KCM Investment Advisors LLC boosted its holdings in Southern Copper Co. (NYSE:SCCO - Free Report) by 25.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,952 shares of the basic materials company's stock after purchasing an additional 14,189 shares during the quarter. KCM Investment Advisors LLC's holdings in Southern Copper were worth $6,375,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of SCCO. abrdn plc lifted its holdings in shares of 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 purchasing an additional 118,909 shares during the period. State Street Corp lifted its stake in shares of Southern Copper by 1.0% in the 3rd quarter. State Street Corp now owns 2,728,802 shares of the basic materials company's stock worth $315,641,000 after acquiring an additional 27,358 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Southern Copper by 74.6% in the third quarter. JPMorgan Chase & Co. now owns 1,402,983 shares of the basic materials company's stock valued at $162,283,000 after acquiring an additional 599,610 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Southern Copper by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 972,657 shares of the basic materials company's stock worth $88,638,000 after acquiring an additional 18,426 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Southern Copper by 4.6% during the fourth quarter. Geode Capital Management LLC now owns 641,765 shares of the basic materials company's stock worth $58,180,000 after purchasing an additional 28,479 shares in the last quarter. 7.94% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research firms have issued reports on SCCO. Morgan Stanley upgraded Southern Copper from an "underweight" rating to an "equal weight" rating and dropped their target price for the stock from $106.30 to $102.00 in a research report on Thursday, December 12th. UBS Group raised Southern Copper from a "neutral" rating to a "buy" rating and set a $120.00 price objective on the stock in a report on Thursday, March 13th. Finally, Scotiabank raised their target price on Southern Copper from $52.00 to $72.00 and gave the company a "sector underperform" rating in a report on Monday, March 10th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $94.42.
Read Our Latest Analysis on SCCO
Southern Copper Stock Performance
Shares of SCCO stock traded down $3.05 during trading hours on Thursday, reaching $81.38. The stock had a trading volume of 1,039,418 shares, compared to its average volume of 1,214,908. The firm has a market capitalization of $64.79 billion, a PE ratio of 18.77, a price-to-earnings-growth ratio of 1.90 and a beta of 1.04. The firm has a 50-day simple moving average of $92.39 and a 200-day simple moving average of $99.56. Southern Copper Co. has a twelve month low of $74.84 and a twelve month high of $127.34. 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 (NYSE:SCCO - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The basic materials company reported $1.01 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, equities analysts forecast that Southern Copper Co. will post 4.66 earnings per share for the current year.
Southern Copper Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Tuesday, February 11th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.44%. This is a boost from Southern Copper's previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Tuesday, February 11th. Southern Copper's dividend payout ratio (DPR) is presently 64.81%.
Southern Copper Company 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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