Capital Wealth Planning LLC Acquires 23,853 Shares of Southern Copper Corporation $SCCO

Capital Wealth Planning LLC lifted its holdings in shares of Southern Copper Corporation (NYSE:SCCO) by 26.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 115,569 shares of the basic materials company’s stock after purchasing an additional 23,853 shares during the period. Capital Wealth Planning LLC’s holdings in Southern Copper were worth $17,184,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Lloyd Advisory Services LLC. bought a new stake in shares of Southern Copper during the 4th quarter worth $29,000. Godfrey Financial Associates Inc. bought a new stake in shares of Southern Copper during the 4th quarter worth $30,000. IFP Advisors Inc raised its stake in shares of Southern Copper by 233.3% during the 4th quarter. IFP Advisors Inc now owns 230 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 161 shares during the period. Caitlin John LLC bought a new stake in shares of Southern Copper during the 3rd quarter worth $30,000. Finally, International Assets Investment Management LLC bought a new stake in shares of Southern Copper during the 4th quarter worth $37,000. 7.94% of the stock is currently owned by institutional investors.

Southern Copper Trading Down 4.3%

Shares of Southern Copper stock opened at $167.59 on Thursday. Southern Copper Corporation has a 52-week low of $88.73 and a 52-week high of $223.88. The stock’s 50-day simple moving average is $182.95 and its 200 day simple moving average is $174.69. The stock has a market capitalization of $137.27 billion, a P/E ratio of 27.70, a P/E/G ratio of 1.65 and a beta of 1.09. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.89 and a current ratio of 4.38.

Southern Copper (NYSE:SCCO) last announced its quarterly earnings data on Wednesday, April 29th. The basic materials company reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.04. Southern Copper had a return on equity of 45.63% and a net margin of 34.13%.The business had revenue of $4.25 billion for the quarter, compared to analysts’ expectations of $3.96 billion. As a group, research analysts anticipate that Southern Copper Corporation will post 7.25 EPS for the current year.

Southern Copper Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Wednesday, May 13th were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Wednesday, May 13th. Southern Copper’s payout ratio is currently 66.12%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SCCO. Weiss Ratings reiterated a “buy (b)” rating on shares of Southern Copper in a research note on Friday, March 27th. Morgan Stanley lifted their target price on Southern Copper from $155.00 to $160.00 and gave the stock an “underweight” rating in a research note on Thursday, April 9th. Wall Street Zen cut Southern Copper from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. UBS Group lifted their target price on Southern Copper from $140.00 to $145.00 and gave the stock a “sell” rating in a research note on Thursday, May 21st. Finally, Scotiabank reiterated an “underperform” rating and set a $135.00 target price (up from $133.00) on shares of Southern Copper in a research note on Friday, May 15th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and eight have issued a Sell rating to the company. According to data from MarketBeat.com, Southern Copper has a consensus rating of “Reduce” and an average target price of $145.14.

Insider Transactions at Southern Copper

In related news, Director Bonilla Luis Miguel Palomino sold 200 shares of the business’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $177.82, for a total value of $35,564.00. Following the sale, the director directly owned 1,807 shares in the company, valued at approximately $321,320.74. The trade was a 9.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last quarter, insiders sold 597 shares of company stock valued at $107,806. Insiders own 0.07% of the company’s stock.

About Southern Copper

Southern Copper Corporation (NYSE: SCCO) is a large, integrated copper producer whose operations span the full value chain from exploration and mining to smelting, refining and the sale of copper and other metal products. The company produces a range of copper products including copper concentrate and refined cathodes, and recovers valuable byproducts such as molybdenum, silver and zinc. Southern Copper concentrates on high-volume, long-life assets designed to support steady production and processing capabilities.

Southern Copper’s operations are concentrated in Peru and Mexico, where it owns and operates multiple large-scale mining and processing facilities.