Shoker Investment Counsel Inc. Takes $213,000 Position in Southern Copper Corporation $SCCO

Shoker Investment Counsel Inc. purchased a new stake in Southern Copper Corporation (NYSE:SCCO) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,105 shares of the basic materials company’s stock, valued at approximately $213,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SCCO. Jacobs Levy Equity Management Inc. acquired a new stake in Southern Copper during the 1st quarter worth approximately $40,338,000. Nuveen LLC bought a new stake in shares of Southern Copper during the first quarter worth $34,086,000. JPMorgan Chase & Co. raised its holdings in shares of Southern Copper by 26.3% during the first quarter. JPMorgan Chase & Co. now owns 1,551,878 shares of the basic materials company’s stock worth $145,039,000 after acquiring an additional 322,935 shares during the period. Strs Ohio acquired a new stake in shares of Southern Copper during the first quarter worth $15,382,000. Finally, Wellington Management Group LLP bought a new stake in Southern Copper in the 1st quarter valued at $15,019,000. 7.94% of the stock is currently owned by institutional investors.

Insider Activity at Southern Copper

In other news, Director Bonilla Luis Miguel Palomino sold 200 shares of the business’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $139.35, for a total transaction of $27,870.00. Following the transaction, the director directly owned 1,713 shares in the company, valued at $238,706.55. The trade was a 10.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders have sold 962 shares of company stock valued at $118,232. Company insiders own 0.07% of the company’s stock.

Southern Copper Stock Down 2.8%

SCCO stock opened at $127.03 on Tuesday. The company has a market cap of $103.18 billion, a price-to-earnings ratio of 26.63, a P/E/G ratio of 1.29 and a beta of 1.08. Southern Copper Corporation has a twelve month low of $74.84 and a twelve month high of $144.81. The business has a 50 day moving average price of $125.60 and a two-hundred day moving average price of $106.55. The company has a quick ratio of 4.51, a current ratio of 5.27 and a debt-to-equity ratio of 0.67.

Southern Copper (NYSE:SCCO) last released its quarterly earnings data on Friday, October 31st. The basic materials company reported $1.35 EPS for the quarter, beating the consensus estimate of $1.26 by $0.09. The company had revenue of $3.38 billion during the quarter, compared to the consensus estimate of $3.05 billion. Southern Copper had a return on equity of 39.62% and a net margin of 30.98%. Analysts anticipate that Southern Copper Corporation will post 4.66 EPS for the current fiscal year.

Southern Copper Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Wednesday, November 12th will be given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Wednesday, November 12th. Southern Copper’s dividend payout ratio (DPR) is 75.47%.

Analyst Ratings Changes

Several analysts have issued reports on SCCO shares. Zacks Research raised Southern Copper from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 7th. JPMorgan Chase & Co. lifted their target price on Southern Copper from $92.00 to $114.50 and gave the company a “neutral” rating in a research report on Monday, October 27th. Jefferies Financial Group set a $155.00 target price on Southern Copper and gave the company a “buy” rating in a research note on Monday, October 6th. Citigroup reaffirmed a “sell” rating and set a $108.00 price target (up from $89.10) on shares of Southern Copper in a research note on Wednesday, October 8th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Southern Copper in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $117.94.

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.