Oxford Financial Group LTD. LLC Takes $870,000 Position in Southern Copper Corporation $SCCO

Oxford Financial Group LTD. LLC bought a new stake in shares of Southern Copper Corporation (NYSE:SCCO) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 4,992 shares of the basic materials company’s stock, valued at approximately $870,000.

A number of other institutional investors have also bought and sold shares of the business. California Public Employees Retirement System lifted its holdings in Southern Copper by 21.2% in the 1st quarter. California Public Employees Retirement System now owns 192,523 shares of the basic materials company’s stock worth $33,126,000 after purchasing an additional 33,638 shares in the last quarter. RFG Advisory LLC bought a new position in Southern Copper in the 4th quarter worth approximately $1,147,000. US Bancorp DE boosted its stake in Southern Copper by 16.2% in the 4th quarter. US Bancorp DE now owns 74,484 shares of the basic materials company’s stock worth $10,687,000 after purchasing an additional 10,360 shares during the period. Ashoka WhiteOak Capital Pte Ltd purchased a new stake in Southern Copper during the 4th quarter valued at approximately $5,460,000. Finally, Precision Wealth Strategies LLC purchased a new stake in Southern Copper during the 1st quarter valued at approximately $2,769,000. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on SCCO. Wells Fargo & Company boosted their target price on shares of Southern Copper from $168.97 to $169.96 and gave the stock an “equal weight” rating in a report on Thursday, July 9th. Scotiabank reaffirmed an “underperform” rating and set a $138.34 target price (up from $133.40) on shares of Southern Copper in a research note on Monday, June 15th. Barclays set a $164.03 price target on shares of Southern Copper and gave the company an “underweight” rating in a report on Thursday, July 23rd. Weiss Ratings upgraded shares of Southern Copper from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, July 28th. Finally, Zacks Research downgraded shares of Southern Copper from a “strong-buy” rating to a “hold” rating in a report on Friday, August 7th. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and seven have assigned a Sell rating to the stock. According to MarketBeat.com, Southern Copper has a consensus rating of “Reduce” and an average target price of $146.84.

Insider Activity

In other news, Director Bonilla Luis Miguel Palomino sold 202 shares of Southern Copper stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $196.79, for a total value of $39,751.28. Following the completion of the transaction, the director owned 1,723 shares in the company, valued at approximately $339,066.65. The trade was a 10.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders sold 509 shares of company stock valued at $97,753. 0.07% of the stock is owned by company insiders.

Southern Copper Stock Up 2.5%

Shares of NYSE SCCO opened at $199.45 on Friday. The firm’s 50-day moving average price is $181.66 and its 200-day moving average price is $182.97. The company has a current ratio of 5.06, a quick ratio of 4.56 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $166.41 billion, a price-to-earnings ratio of 29.16, a P/E/G ratio of 1.67 and a beta of 1.11. Southern Copper Corporation has a 12-month low of $92.57 and a 12-month high of $223.88.

Southern Copper (NYSE:SCCO) last released its quarterly earnings results on Wednesday, July 22nd. The basic materials company reported $1.99 EPS for the quarter, topping the consensus estimate of $1.93 by $0.06. The company had revenue of $4.29 billion during the quarter, compared to analyst estimates of $4.37 billion. Southern Copper had a return on equity of 49.04% and a net margin of 35.87%.The company’s quarterly revenue was up 40.6% on a year-over-year basis. On average, equities research analysts anticipate that Southern Copper Corporation will post 7.61 EPS for the current fiscal year.

Southern Copper Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Tuesday, August 11th will be paid a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Tuesday, August 11th. This is a positive change from Southern Copper’s previous quarterly dividend of $1.00. Southern Copper’s dividend payout ratio is 64.33%.

Southern Copper Profile

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.