abrdn plc Boosts Stock Position in Southern Copper Co. (NYSE:SCCO)

abrdn plc lifted its holdings in Southern Copper Co. (NYSE:SCCO - Free Report) by 4.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,849,638 shares of the basic materials company's stock after buying an additional 118,909 shares during the quarter. abrdn plc owned approximately 0.36% of Southern Copper worth $260,428,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of SCCO. Northwestern Mutual Wealth Management Co. boosted its holdings in Southern Copper by 222.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,871 shares of the basic materials company's stock worth $202,000 after acquiring an additional 1,291 shares in the last quarter. Truist Financial Corp boosted its stake in Southern Copper by 83.4% in the 2nd quarter. Truist Financial Corp now owns 35,185 shares of the basic materials company's stock worth $3,791,000 after purchasing an additional 15,995 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in Southern Copper during the 2nd quarter valued at about $611,000. Massmutual Trust Co. FSB ADV increased its stake in Southern Copper by 30.8% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 683 shares of the basic materials company's stock valued at $79,000 after purchasing an additional 161 shares in the last quarter. Finally, Handelsbanken Fonder AB raised its holdings in Southern Copper by 2.0% in the third quarter. Handelsbanken Fonder AB now owns 101,563 shares of the basic materials company's stock worth $11,748,000 after buying an additional 1,950 shares during the last quarter. 7.94% of the stock is currently owned by institutional investors.

Southern Copper Stock Performance

Shares of SCCO traded up $2.23 during trading hours on Friday, hitting $96.84. The stock had a trading volume of 1,160,383 shares, compared to its average volume of 1,153,024. The firm has a market capitalization of $76.07 billion, a PE ratio of 24.93, a PEG ratio of 1.79 and a beta of 1.13. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.77 and a quick ratio of 2.31. Southern Copper Co. has a 12 month low of $77.42 and a 12 month high of $129.79. The stock has a fifty day moving average price of $95.82 and a 200 day moving average price of $102.42.

Southern Copper Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Tuesday, February 11th will be given a dividend of $0.70 per share. The ex-dividend date is Monday, February 10th. This represents a $2.80 annualized dividend and a dividend yield of 2.89%. This is a positive change from Southern Copper's previous quarterly dividend of $0.60. Southern Copper's dividend payout ratio is presently 72.16%.

Wall Street Analysts Forecast Growth

SCCO has been the topic of a number of recent analyst reports. Scotiabank cut their price target on shares of Southern Copper from $54.00 to $52.00 and set a "sector underperform" rating on the stock in a report on Tuesday, October 15th. Morgan Stanley upgraded Southern Copper from an "underweight" rating to an "equal weight" rating and cut their target price for the company from $106.30 to $102.00 in a research note on Thursday, December 12th. Finally, JPMorgan Chase & Co. upgraded Southern Copper from an "underweight" rating to a "neutral" rating and set a $92.50 price target for the company in a research note on Monday, December 2nd. Four research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $94.81.

Southern Copper 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.