Capital Wealth Planning LLC Purchases 11,027 Shares of Southern Copper Co. (NYSE:SCCO)

Capital Wealth Planning LLC lifted its position in Southern Copper Co. (NYSE:SCCO) by 33.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 43,961 shares of the basic materials company’s stock after acquiring an additional 11,027 shares during the period. Capital Wealth Planning LLC’s holdings in Southern Copper were worth $4,006,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Creative Financial Designs Inc. ADV increased its position in Southern Copper by 172.0% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 223 shares of the basic materials company’s stock valued at $26,000 after buying an additional 141 shares in the last quarter. Deseret Mutual Benefit Administrators increased its position in Southern Copper by 210.7% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 379 shares of the basic materials company’s stock valued at $35,000 after buying an additional 257 shares in the last quarter. IFP Advisors Inc increased its position in Southern Copper by 143.4% during the 4th quarter. IFP Advisors Inc now owns 477 shares of the basic materials company’s stock valued at $43,000 after buying an additional 281 shares in the last quarter. Prospera Private Wealth LLC bought a new position in Southern Copper during the 3rd quarter valued at approximately $47,000. Finally, Larson Financial Group LLC increased its position in Southern Copper by 578.3% during the 3rd quarter. Larson Financial Group LLC now owns 407 shares of the basic materials company’s stock valued at $47,000 after buying an additional 347 shares in the last quarter. Institutional investors own 7.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on SCCO shares. Morgan Stanley raised Southern Copper from an “underweight” rating to an “equal weight” rating and reduced their price objective for the company from $106.30 to $102.00 in a research report on Thursday, December 12th. JPMorgan Chase & Co. raised Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price objective for the company in a research report on Monday, December 2nd. Four research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $94.81.

Southern Copper Stock Performance

Shares of SCCO opened at $88.78 on Friday. The business’s fifty day simple moving average is $94.35 and its two-hundred day simple moving average is $101.62. The company has a current ratio of 2.77, a quick ratio of 2.31 and a debt-to-equity ratio of 0.64. Southern Copper Co. has a 12 month low of $79.33 and a 12 month high of $129.79. The company has a market cap of $69.74 billion, a price-to-earnings ratio of 20.55, a P/E/G ratio of 1.90 and a beta of 1.13.

Southern Copper (NYSE:SCCO) last released its quarterly 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 return on equity of 40.27% and a net margin of 29.53%. Research analysts anticipate that Southern Copper Co. will post 4.66 earnings per share for the current fiscal year.

Southern Copper Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Tuesday, February 11th were paid a $0.70 dividend. This is an increase from Southern Copper’s previous quarterly dividend of $0.60. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date was Tuesday, February 11th. Southern Copper’s dividend payout ratio (DPR) is 64.81%.

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.