southern Copper in a research report on Thursday, May 21st. They issued an “underweight” rating and a $148.00 price objective on the stock. Bank of America lowered Southern Copper from a “neutral” rating to an “underperform” rating and raised their price objective for the company from $162.00 to $175.00 in a research report on Thursday, February 26th. Finally, Morgan Stanley raised their price objective on Southern Copper from $155.00 to $160.00 and gave the company an “underweight” rating in a research report on Thursday, April 9th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and eight have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $145.14.

Insider Activity

In other news, Director Bonilla Luis Miguel Palomino sold 200 shares of Southern Copper stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $177.82, for a total transaction of $35,564.00. Following the sale, the director directly owned 1,807 shares of the company’s stock, valued at approximately $321,320.74. The trade was a 9.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 597 shares of company stock worth $107,806 over the last 90 days. 0.07% of the stock is currently owned by insiders.

About Southern Copper

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.