Southern Copper Co. (NYSE:SCCO) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN decreased its holdings in Southern Copper Co. (NYSE:SCCO - Free Report) by 18.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 187,126 shares of the basic materials company's stock after selling 42,587 shares during the period. Wells Fargo & Company MN's holdings in Southern Copper were worth $17,053,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its position in shares of Southern Copper by 74.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,402,983 shares of the basic materials company's stock worth $162,283,000 after buying an additional 599,610 shares during the last quarter. Norges Bank acquired a new stake in Southern Copper in the fourth quarter valued at approximately $52,738,000. Wealthfront Advisers LLC purchased a new position in Southern Copper in the fourth quarter worth $15,197,000. Axiom Investors LLC DE acquired a new position in shares of Southern Copper during the fourth quarter worth $14,617,000. Finally, abrdn plc lifted its holdings in shares of Southern Copper by 4.4% during the 4th quarter. abrdn plc now owns 2,849,638 shares of the basic materials company's stock valued at $260,428,000 after purchasing an additional 118,909 shares during the last quarter. Hedge funds and other institutional investors own 7.94% of the company's stock.

Southern Copper Stock Performance

Shares of NYSE:SCCO traded up $0.28 during trading on Friday, hitting $86.47. The stock had a trading volume of 1,058,290 shares, compared to its average volume of 1,224,272. The company has a quick ratio of 2.31, a current ratio of 2.77 and a debt-to-equity ratio of 0.64. Southern Copper Co. has a 12-month low of $74.84 and a 12-month high of $127.34. The stock has a market capitalization of $68.84 billion, a price-to-earnings ratio of 20.01, a price-to-earnings-growth ratio of 1.90 and a beta of 1.04. The stock has a 50-day simple moving average of $91.25 and a two-hundred day simple moving average of $98.21.

Southern Copper (NYSE:SCCO - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The basic materials company reported $1.01 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.01). Southern Copper had a net margin of 29.53% and a return on equity of 40.27%. On average, equities research analysts expect that Southern Copper Co. will post 4.66 earnings per share for the current fiscal year.

Southern Copper Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Tuesday, February 11th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.24%. The ex-dividend date was Tuesday, February 11th. This is a boost from Southern Copper's previous quarterly dividend of $0.60. Southern Copper's payout ratio is 64.81%.

Analysts Set New Price Targets

Several brokerages recently issued reports on SCCO. Scotiabank upped their target price on Southern Copper from $52.00 to $72.00 and gave the company a "sector underperform" rating in a research report on Monday, March 10th. JPMorgan Chase & Co. decreased their price objective on shares of Southern Copper from $84.00 to $83.50 and set a "neutral" rating for the company in a research report on Monday. Finally, UBS Group lowered their target price on shares of Southern Copper from $120.00 to $100.00 and set a "buy" rating for the company in a research note on Tuesday. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Southern Copper has an average rating of "Hold" and a consensus price target of $89.58.

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.