Southern Copper Corporation $SCCO Shares Purchased by O Shaughnessy Asset Management LLC

Key Points

• O Shaughnessy Asset Management LLC increased its Southern Copper stake by 124.4% in the fourth quarter, buying 29,123 additional shares and bringing its total to 52,543 shares worth about $7.54 million.
• Southern Copper reported strong quarterly results, with EPS of $1.92 beating estimates and revenue of $4.25 billion topping expectations. The company also posted a high return on equity of 45.63% and net margin of 34.13%.
• The stock has a mixed outlook from analysts: the consensus rating is “Reduce” with a $145.14 target price, while the shares recently traded at $167.59 and the company continues to pay a quarterly dividend of $1.00, or $4.00 annually.

O Shaughnessy Asset Management LLC raised its stake in shares of Southern Copper Corporation (NYSE:SCCO - Free Report) by 124.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 52,543 shares of the basic materials company's stock after buying 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 reporting period.

Other large investors have also recently bought and sold shares of the company. Lloyd Advisory Services LLC. acquired a new stake in Southern Copper during the 4th quarter valued at $29,000. Caitlin John LLC acquired a new stake in Southern Copper during the 3rd quarter valued at $30,000. Godfrey Financial Associates Inc. acquired a new stake in Southern Copper during the 4th quarter valued at $30,000. IFP Advisors Inc grew its holdings in Southern Copper by 233.3% during the 4th quarter. IFP Advisors Inc now owns 230 shares of the basic materials company's stock valued at $33,000 after buying an additional 161 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in Southern Copper during the 4th quarter valued at $37,000. Institutional investors and hedge funds own 7.94% of the company's stock.

Southern Copper Price Performance

SCCO stock opened at $167.59 on Thursday. Southern Copper Corporation has a 52-week low of $88.73 and a 52-week high of $223.88. The stock's fifty day simple moving average is $182.95 and its 200-day simple moving average is $174.69. The company has a quick ratio of 3.89, a current ratio of 4.38 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $137.27 billion, a price-to-earnings ratio of 27.70, a price-to-earnings-growth ratio of 1.65 and a beta of 1.09.

Southern Copper (NYSE:SCCO - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The basic materials company reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts' expectations of $3.96 billion. Equities research analysts expect that Southern Copper Corporation will post 7.25 EPS for the current year.

Southern Copper Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Wednesday, May 13th were given a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Wednesday, May 13th. Southern Copper's dividend payout ratio (DPR) is 66.12%.

Analysts Set New Price Targets

A number of brokerages have commented on SCCO. JPMorgan Chase & Co. increased their target price on Southern Copper from $117.50 to $127.00 and gave the company an "underweight" rating in a report on Friday, April 10th. The Goldman Sachs Group upgraded Southern Copper from a "sell" rating to a "neutral" rating and set a $178.00 price objective on the stock in a report on Friday, April 10th. Wells Fargo & Company set a $171.00 price objective on Southern Copper and gave the stock an "equal weight" rating in a report on Friday, May 1st. Barclays initiated coverage on Southern Copper in a report on Thursday, May 21st. They set an "underweight" rating and a $148.00 price objective on the stock. Finally, Morgan Stanley raised their price objective on Southern Copper from $155.00 to $160.00 and gave the stock an "underweight" rating in a report on Thursday, April 9th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and eight have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Reduce" and a consensus target price of $145.14.

Insider Buying and Selling at Southern Copper

In related news, Director Bonilla Luis Miguel Palomino sold 200 shares of the stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $177.82, for a total value of $35,564.00. Following the transaction, the director directly owned 1,807 shares of the company's stock, valued at approximately $321,320.74. This trade represents a 9.97% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders sold 597 shares of company stock valued at $107,806. Company insiders own 0.07% of the company's stock.

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.

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