abrdn plc Has $261.76 Million Holdings in Southern Copper Co. (NYSE:SCCO)

abrdn plc grew its stake in Southern Copper Co. (NYSE:SCCO) by 2.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,041,233 shares of the basic materials company’s stock after purchasing an additional 67,930 shares during the period. Southern Copper comprises about 0.6% of abrdn plc’s investment portfolio, making the stock its 28th biggest position. abrdn plc owned about 0.39% of Southern Copper worth $261,759,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in SCCO. Hartford Financial Management Inc. bought a new stake in Southern Copper in the third quarter valued at $25,000. Sanctuary Wealth Management L.L.C. acquired a new stake in shares of Southern Copper during the 4th quarter worth about $27,000. Loomis Sayles & Co. L P bought a new position in Southern Copper during the 1st quarter valued at about $29,000. Viking Fund Management LLC acquired a new position in Southern Copper in the fourth quarter valued at about $31,000. Finally, Venturi Wealth Management LLC grew its stake in Southern Copper by 164.8% during the fourth quarter. Venturi Wealth Management LLC now owns 482 shares of the basic materials company’s stock worth $41,000 after buying an additional 300 shares during the last quarter. Institutional investors own 7.94% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on SCCO. JPMorgan Chase & Co. decreased their price target on Southern Copper from $63.50 to $61.00 and set an “underweight” rating on the stock in a research report on Thursday, March 21st. Jefferies Financial Group raised Southern Copper from a “hold” rating to a “buy” rating and lifted their price target for the company from $91.00 to $130.00 in a report on Friday, March 22nd. StockNews.com lowered shares of Southern Copper from a “buy” rating to a “hold” rating in a report on Monday, February 5th. The Goldman Sachs Group boosted their target price on shares of Southern Copper from $61.00 to $82.00 and gave the stock a “sell” rating in a research note on Friday, March 22nd. Finally, Scotiabank upped their target price on shares of Southern Copper from $53.00 to $55.00 and gave the stock a “sector underperform” rating in a research report on Thursday. Four analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $73.71.

Southern Copper Trading Down 1.7 %

NYSE:SCCO traded down $1.91 on Friday, hitting $113.43. 1,188,516 shares of the stock were exchanged, compared to its average volume of 1,186,562. The company has a debt-to-equity ratio of 0.84, a quick ratio of 2.46 and a current ratio of 3.19. Southern Copper Co. has a 52 week low of $64.66 and a 52 week high of $120.37. The stock has a market capitalization of $87.69 billion, a price-to-earnings ratio of 36.12, a P/E/G ratio of 3.30 and a beta of 1.29. The company’s 50-day moving average price is $96.72 and its 200 day moving average price is $84.21.

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

Southern Copper Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Tuesday, February 13th were paid a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend was Monday, February 12th. Southern Copper’s payout ratio is 101.91%.

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.