Southern Copper Co. (NYSE:SCCO) Shares Acquired by Capital Wealth Planning LLC

Capital Wealth Planning LLC raised its position in shares of Southern Copper Co. (NYSE:SCCO) by 44.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,560 shares of the basic materials company’s stock after acquiring an additional 6,683 shares during the quarter. Capital Wealth Planning LLC’s holdings in Southern Copper were worth $2,323,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Norden Group LLC acquired a new position in shares of Southern Copper during the first quarter valued at approximately $1,820,000. Los Angeles Capital Management LLC grew its position in shares of Southern Copper by 471.0% in the first quarter. Los Angeles Capital Management LLC now owns 31,655 shares of the basic materials company’s stock valued at $3,372,000 after purchasing an additional 26,111 shares in the last quarter. Cetera Investment Advisers grew its position in shares of Southern Copper by 395.1% in the first quarter. Cetera Investment Advisers now owns 38,803 shares of the basic materials company’s stock valued at $4,133,000 after purchasing an additional 30,966 shares in the last quarter. Corient Private Wealth LLC grew its position in shares of Southern Copper by 149.6% in the fourth quarter. Corient Private Wealth LLC now owns 50,057 shares of the basic materials company’s stock valued at $4,308,000 after purchasing an additional 29,999 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of Southern Copper by 1.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,014,356 shares of the basic materials company’s stock valued at $87,306,000 after purchasing an additional 18,883 shares in the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on SCCO shares. Scotiabank dropped their price target on Southern Copper from $55.00 to $54.00 and set a “sector underperform” rating for the company in a research report on Tuesday, May 21st. UBS Group began coverage on Southern Copper in a research report on Friday, July 12th. They issued a “neutral” rating and a $120.00 price objective for the company. Finally, Morgan Stanley increased their price objective on Southern Copper from $81.70 to $100.00 and gave the stock an “underweight” rating in a research report on Friday, June 21st. Five investment analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Southern Copper has a consensus rating of “Hold” and an average target price of $89.57.

Southern Copper Trading Up 0.7 %

SCCO opened at $98.69 on Monday. Southern Copper Co. has a 52 week low of $68.93 and a 52 week high of $129.79. The business has a fifty day simple moving average of $103.30 and a 200-day simple moving average of $107.26. The firm has a market cap of $77.09 billion, a P/E ratio of 32.79, a P/E/G ratio of 0.99 and a beta of 1.17. The company has a quick ratio of 2.27, a current ratio of 2.81 and a debt-to-equity ratio of 0.67.

Southern Copper (NYSE:SCCO) last released its quarterly earnings results on Friday, July 19th. The basic materials company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.13 by $0.09. The business had revenue of $3.12 billion during the quarter, compared to analyst estimates of $2.96 billion. Southern Copper had a return on equity of 34.98% and a net margin of 26.15%. On average, equities analysts expect that Southern Copper Co. will post 4.33 earnings per share for the current year.

Southern Copper Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date was Friday, August 9th. Southern Copper’s dividend payout ratio is presently 79.73%.

About Southern Copper

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.