Oppenheimer Asset Management Inc. Boosts Position in Southern Copper Co. (NYSE:SCCO)

Oppenheimer Asset Management Inc. boosted its position in shares of Southern Copper Co. (NYSE:SCCO) by 0.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 19,936 shares of the basic materials company’s stock after acquiring an additional 145 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Southern Copper were worth $1,817,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of SCCO. Creative Financial Designs Inc. ADV grew its holdings in Southern Copper by 172.0% during the third quarter. Creative Financial Designs Inc. ADV now owns 223 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 141 shares during the period. Deseret Mutual Benefit Administrators grew its holdings in Southern Copper by 210.7% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 379 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 257 shares during the period. IFP Advisors Inc grew its holdings in Southern Copper by 143.4% during the fourth quarter. IFP Advisors Inc now owns 477 shares of the basic materials company’s stock valued at $43,000 after purchasing an additional 281 shares during the period. Prospera Private Wealth LLC bought a new stake in Southern Copper during the third quarter valued at about $47,000. Finally, Larson Financial Group LLC grew its holdings in Southern Copper by 578.3% during the third quarter. Larson Financial Group LLC now owns 407 shares of the basic materials company’s stock valued at $47,000 after purchasing an additional 347 shares during the period. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. JPMorgan Chase & Co. raised Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price target for the company in a report on Monday, December 2nd. Morgan Stanley raised Southern Copper from an “underweight” rating to an “equal weight” rating and dropped their price objective for the stock from $106.30 to $102.00 in a research note on Thursday, December 12th. Four research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Southern Copper has a consensus rating of “Hold” and an average price target of $94.81.

Southern Copper Stock Performance

NYSE SCCO opened at $86.57 on Tuesday. The firm has a market cap of $68.00 billion, a price-to-earnings ratio of 20.04, a price-to-earnings-growth ratio of 1.90 and a beta of 1.13. The company has a quick ratio of 2.31, a current ratio of 2.77 and a debt-to-equity ratio of 0.64. The business has a 50-day moving average price of $94.21 and a 200-day moving average price of $101.49. Southern Copper Co. has a twelve month low of $79.33 and a twelve month high of $129.79.

Southern Copper (NYSE:SCCO) last announced its quarterly earnings results on Wednesday, February 12th. The basic materials company reported $1.01 EPS for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.01). Southern Copper had a net margin of 29.53% and a return on equity of 40.27%. As a group, equities research analysts predict that Southern Copper Co. will post 4.66 EPS for the current fiscal year.

Southern Copper Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Tuesday, February 11th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Tuesday, February 11th. This is a positive change from Southern Copper’s previous quarterly dividend of $0.60. This represents a $2.80 dividend on an annualized basis and a yield of 3.23%. Southern Copper’s dividend payout ratio is presently 64.81%.

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.