Southern Copper Co. (NYSE:SCCO) Shares Acquired by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. increased its position in shares of Southern Copper Co. (NYSE:SCCO) by 3.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,930 shares of the basic materials company’s stock after buying an additional 336 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Southern Copper were worth $1,164,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Fortis Group Advisors LLC lifted its stake in shares of Southern Copper by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 302 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 151 shares during the last quarter. Riverview Trust Co acquired a new position in Southern Copper in the first quarter valued at about $27,000. Viking Fund Management LLC purchased a new position in Southern Copper during the fourth quarter worth about $31,000. Venturi Wealth Management LLC increased its position in shares of Southern Copper by 164.8% during the fourth quarter. Venturi Wealth Management LLC now owns 482 shares of the basic materials company’s stock valued at $41,000 after acquiring an additional 300 shares during the last quarter. Finally, Washington Trust Advisors Inc. purchased a new stake in shares of Southern Copper in the 4th quarter valued at approximately $45,000. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. JPMorgan Chase & Co. dropped their target price on shares of Southern Copper from $63.50 to $61.00 and set an “underweight” rating for the company in a report on Thursday, March 21st. Jefferies Financial Group upgraded Southern Copper from a “hold” rating to a “buy” rating and boosted their price objective for the company from $91.00 to $130.00 in a report on Friday, March 22nd. CICC Research initiated coverage on Southern Copper in a report on Wednesday, April 24th. They set an “outperform” rating for the company. The Goldman Sachs Group boosted their price target 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, HSBC lowered shares of Southern Copper from a “hold” rating to a “reduce” rating and set a $80.00 price objective for the company. in a research note on Monday, April 22nd. Five analysts have rated the stock with a sell rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $84.50.

Southern Copper Stock Performance

Shares of Southern Copper stock opened at $107.74 on Monday. The business has a 50-day simple moving average of $114.42 and a 200-day simple moving average of $98.99. The company has a debt-to-equity ratio of 0.82, a quick ratio of 2.56 and a current ratio of 3.31. Southern Copper Co. has a one year low of $67.64 and a one year high of $129.79. The company has a market cap of $84.16 billion, a PE ratio of 35.81, a P/E/G ratio of 1.06 and a beta of 1.20.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.77 by $0.17. Southern Copper had a net margin of 24.20% and a return on equity of 30.44%. The company had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.50 billion. On average, equities research analysts forecast that Southern Copper Co. will post 4.45 EPS for the current fiscal year.

Southern Copper Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Wednesday, May 8th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.04%. The ex-dividend date of this dividend was Tuesday, May 7th. Southern Copper’s dividend payout ratio is presently 1.33%.

Insiders Place Their Bets

In other news, Director Bonilla Luis Miguel Palomino sold 300 shares of the stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $118.50, for a total value of $35,550.00. Following the transaction, the director now owns 4,614 shares in the company, valued at approximately $546,759. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Bonilla Luis Miguel Palomino sold 300 shares of the company’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $118.50, for a total value of $35,550.00. Following the completion of the transaction, the director now owns 4,614 shares in the company, valued at approximately $546,759. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director PALOMINO BONILLA LUIS MIGUEL sold 3,600 shares of Southern Copper stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $118.30, for a total transaction of $425,880.00. Following the sale, the director now owns 2,214 shares in the company, valued at $261,916.20. The disclosure for this sale can be found here. Insiders sold 4,100 shares of company stock valued at $483,450 in the last ninety days. Insiders own 0.08% of the company’s stock.

Southern Copper 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.