CFC Planning Co LLC Acquires New Shares in Southern Copper Co. (NYSE:SCCO)

CFC Planning Co LLC bought a new stake in Southern Copper Co. (NYSE:SCCO - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 25,969 shares of the basic materials company's stock, valued at approximately $2,367,000. Southern Copper makes up about 2.5% of CFC Planning Co LLC's investment portfolio, making the stock its 17th biggest holding.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Fisher Asset Management LLC grew its holdings in shares of Southern Copper by 10.6% in the third quarter. Fisher Asset Management LLC now owns 2,963,572 shares of the basic materials company's stock valued at $342,796,000 after purchasing an additional 283,562 shares in the last quarter. abrdn plc boosted its stake in Southern Copper by 4.4% during the fourth quarter. abrdn plc now owns 2,849,638 shares of the basic materials company's stock worth $260,428,000 after buying an additional 118,909 shares during the period. State Street Corp boosted its stake in Southern Copper by 1.0% during the third quarter. State Street Corp now owns 2,728,802 shares of the basic materials company's stock worth $315,641,000 after buying an additional 27,358 shares during the period. JPMorgan Chase & Co. boosted its stake in Southern Copper by 74.6% during the third quarter. JPMorgan Chase & Co. now owns 1,402,983 shares of the basic materials company's stock worth $162,283,000 after buying an additional 599,610 shares during the period. Finally, Empower Advisory Group LLC boosted its stake in Southern Copper by 3.3% during the third quarter. Empower Advisory Group LLC now owns 1,004,060 shares of the basic materials company's stock worth $116,140,000 after buying an additional 32,314 shares during the period. 7.94% of the stock is owned by hedge funds and other institutional investors.

Southern Copper Trading Up 0.0 %

Shares of SCCO traded up $0.04 during trading hours on Tuesday, reaching $97.31. 1,159,900 shares of the company traded hands, compared to its average volume of 1,197,626. The firm has a market cap of $76.44 billion, a price-to-earnings ratio of 25.05, a PEG ratio of 1.85 and a beta of 1.13. Southern Copper Co. has a 12-month low of $78.82 and a 12-month high of $129.79. The company has a current ratio of 2.77, a quick ratio of 2.31 and a debt-to-equity ratio of 0.64. The stock's fifty day moving average price is $95.08 and its 200 day moving average price is $101.99.

Southern Copper (NYSE:SCCO - Get Free Report) last issued 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 27.67% and a return on equity of 37.11%. Sell-side analysts forecast that Southern Copper Co. will post 4.38 earnings per share for the current year.

Southern Copper Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Tuesday, February 11th will be issued a $0.70 dividend. This is an increase from Southern Copper's previous quarterly dividend of $0.60. This represents a $2.80 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend is Tuesday, February 11th. Southern Copper's payout ratio is presently 72.09%.

Wall Street Analyst Weigh In

SCCO has been the subject of several recent analyst reports. Morgan Stanley raised shares of Southern Copper from an "underweight" rating to an "equal weight" rating and dropped their price objective for the stock from $106.30 to $102.00 in a research note on Thursday, December 12th. JPMorgan Chase & Co. raised shares of Southern Copper from an "underweight" rating to a "neutral" rating and set a $92.50 price objective for the company in a research note on Monday, December 2nd. Four investment 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 stock presently has an average rating of "Hold" and a consensus price target of $94.81.

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.