CFC Planning Co LLC Boosts Stake in Southern Copper Corporation (NYSE:SCCO)

CFC Planning Co LLC grew its stake in shares of Southern Copper Corporation (NYSE:SCCO - Free Report) by 13.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 29,429 shares of the basic materials company's stock after buying an additional 3,460 shares during the quarter. Southern Copper makes up 3.0% of CFC Planning Co LLC's holdings, making the stock its 9th biggest holding. CFC Planning Co LLC's holdings in Southern Copper were worth $2,750,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SCCO. Golden State Wealth Management LLC acquired a new stake in Southern Copper in the first quarter valued at $29,000. Oppenheimer & Co. Inc. bought a new stake in Southern Copper during the first quarter valued at $337,000. GAMMA Investing LLC boosted its position in Southern Copper by 35.2% during the first quarter. GAMMA Investing LLC now owns 906 shares of the basic materials company's stock valued at $85,000 after acquiring an additional 236 shares during the last quarter. Novem Group boosted its position in Southern Copper by 34.4% during the first quarter. Novem Group now owns 10,758 shares of the basic materials company's stock valued at $1,005,000 after acquiring an additional 2,754 shares during the last quarter. Finally, Teacher Retirement System of Texas bought a new stake in Southern Copper during the first quarter valued at $2,637,000. Institutional investors own 7.94% of the company's stock.

Southern Copper Trading Up 2.3%

SCCO opened at $102.22 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 3.71 and a quick ratio of 3.22. Southern Copper Corporation has a fifty-two week low of $74.11 and a fifty-two week high of $118.64. The firm has a market capitalization of $81.38 billion, a PE ratio of 22.37, a P/E/G ratio of 2.29 and a beta of 1.02. The company's 50-day moving average is $95.35 and its 200 day moving average is $93.43.

Southern Copper (NYSE:SCCO - Get Free Report) last posted its earnings results on Friday, April 25th. The basic materials company reported $1.19 earnings per share for the quarter, topping analysts' consensus estimates of $1.05 by $0.14. Southern Copper had a net margin of 30.00% and a return on equity of 39.39%. The company had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.05 billion. As a group, research analysts predict that Southern Copper Corporation will post 4.66 earnings per share for the current fiscal year.

Southern Copper Announces Dividend

The company also recently disclosed a dividend, which was paid on Monday, May 19th. Shareholders of record on Monday, May 5th were paid a $0.70 dividend. The ex-dividend date was Friday, May 2nd. This represents a yield of 2.98%. Southern Copper's dividend payout ratio (DPR) is 61.27%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SCCO. Hsbc Global Res raised shares of Southern Copper from a "moderate sell" rating to a "hold" rating in a research report on Thursday, April 24th. Itau BBA Securities raised shares of Southern Copper from an "underperform" rating to a "market perform" rating in a research report on Wednesday, June 11th. UBS Group cut shares of Southern Copper from a "buy" rating to a "neutral" rating and set a $105.00 price objective on the stock. in a research report on Tuesday, July 1st. Wall Street Zen cut shares of Southern Copper from a "buy" rating to a "hold" rating in a research report on Tuesday, May 20th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Southern Copper from $83.50 to $79.00 and set a "neutral" rating on the stock in a research report on Thursday, July 3rd. Two analysts have rated the stock with a sell rating and six have issued a hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $91.60.

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.

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