Capital Wealth Planning LLC Grows Stock Holdings in Southern Copper Corporation $SCCO

Key Points

• Capital Wealth Planning LLC increased its stake in Southern Copper by 107.6% in Q3 to 91,716 shares, valued at about $11.13 million.
• Analyst sentiment is weak with a consensus rating of "Reduce" (2 Buy, 3 Hold, 8 Sell) and an average price target of $139.99.
• A director sold 9,326 shares on Feb. 3 for roughly $1.95 million (cutting his holding ~93.9%), and Southern Copper raised its quarterly dividend to $1.00 (annualized $4.00, yield 2.3%).

Capital Wealth Planning LLC grew its stake in Southern Copper Corporation (NYSE:SCCO - Free Report) by 107.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,716 shares of the basic materials company's stock after acquiring an additional 47,542 shares during the period. Capital Wealth Planning LLC's holdings in Southern Copper were worth $11,131,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Hopwood Financial Services Inc. bought a new position in Southern Copper in the third quarter worth approximately $25,000. MJT & Associates Financial Advisory Group Inc. raised its position in Southern Copper by 65.1% during the 3rd quarter. MJT & Associates Financial Advisory Group Inc. now owns 213 shares of the basic materials company's stock valued at $26,000 after purchasing an additional 84 shares in the last quarter. United Community Bank bought a new stake in Southern Copper during the 3rd quarter valued at $30,000. Caitlin John LLC purchased a new stake in shares of Southern Copper in the 3rd quarter worth $30,000. Finally, Allworth Financial LP lifted its holdings in shares of Southern Copper by 65.1% in the 2nd quarter. Allworth Financial LP now owns 383 shares of the basic materials company's stock worth $39,000 after buying an additional 151 shares during the period. Institutional investors own 7.94% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Wall Street Zen lowered Southern Copper from a "buy" rating to a "hold" rating in a research note on Sunday, March 1st. Zacks Research lowered shares of Southern Copper from a "strong-buy" rating to a "hold" rating in a research note on Monday, December 8th. Scotiabank reiterated an "underperform" rating on shares of Southern Copper in a report on Tuesday, January 27th. JPMorgan Chase & Co. restated an "underweight" rating and issued a $116.51 price target (down from $118.49) on shares of Southern Copper in a report on Friday, January 23rd. Finally, Itau BBA Securities cut shares of Southern Copper from a "market perform" rating to an "underperform" rating and set a $124.94 price target for the company. in a research report on Monday, December 22nd. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and eight have issued a Sell rating to the stock. According to MarketBeat.com, Southern Copper currently has a consensus rating of "Reduce" and an average target price of $139.99.

Insider Activity at Southern Copper

In other news, Director Lerdo De Tejada Leon Contreras sold 9,326 shares of the firm's stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $209.56, for a total value of $1,954,344.91. Following the sale, the director directly owned 605 shares in the company, valued at approximately $126,783.04. This trade represents a 93.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.07% of the company's stock.

Southern Copper Trading Down 5.3%

SCCO opened at $171.05 on Friday. The company has a current ratio of 3.89, a quick ratio of 3.40 and a debt-to-equity ratio of 0.61. The firm has a market cap of $138.92 billion, a price-to-earnings ratio of 32.15, a PEG ratio of 1.86 and a beta of 1.03. Southern Copper Corporation has a 12 month low of $74.84 and a 12 month high of $223.88. The stock has a fifty day moving average price of $190.66 and a 200-day moving average price of $148.84.

Southern Copper Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Tuesday, February 10th were issued a $1.00 dividend. This is a boost from Southern Copper's previous quarterly dividend of $0.90. This represents a $4.00 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Tuesday, February 10th. Southern Copper's dividend payout ratio is presently 75.19%.

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.

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