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

Key Points

• Capital Wealth Planning LLC increased its Southern Copper stake by 26.0% in the fourth quarter, buying 23,853 shares and lifting its total holdings to 115,569 shares valued at about $17.2 million.
• Southern Copper reported better-than-expected quarterly results, with EPS of $1.92 versus estimates of $1.88 and revenue of $4.25 billion versus $3.96 billion expected.
• The company paid a quarterly dividend of $1.00 per share, equal to an annualized yield of 2.4%, while analysts currently rate the stock a consensus “Reduce” with an average price target of $145.14.

Capital Wealth Planning LLC grew its holdings in shares of Southern Copper Corporation (NYSE:SCCO - Free Report) by 26.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 115,569 shares of the basic materials company's stock after buying an additional 23,853 shares during the period. Capital Wealth Planning LLC's holdings in Southern Copper were worth $17,184,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of SCCO. Capital World Investors boosted its holdings in shares of Southern Copper by 36.1% during the 3rd quarter. Capital World Investors now owns 6,437,608 shares of the basic materials company's stock worth $781,268,000 after buying an additional 1,708,693 shares in the last quarter. Norges Bank bought a new position in shares of Southern Copper during the 4th quarter worth approximately $97,645,000. Capital Research Global Investors bought a new position in shares of Southern Copper in the 4th quarter worth $81,039,000. Axiom Investors LLC DE lifted its holdings in shares of Southern Copper by 136.5% in the 4th quarter. Axiom Investors LLC DE now owns 379,991 shares of the basic materials company's stock worth $54,517,000 after purchasing an additional 219,316 shares in the last quarter. Finally, Man Group plc lifted its holdings in shares of Southern Copper by 65.4% in the 2nd quarter. Man Group plc now owns 467,119 shares of the basic materials company's stock worth $47,258,000 after purchasing an additional 184,641 shares in the last quarter. 7.94% of the stock is currently owned by institutional investors.

Southern Copper Price Performance

Shares of NYSE:SCCO opened at $167.59 on Thursday. The company has a current ratio of 4.38, a quick ratio of 3.89 and a debt-to-equity ratio of 0.57. The stock's fifty day simple moving average is $182.95 and its two-hundred day simple moving average is $174.69. Southern Copper Corporation has a 1-year low of $88.73 and a 1-year high of $223.88. The stock has a market cap of $137.27 billion, a PE ratio of 27.70, a price-to-earnings-growth ratio of 1.65 and a beta of 1.09.

Southern Copper (NYSE:SCCO - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The basic materials company reported $1.92 earnings per share for the quarter, beating the consensus estimate 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, analysts forecast that Southern Copper Corporation will post 7.25 EPS for the current fiscal year.

Southern Copper Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Wednesday, May 13th were paid a dividend of $1.00 per share. The ex-dividend date was Wednesday, May 13th. This represents a $4.00 annualized dividend and a yield of 2.4%. Southern Copper's dividend payout ratio (DPR) is 66.12%.

Insiders Place Their Bets

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 200 shares of the firm's stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $177.82, for a total transaction of $35,564.00. Following the transaction, the director directly owned 1,807 shares in the company, valued at approximately $321,320.74. This trade represents a 9.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders sold 597 shares of company stock worth $107,806. 0.07% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SCCO. The Goldman Sachs Group upgraded Southern Copper from a "sell" rating to a "neutral" rating and set a $178.00 target price on the stock in a report on Friday, April 10th. UBS Group increased their target price on Southern Copper from $140.00 to $145.00 and gave the stock a "sell" rating in a report on Thursday, May 21st. Weiss Ratings reiterated a "buy (b)" rating on shares of Southern Copper in a report on Friday, March 27th. Wall Street Zen cut Southern Copper from a "buy" rating to a "hold" rating in a report on Saturday, May 16th. Finally, JPMorgan Chase & Co. increased their target price on Southern Copper from $117.50 to $127.00 and gave the stock an "underweight" rating in a report on Friday, April 10th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and eight have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Reduce" and an average price target of $145.14.

Southern Copper Profile

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.

Want to see what other hedge funds are holding SCCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Southern Copper Corporation (NYSE:SCCO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.