Southern Copper Co. (NYSE:SCCO) Shares Sold by PDS Planning Inc

PDS Planning Inc reduced its position in shares of Southern Copper Co. (NYSE:SCCO) by 10.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,589 shares of the basic materials company’s stock after selling 305 shares during the period. PDS Planning Inc’s holdings in Southern Copper were worth $223,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of SCCO. CWM LLC grew its holdings in shares of Southern Copper by 3.3% in the fourth quarter. CWM LLC now owns 4,329 shares of the basic materials company’s stock valued at $373,000 after purchasing an additional 137 shares in the last quarter. abrdn plc grew its stake in Southern Copper by 2.3% during the 4th quarter. abrdn plc now owns 3,041,233 shares of the basic materials company’s stock worth $261,759,000 after purchasing an additional 67,930 shares in the last quarter. Vantage Investment Partners LLC increased its holdings in Southern Copper by 1.5% during the 4th quarter. Vantage Investment Partners LLC now owns 171,495 shares of the basic materials company’s stock worth $14,761,000 after purchasing an additional 2,511 shares during the period. Tyche Wealth Partners LLC acquired a new stake in Southern Copper in the 4th quarter valued at about $1,668,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Southern Copper by 6.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 72,240 shares of the basic materials company’s stock valued at $6,218,000 after buying an additional 4,289 shares during the period. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Southern Copper Stock Performance

Shares of SCCO stock opened at $109.66 on Wednesday. The stock’s 50-day moving average price is $97.98 and its 200 day moving average price is $84.90. The company has a quick ratio of 2.46, a current ratio of 3.19 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $84.78 billion, a PE ratio of 34.92, a price-to-earnings-growth ratio of 3.20 and a beta of 1.29. Southern Copper Co. has a 52-week low of $64.66 and a 52-week high of $120.37.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings results on Friday, February 2nd. The basic materials company reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.15). The company had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.37 billion. Southern Copper had a return on equity of 30.85% and a net margin of 24.51%. As a group, equities research analysts forecast that Southern Copper Co. will post 3.95 EPS for the current year.

Southern Copper Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Tuesday, February 13th were issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date of this dividend was Monday, February 12th. Southern Copper’s dividend payout ratio is presently 101.91%.

Analyst Ratings Changes

A number of equities analysts recently commented on SCCO shares. HSBC downgraded shares of Southern Copper from a “hold” rating to a “reduce” rating and set a $80.00 target price for the company. in a research note on Monday. Scotiabank boosted their target price on Southern Copper from $53.00 to $55.00 and gave the stock a “sector underperform” rating in a research note on Thursday, April 18th. StockNews.com downgraded Southern Copper from a “buy” rating to a “hold” rating in a report on Monday, February 5th. Jefferies Financial Group raised shares of Southern Copper from a “hold” rating to a “buy” rating and raised their price objective for the stock from $91.00 to $130.00 in a report on Friday, March 22nd. Finally, The Goldman Sachs Group boosted their price objective on shares of Southern Copper from $61.00 to $82.00 and gave the stock a “sell” rating in a research report on Friday, March 22nd. Five research analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Southern Copper currently has an average rating of “Reduce” and a consensus price target of $76.00.

About Southern Copper

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.