Truist Financial Corp Cuts Stock Position in Southern Copper Co. (NYSE:SCCO)

Truist Financial Corp decreased its holdings in Southern Copper Co. (NYSE:SCCO) by 5.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 34,619 shares of the basic materials company’s stock after selling 1,951 shares during the quarter. Truist Financial Corp’s holdings in Southern Copper were worth $3,155,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Creative Financial Designs Inc. ADV raised its position in Southern Copper by 172.0% in the third quarter. Creative Financial Designs Inc. ADV now owns 223 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 141 shares in the last quarter. Prospera Private Wealth LLC purchased a new position in Southern Copper in the third quarter worth $47,000. Larson Financial Group LLC raised its position in Southern Copper by 578.3% in the third quarter. Larson Financial Group LLC now owns 407 shares of the basic materials company’s stock worth $47,000 after acquiring an additional 347 shares in the last quarter. Spire Wealth Management purchased a new position in Southern Copper in the fourth quarter worth $47,000. Finally, Stonebridge Financial Group LLC purchased a new position in Southern Copper in the fourth quarter worth $51,000. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Southern Copper Trading Up 0.1 %

Shares of SCCO stock opened at $92.96 on Tuesday. The company has a quick ratio of 2.31, a current ratio of 2.77 and a debt-to-equity ratio of 0.64. The stock has a market cap of $73.02 billion, a P/E ratio of 21.52, a P/E/G ratio of 1.90 and a beta of 1.13. Southern Copper Co. has a fifty-two week low of $78.82 and a fifty-two week high of $129.79. The business has a fifty day simple moving average of $94.53 and a 200-day simple moving average of $101.88.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings data on Wednesday, February 12th. The basic materials company reported $1.01 EPS for the quarter, missing analysts’ consensus estimates 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, analysts forecast 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 will be paid on Thursday, February 27th. Investors of record on Tuesday, February 11th will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.01%. This is a positive change from Southern Copper’s previous quarterly dividend of $0.60. Southern Copper’s dividend payout ratio (DPR) is presently 64.81%.

Analyst Ratings Changes

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