Capital Wealth Planning LLC increased its stake in Southern Copper Co. (NYSE:SCCO - Free Report) by 33.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,961 shares of the basic materials company's stock after purchasing an additional 11,027 shares during the period. Capital Wealth Planning LLC's holdings in Southern Copper were worth $4,006,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Fisher Asset Management LLC increased its stake in shares of Southern Copper by 10.6% in the 3rd quarter. Fisher Asset Management LLC now owns 2,963,572 shares of the basic materials company's stock valued at $342,796,000 after buying an additional 283,562 shares during the period. abrdn plc boosted its holdings in Southern Copper by 4.4% in the fourth quarter. abrdn plc now owns 2,849,638 shares of the basic materials company's stock valued at $260,428,000 after acquiring an additional 118,909 shares during the last quarter. State Street Corp increased its position in Southern Copper by 1.0% in the third quarter. State Street Corp now owns 2,728,802 shares of the basic materials company's stock worth $315,641,000 after purchasing an additional 27,358 shares during the period. JPMorgan Chase & Co. raised its holdings in Southern Copper by 74.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,402,983 shares of the basic materials company's stock worth $162,283,000 after purchasing an additional 599,610 shares during the last quarter. Finally, Empower Advisory Group LLC lifted its position in Southern Copper by 3.3% during the 3rd quarter. Empower Advisory Group LLC now owns 1,004,060 shares of the basic materials company's stock valued at $116,140,000 after purchasing an additional 32,314 shares during the period. Institutional investors own 7.94% of the company's stock.
Wall Street Analyst Weigh In
SCCO has been the subject of several analyst reports. JPMorgan Chase & Co. upgraded shares of Southern Copper from an "underweight" rating to a "neutral" rating and set a $92.50 price target for the company in a research report on Monday, December 2nd. Morgan Stanley raised shares of Southern Copper from an "underweight" rating to an "equal weight" rating and lowered their target price for the stock from $106.30 to $102.00 in a report on Thursday, December 12th. Four analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $94.81.
Check Out Our Latest Report on SCCO
Southern Copper Trading Up 5.1 %
Shares of SCCO stock traded up $4.38 on Wednesday, hitting $90.30. The stock had a trading volume of 2,097,233 shares, compared to its average volume of 1,214,543. The company has a current ratio of 2.77, a quick ratio of 2.31 and a debt-to-equity ratio of 0.64. Southern Copper Co. has a twelve month low of $81.12 and a twelve month high of $129.79. The company has a fifty day moving average price of $93.95 and a two-hundred day moving average price of $101.28. The firm has a market cap of $70.93 billion, a P/E ratio of 20.90, a PEG ratio of 1.90 and a beta of 1.12.
Southern Copper (NYSE:SCCO - Get Free Report) last posted its earnings results on Wednesday, February 12th. The basic materials company reported $1.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.02 by ($0.01). Southern Copper had a net margin of 29.53% and a return on equity of 40.27%. As a group, analysts forecast that Southern Copper Co. will post 4.66 earnings per share for the current fiscal year.
Southern Copper Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Tuesday, February 11th were issued a dividend of $0.70 per share. This is an increase from Southern Copper's previous quarterly dividend of $0.60. This represents a $2.80 annualized dividend and a yield of 3.10%. The ex-dividend date was Tuesday, February 11th. Southern Copper's dividend payout ratio (DPR) is 64.81%.
Southern Copper Profile
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Free Report)
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.
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