CFC Planning Co LLC Makes New Investment in Southern Copper Co. (NYSE:SCCO)

CFC Planning Co LLC bought a new stake in shares of Southern Copper Co. (NYSE:SCCO) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund 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 position.

Other large investors have also recently made changes to their positions in the company. Fisher Asset Management LLC boosted its position in Southern Copper by 10.6% during the third quarter. Fisher Asset Management LLC now owns 2,963,572 shares of the basic materials company’s stock worth $342,796,000 after purchasing an additional 283,562 shares in the last quarter. abrdn plc raised its stake in shares of Southern Copper by 4.4% during the 4th 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 lifted its position in shares of Southern Copper by 1.0% during the 3rd quarter. State Street Corp now owns 2,728,802 shares of the basic materials company’s stock valued at $315,641,000 after buying an additional 27,358 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Southern Copper by 74.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,402,983 shares of the basic materials company’s stock worth $162,283,000 after acquiring an additional 599,610 shares in the last quarter. Finally, Empower Advisory Group LLC increased its holdings in Southern Copper by 3.3% in the 3rd quarter. Empower Advisory Group LLC now owns 1,004,060 shares of the basic materials company’s stock worth $116,140,000 after acquiring an additional 32,314 shares in the last quarter. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Southern Copper Stock Performance

NYSE:SCCO opened at $97.98 on Friday. Southern Copper Co. has a twelve month low of $78.53 and a twelve month high of $129.79. The company has a market cap of $76.97 billion, a P/E ratio of 25.23, a P/E/G ratio of 1.85 and a beta of 1.13. 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 company’s 50-day moving average price is $95.36 and its 200-day moving average price is $102.12.

Southern Copper (NYSE:SCCO) last issued its earnings results on Wednesday, February 12th. The basic materials company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.02 by ($0.01). Southern Copper had a return on equity of 37.11% and a net margin of 27.67%. On average, sell-side analysts forecast that Southern Copper Co. will post 4.38 earnings per share for the current fiscal year.

Southern Copper Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Tuesday, February 11th will be issued a $0.70 dividend. This is a boost from Southern Copper’s previous quarterly dividend of $0.60. This represents a $2.80 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend is Tuesday, February 11th. Southern Copper’s dividend payout ratio is presently 72.09%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on SCCO shares. JPMorgan Chase & Co. upgraded shares of Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 target price on the stock 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 decreased their price target for the company from $106.30 to $102.00 in a research note on Thursday, December 12th. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target 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.