Triad Wealth Partners LLC Cuts Stock Position in Southern Copper Corporation $SCCO

Triad Wealth Partners LLC reduced its position in Southern Copper Corporation (NYSE:SCCO) by 5.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,188 shares of the basic materials company’s stock after selling 117 shares during the quarter. Triad Wealth Partners LLC’s holdings in Southern Copper were worth $221,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Generali Investments CEE investicni spolecnost a.s. boosted its holdings in shares of Southern Copper by 0.7% in the 1st quarter. Generali Investments CEE investicni spolecnost a.s. now owns 15,077 shares of the basic materials company’s stock worth $1,409,000 after purchasing an additional 108 shares in the last quarter. American Financial Advisors LLC boosted its holdings in shares of Southern Copper by 1.1% in the 2nd quarter. American Financial Advisors LLC now owns 10,422 shares of the basic materials company’s stock worth $1,054,000 after purchasing an additional 112 shares in the last quarter. IFM Investors Pty Ltd boosted its holdings in shares of Southern Copper by 1.0% in the 2nd quarter. IFM Investors Pty Ltd now owns 12,725 shares of the basic materials company’s stock worth $1,287,000 after purchasing an additional 124 shares in the last quarter. Zurich Insurance Group Ltd FI boosted its holdings in shares of Southern Copper by 0.7% in the 1st quarter. Zurich Insurance Group Ltd FI now owns 17,331 shares of the basic materials company’s stock worth $1,620,000 after purchasing an additional 125 shares in the last quarter. Finally, Balefire LLC boosted its holdings in Southern Copper by 3.0% during the 1st quarter. Balefire LLC now owns 4,779 shares of the basic materials company’s stock valued at $447,000 after acquiring an additional 141 shares during the period. 7.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SCCO has been the subject of several analyst reports. The Goldman Sachs Group set a $89.00 target price on Southern Copper and gave the company a “sell” rating in a report on Wednesday, September 17th. JPMorgan Chase & Co. increased their target price on Southern Copper from $79.00 to $92.00 and gave the company a “neutral” rating in a report on Wednesday, September 3rd. Itau BBA Securities upgraded Southern Copper from an “underperform” rating to a “market perform” rating in a report on Wednesday, June 11th. Morgan Stanley restated an “underweight” rating and set a $99.00 target price (up from $86.00) on shares of Southern Copper in a report on Tuesday, July 15th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Southern Copper in a report on Saturday, September 27th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Southern Copper presently has an average rating of “Reduce” and a consensus target price of $92.40.

Insider Activity at Southern Copper

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 414 shares of Southern Copper stock in a transaction on Friday, August 8th. The stock was sold at an average price of $100.00, for a total value of $41,400.00. Following the completion of the sale, the director owned 2,327 shares of the company’s stock, valued at approximately $232,700. This trade represents a 15.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders sold 1,228 shares of company stock valued at $123,102. 0.07% of the stock is currently owned by company insiders.

Southern Copper Stock Up 2.5%

Shares of NYSE:SCCO opened at $128.46 on Friday. The stock has a fifty day simple moving average of $102.99 and a two-hundred day simple moving average of $96.95. The stock has a market capitalization of $103.29 billion, a price-to-earnings ratio of 28.11, a PEG ratio of 1.31 and a beta of 1.02. Southern Copper Corporation has a 12-month low of $74.84 and a 12-month high of $129.83. The company has a current ratio of 5.27, a quick ratio of 4.51 and a debt-to-equity ratio of 0.67.

Southern Copper Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Friday, August 15th were issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Friday, August 15th. This is a positive change from Southern Copper’s previous quarterly dividend of $0.62. Southern Copper’s dividend payout ratio is 70.02%.

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.