By otakuyassine3@gmail.com 
Kingsview Wealth Management LLC decreased its stake in shares of Southern Copper Co. (NYSE:SCCO – Free Report) by 13.6% during the fourth quarter, HoldingsChannel reports. The firm owned 3,371 shares of the basic materials company’s stock after selling 531 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Southern Copper were worth $307,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Fisher Asset Management LLC increased its stake in shares of Southern Copper by 10.6% in 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 acquiring an additional 283,562 shares during the period. abrdn plc increased its stake in shares of Southern Copper by 4.4% in the fourth quarter. abrdn plc now owns 2,849,638 shares of the basic materials company’s stock worth $260,428,000 after acquiring an additional 118,909 shares during the period. State Street Corp increased its stake in shares of Southern Copper by 1.0% in the third 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. increased its stake 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 worth $162,283,000 after acquiring an additional 599,610 shares during the period. Finally, Empower Advisory Group LLC increased its stake in shares of Southern Copper by 3.3% in the third 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 during the period. Institutional investors and hedge funds own 7.94% of the company’s stock.
Southern Copper Stock Performance
SCCO opened at $97.41 on Friday. The company has a quick ratio of 2.31, a current ratio of 2.77 and a debt-to-equity ratio of 0.64. The company has a market cap of $76.52 billion, a price-to-earnings ratio of 25.08, a PEG ratio of 1.85 and a beta of 1.13. Southern Copper Co. has a 52-week low of $78.82 and a 52-week high of $129.79. The firm’s fifty day simple moving average is $95.30 and its two-hundred day simple moving average is $102.10.
Southern Copper (NYSE:SCCO – Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The basic materials company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.01). Southern Copper had a net margin of 27.67% and a return on equity of 37.11%. Equities analysts anticipate that Southern Copper Co. will post 4.38 earnings per share for the current fiscal year.
Southern Copper Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Tuesday, February 11th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.87%. This is an increase from Southern Copper’s previous quarterly dividend of $0.60. The ex-dividend date is Tuesday, February 11th. Southern Copper’s dividend payout ratio (DPR) is presently 72.09%.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. upgraded shares of Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price objective on the stock in a research note on Monday, December 2nd. Morgan Stanley raised shares of Southern Copper from an “underweight” rating to an “equal weight” rating and lowered their price target for the stock from $106.30 to $102.00 in a report on Thursday, December 12th. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $94.81.
Check Out Our Latest Research Report on Southern Copper
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.
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