Southern Copper Co. (NYSE:SCCO) Shares Acquired by Empower Advisory Group LLC

Empower Advisory Group LLC lifted its stake in shares of Southern Copper Co. (NYSE:SCCO) by 3.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,004,060 shares of the basic materials company’s stock after acquiring an additional 32,314 shares during the quarter. Empower Advisory Group LLC’s holdings in Southern Copper were worth $116,140,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in SCCO. Creative Financial Designs Inc. ADV boosted 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 worth $26,000 after buying an additional 141 shares in the last quarter. McClarren Financial Advisors Inc. boosted its holdings in Southern Copper by 169.2% during the third quarter. McClarren Financial Advisors Inc. now owns 288 shares of the basic materials company’s stock worth $33,000 after buying an additional 181 shares in the last quarter. Itau Unibanco Holding S.A. bought a new stake in Southern Copper during the second quarter worth approximately $31,000. Oakworth Capital Inc. bought a new stake in Southern Copper during the third quarter worth approximately $42,000. Finally, Hanseatic Management Services Inc. bought a new stake in Southern Copper during the second quarter worth approximately $53,000. Institutional investors and hedge funds own 7.94% of the company’s stock.

Wall Street Analysts Forecast Growth

SCCO has been the subject of a number of research reports. Morgan Stanley raised their target price on shares of Southern Copper from $97.00 to $100.00 and gave the stock an “underweight” rating in a report on Thursday, September 19th. Citigroup raised their price objective on shares of Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a research note on Wednesday, October 2nd. Finally, Scotiabank decreased their price objective on shares of Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating for the company in a research note on Tuesday, October 15th. Six equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $90.63.

Southern Copper Stock Down 2.0 %

SCCO stock opened at $102.70 on Wednesday. Southern Copper Co. has a 12-month low of $70.13 and a 12-month high of $129.79. 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 company has a market cap of $80.67 billion, a price-to-earnings ratio of 26.44, a PEG ratio of 1.08 and a beta of 1.18. The company has a 50 day moving average of $109.32 and a two-hundred day moving average of $109.94.

Southern Copper Announces Dividend

The business also recently announced a — dividend, which will be paid on Thursday, November 21st. Shareholders of record on Wednesday, November 6th will be given a $0.62 dividend. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a yield of 2.1%. Southern Copper’s payout ratio is 72.09%.

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.