Empowered Funds LLC Takes Position in Southern Copper Co. (NYSE:SCCO)

Empowered Funds LLC bought a new position in Southern Copper Co. (NYSE:SCCO) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,941 shares of the basic materials company’s stock, valued at approximately $456,000.

Several other hedge funds and other institutional investors have also modified their holdings of SCCO. Creative Financial Designs Inc. ADV lifted its holdings in Southern Copper by 172.0% during the 3rd 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 last quarter. McClarren Financial Advisors Inc. raised its stake in shares of Southern Copper by 169.2% in the third quarter. McClarren Financial Advisors Inc. now owns 288 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 181 shares during the last quarter. Itau Unibanco Holding S.A. bought a new position in shares of Southern Copper in the second quarter valued at approximately $31,000. Oakworth Capital Inc. acquired a new position in shares of Southern Copper in the 3rd quarter worth approximately $42,000. Finally, Planning Capital Management Corp bought a new stake in Southern Copper during the 3rd quarter worth approximately $52,000. Institutional investors own 7.94% of the company’s stock.

Southern Copper Stock Performance

Shares of NYSE SCCO opened at $99.74 on Monday. The company has a current ratio of 2.77, a quick ratio of 2.31 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $78.35 billion, a P/E ratio of 25.68, a P/E/G ratio of 1.04 and a beta of 1.18. Southern Copper Co. has a 12 month low of $70.63 and a 12 month high of $129.79. The stock has a 50 day moving average of $110.24 and a 200-day moving average of $109.01.

Southern Copper Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on SCCO shares. Scotiabank lowered their target price on 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. Morgan Stanley raised their price objective on shares of Southern Copper from $97.00 to $100.00 and gave the company an “underweight” rating in a research report on Thursday, September 19th. Finally, Citigroup upped their target price on shares of Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a research report on Wednesday, October 2nd. Six research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $90.63.

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.