Quadrant Private Wealth Management LLC Sells 25,999 Shares of Southern Copper Corporation $SCCO

Quadrant Private Wealth Management LLC decreased its position in shares of Southern Copper Corporation (NYSE:SCCO) by 89.0% in the first quarter, HoldingsChannel reports. The firm owned 3,203 shares of the basic materials company’s stock after selling 25,999 shares during the quarter. Quadrant Private Wealth Management LLC’s holdings in Southern Copper were worth $551,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in SCCO. SHP Wealth Management bought a new position in Southern Copper during the fourth quarter valued at approximately $25,000. Lloyd Advisory Services LLC. bought a new stake in Southern Copper in the 4th quarter worth approximately $29,000. Virtus Advisers LLC bought a new stake in Southern Copper in the 4th quarter worth approximately $29,000. Godfrey Financial Associates Inc. purchased a new stake in shares of Southern Copper during the 4th quarter worth approximately $30,000. Finally, IFP Advisors Inc boosted its position in shares of Southern Copper by 233.3% during the 4th quarter. IFP Advisors Inc now owns 230 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 161 shares during the last quarter. 7.94% of the stock is currently owned by hedge funds and other institutional investors.

Southern Copper Stock Performance

NYSE:SCCO opened at $172.22 on Friday. The firm has a market capitalization of $142.26 billion, a PE ratio of 28.47, a PEG ratio of 1.47 and a beta of 1.11. The stock’s fifty day moving average is $181.03 and its 200 day moving average is $181.99. Southern Copper Corporation has a fifty-two week low of $88.73 and a fifty-two week high of $223.88. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.89 and a current ratio of 4.38.

Southern Copper Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Wednesday, May 13th were paid a $1.00 dividend. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $4.00 annualized dividend and a dividend yield of 2.3%. Southern Copper’s dividend payout ratio is currently 66.12%.

Insider Buying and Selling at Southern Copper

In other news, Director Bonilla Luis Miguel Palomino sold 200 shares of the firm’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $177.82, for a total value of $35,564.00. Following the completion of the sale, the director owned 1,807 shares in the company, valued at approximately $321,320.74. This trade represents a 9.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 404 shares of company stock valued at $74,108 over the last quarter. Corporate insiders own 0.07% of the company’s stock.

Analysts Set New Price Targets

SCCO has been the subject of a number of recent research reports. Barclays reissued an “underweight” rating and issued a $160.00 target price (up from $148.00) on shares of Southern Copper in a report on Wednesday. Wall Street Zen upgraded shares of Southern Copper from a “hold” rating to a “buy” rating in a research report on Saturday, June 27th. Weiss Ratings cut shares of Southern Copper from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, July 8th. Scotiabank restated an “underperform” rating and issued a $140.00 target price (up from $135.00) on shares of Southern Copper in a report on Monday, June 15th. Finally, JPMorgan Chase & Co. increased their price target on shares of Southern Copper from $127.00 to $131.50 and gave the company an “underweight” rating in a report on Wednesday, June 17th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have given a Hold rating and seven have given a Sell rating to the stock. According to MarketBeat, Southern Copper has a consensus rating of “Reduce” and a consensus target price of $148.10.

About Southern Copper

Southern Copper Corporation (NYSE: SCCO) is a large, integrated copper producer whose operations span the full value chain from exploration and mining to smelting, refining and the sale of copper and other metal products. The company produces a range of copper products including copper concentrate and refined cathodes, and recovers valuable byproducts such as molybdenum, silver and zinc. Southern Copper concentrates on high-volume, long-life assets designed to support steady production and processing capabilities.

Southern Copper’s operations are concentrated in Peru and Mexico, where it owns and operates multiple large-scale mining and processing facilities.