Triad Wealth Partners LLC Sells 117 Shares of Southern Copper Corporation $SCCO

Triad Wealth Partners LLC decreased its holdings in Southern Copper Corporation (NYSE:SCCO) by 5.1% in the second quarter, according to the company in its most recent 13F 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 period. Triad Wealth Partners LLC’s holdings in Southern Copper were worth $221,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Generali Investments CEE investicni spolecnost a.s. increased 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 grew its holdings in shares of Southern Copper by 1.1% in the second quarter. American Financial Advisors LLC now owns 10,422 shares of the basic materials company’s stock worth $1,054,000 after acquiring an additional 112 shares during the period. IFM Investors Pty Ltd grew its holdings in shares of Southern Copper by 1.0% in the second quarter. IFM Investors Pty Ltd now owns 12,725 shares of the basic materials company’s stock worth $1,287,000 after acquiring an additional 124 shares during the period. Zurich Insurance Group Ltd FI grew its holdings in shares of Southern Copper by 0.7% in the first quarter. Zurich Insurance Group Ltd FI now owns 17,331 shares of the basic materials company’s stock worth $1,620,000 after acquiring an additional 125 shares during the period. Finally, Balefire LLC grew its holdings in shares of Southern Copper by 3.0% in the first quarter. Balefire LLC now owns 4,779 shares of the basic materials company’s stock worth $447,000 after acquiring an additional 141 shares during the period. Institutional investors own 7.94% of the company’s stock.

Southern Copper Price Performance

Shares of Southern Copper stock opened at $128.46 on Friday. The stock’s 50-day simple moving average is $102.99 and its 200-day simple moving average is $96.95. Southern Copper Corporation has a 52 week low of $74.84 and a 52 week high of $129.83. The company 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. The company has a quick ratio of 4.51, a current ratio of 5.27 and a debt-to-equity ratio of 0.67.

Southern Copper Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Friday, August 15th were given a $1.01 dividend. This is an increase from Southern Copper’s previous quarterly dividend of $0.62. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Friday, August 15th. Southern Copper’s dividend payout ratio (DPR) is presently 70.02%.

Analysts Set New Price Targets

Several analysts recently commented on the company. The Goldman Sachs Group set a $89.00 price objective on Southern Copper and gave the stock a “sell” rating in a report on Wednesday, September 17th. Itau BBA Securities raised Southern Copper from an “underperform” rating to a “market perform” rating in a report on Wednesday, June 11th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Southern Copper in a report on Saturday, September 27th. Morgan Stanley reaffirmed an “underweight” rating and issued a $99.00 price objective (up previously from $86.00) on shares of Southern Copper in a report on Tuesday, July 15th. Finally, UBS Group reissued a “buy” rating on shares of Southern Copper in a report on Friday, September 19th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Southern Copper has a consensus rating of “Reduce” and a consensus target price of $92.40.

Insider Activity at Southern Copper

In related news, Director Bonilla Luis Miguel Palomino sold 414 shares of the business’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $100.00, for a total value of $41,400.00. Following the sale, the director directly owned 2,327 shares in the company, valued at approximately $232,700. The trade was a 15.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 1,228 shares of company stock valued at $123,102 in the last quarter. 0.07% of the stock is currently owned by insiders.

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.