Southern Copper Corporation $SCCO Holdings Increased by CFC Planning Co LLC

Key Points

• CFC Planning Co LLC increased its Southern Copper stake by 14% in the third quarter to 47,691 shares valued at approximately $9.66 million. Institutional investors and hedge funds collectively own 7.94% of SCCO.
• Analyst sentiment remains cautious: Southern Copper has a consensus rating of “Reduce”, with two Buy, four Hold and seven Sell ratings and an average price target of $160.95.
• Southern Copper reported quarterly EPS of $2.15 and revenue of $4.70 billion, exceeding estimates, while raising its quarterly dividend to $1.30 per share. The company also announced a 1.0106-for-1 stock split scheduled for November 3.

CFC Planning Co LLC grew its position in Southern Copper Corporation (NYSE:SCCO - Free Report) by 14.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 47,691 shares of the basic materials company's stock after acquiring an additional 5,846 shares during the period. Southern Copper comprises 5.2% of CFC Planning Co LLC's portfolio, making the stock its 2nd largest holding. CFC Planning Co LLC's holdings in Southern Copper were worth $9,664,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Plimoth Trust Co. LLC lifted its position in Southern Copper by 0.8% in the second quarter. Plimoth Trust Co. LLC now owns 6,218 shares of the basic materials company's stock valued at $1,084,000 after purchasing an additional 48 shares during the period. Focus Financial Network Inc. raised its stake in shares of Southern Copper by 1.0% during the 3rd quarter. Focus Financial Network Inc. now owns 5,076 shares of the basic materials company's stock worth $1,029,000 after buying an additional 52 shares in the last quarter. Emergent Wealth Advisors LLC lifted its holdings in shares of Southern Copper by 1.0% in the 2nd quarter. Emergent Wealth Advisors LLC now owns 5,366 shares of the basic materials company's stock valued at $935,000 after buying an additional 53 shares during the period. Terra Nova Asset Management LLC lifted its holdings in shares of Southern Copper by 1.4% in the 3rd quarter. Terra Nova Asset Management LLC now owns 3,924 shares of the basic materials company's stock valued at $795,000 after buying an additional 55 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Southern Copper by 1.2% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,250 shares of the basic materials company's stock valued at $1,064,000 after buying an additional 62 shares in the last quarter. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on SCCO shares. Weiss Ratings raised Southern Copper from a "buy (b)" rating to a "buy (b+)" rating in a report on Thursday, October 8th. Wells Fargo & Company set a $193.00 target price on Southern Copper and gave the company an "equal weight" rating in a report on Friday, October 23rd. Morgan Stanley restated an "underweight" rating and set a $170.00 target price on shares of Southern Copper in a research report on Wednesday, October 7th. UBS Group reaffirmed a "sell" rating and set a $180.00 price target (up from $160.00) on shares of Southern Copper in a research note on Thursday, October 8th. Finally, Citigroup reiterated a "positive" rating on shares of Southern Copper in a report on Wednesday, July 15th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and seven have assigned a Sell rating to the company. According to MarketBeat.com, Southern Copper currently has a consensus rating of "Reduce" and a consensus price target of $160.95.

Southern Copper Trading Down 7.4%

Shares of SCCO stock opened at $177.60 on Friday. The stock has a market cap of $148.18 billion, a P/E ratio of 25.10, a P/E/G ratio of 1.77 and a beta of 1.11. The company has a quick ratio of 4.56, a current ratio of 5.06 and a debt-to-equity ratio of 0.63. Southern Copper Corporation has a fifty-two week low of $119.25 and a fifty-two week high of $223.88. The business has a fifty day simple moving average of $200.92 and a 200-day simple moving average of $187.49.

Southern Copper's stock is set to split on the morning of Tuesday, November 3rd. The 1.0106-1 split was recently announced. The newly issued shares will be distributed to shareholders after the closing bell on Monday, November 2nd.

Southern Copper (NYSE:SCCO - Get Free Report) last released its quarterly earnings data on Wednesday, October 21st. The basic materials company reported $2.15 EPS for the quarter, topping the consensus estimate of $2.03 by $0.12. Southern Copper had a net margin of 37.16% and a return on equity of 53.46%. The business had revenue of $4.70 billion for the quarter, compared to analyst estimates of $4.49 billion. During the same period in the previous year, the firm earned $1.35 EPS. On average, analysts forecast that Southern Copper Corporation will post 8.03 earnings per share for the current fiscal year.

Southern Copper Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Tuesday, November 3rd will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 2.9%. This is a boost from Southern Copper's previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Tuesday, November 3rd. Southern Copper's payout ratio is currently 57.59%.

Insider Activity at Southern Copper

In other news, Director Luis Palomino Bonilla sold 202 shares of the stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $196.79, for a total value of $39,751.28. Following the sale, the director directly owned 1,723 shares in the company, valued at $339,066.65. This represents a 10.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 603 shares of company stock valued at $120,213 in the last quarter. 0.07% of the stock is owned by corporate insiders.

Southern Copper Company Profile

Southern Copper Corporation NYSE: SCCO is a mining and metals company engaged primarily in the exploration, development, extraction, processing and production of copper. The company also produces molybdenum, zinc, silver and lead, along with related byproducts. Its operations include open-pit mines, underground mines, concentrators, smelters, refineries and other processing facilities.

Southern Copper operates mainly in Peru and Mexico. Its Peruvian assets include the Toquepala and Cuajone copper mines, while its Mexican operations include the Buenavista del Cobre and La Caridad mines, as well as associated processing and infrastructure facilities.

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