Southern Copper Co. (NYSE:SCCO) Shares Sold by Choreo LLC

Choreo LLC trimmed its stake in shares of Southern Copper Co. (NYSE:SCCO) by 6.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,621 shares of the basic materials company’s stock after selling 171 shares during the period. Choreo LLC’s holdings in Southern Copper were worth $240,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Fisher Asset Management LLC increased its stake in shares of Southern Copper by 10.6% in the 3rd quarter. Fisher Asset Management LLC now owns 2,963,572 shares of the basic materials company’s stock valued at $342,796,000 after purchasing an additional 283,562 shares in the last quarter. abrdn plc grew its holdings in Southern Copper by 4.4% in the fourth 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 period. State Street Corp increased its position in shares of Southern Copper by 1.0% in the third quarter. State Street Corp now owns 2,728,802 shares of the basic materials company’s stock valued at $315,641,000 after buying an additional 27,358 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Southern Copper by 74.6% during 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 period. Finally, Empower Advisory Group LLC lifted its position in shares of Southern Copper by 3.3% during the 3rd quarter. Empower Advisory Group LLC now owns 1,004,060 shares of the basic materials company’s stock valued at $116,140,000 after buying an additional 32,314 shares in the last quarter. 7.94% of the stock is currently owned by hedge funds and other institutional investors.

Southern Copper Stock Performance

SCCO opened at $97.41 on Friday. The firm has a market capitalization of $76.52 billion, a PE ratio of 25.08, a PEG ratio of 1.85 and a beta of 1.13. The company has a current ratio of 2.77, a quick ratio of 2.31 and a debt-to-equity ratio of 0.64. Southern Copper Co. has a twelve month low of $78.82 and a twelve month high of $129.79. The firm’s 50-day moving average price is $95.30 and its 200 day moving average price is $102.10.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings results on Wednesday, February 12th. The basic materials company reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.01). Southern Copper had a net margin of 27.67% and a return on equity of 37.11%. As a group, sell-side analysts expect that Southern Copper Co. will post 4.38 EPS for the current fiscal year.

Southern Copper Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Tuesday, February 11th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, February 11th. This is an increase from Southern Copper’s previous quarterly dividend of $0.60. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.87%. Southern Copper’s dividend payout ratio (DPR) is 72.09%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. upgraded shares of Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price objective for the company in a research report on Monday, December 2nd. Morgan Stanley upgraded shares of Southern Copper from an “underweight” rating to an “equal weight” rating and reduced their price target for the stock from $106.30 to $102.00 in a research report on Thursday, December 12th. Four analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $94.81.

Southern Copper Company 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.