Quadrant Private Wealth Management LLC Has $2.32 Million Position in Southern Copper Co. (NYSE:SCCO)

Quadrant Private Wealth Management LLC grew its holdings in shares of Southern Copper Co. (NYSE:SCCO) by 28.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,411 shares of the basic materials company’s stock after acquiring an additional 5,594 shares during the period. Quadrant Private Wealth Management LLC’s holdings in Southern Copper were worth $2,316,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Fisher Asset Management LLC lifted its position in Southern Copper by 10.6% in the 3rd quarter. Fisher Asset Management LLC now owns 2,963,572 shares of the basic materials company’s stock valued at $342,796,000 after acquiring an additional 283,562 shares in the last quarter. abrdn plc lifted its position in Southern Copper by 4.4% in the 4th quarter. abrdn plc now owns 2,849,638 shares of the basic materials company’s stock valued at $260,428,000 after acquiring an additional 118,909 shares in the last quarter. State Street Corp lifted its position in Southern Copper by 1.0% in the 3rd quarter. State Street Corp now owns 2,728,802 shares of the basic materials company’s stock valued at $315,641,000 after acquiring an additional 27,358 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Southern Copper by 74.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,402,983 shares of the basic materials company’s stock valued at $162,283,000 after acquiring an additional 599,610 shares in the last quarter. Finally, Empower Advisory Group LLC lifted its position in Southern Copper by 3.3% in the 3rd quarter. Empower Advisory Group LLC now owns 1,004,060 shares of the basic materials company’s stock valued at $116,140,000 after acquiring an additional 32,314 shares in the last quarter. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SCCO has been the topic of several recent research reports. JPMorgan Chase & Co. raised shares of Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price target on the stock in a research report on Monday, December 2nd. Morgan Stanley raised shares of Southern Copper from an “underweight” rating to an “equal weight” rating and dropped their target price for the stock from $106.30 to $102.00 in a research report on Thursday, December 12th. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $94.81.

Southern Copper Stock Down 0.4 %

Southern Copper stock opened at $97.41 on Friday. Southern Copper Co. has a 1-year low of $78.82 and a 1-year high of $129.79. The firm has a market capitalization of $76.52 billion, a price-to-earnings ratio of 25.08, a P/E/G ratio of 1.85 and a beta of 1.13. The company has a current ratio of 2.77, a quick ratio of 2.31 and a debt-to-equity ratio of 0.64. The firm has a 50 day simple moving average of $95.30 and a 200 day simple moving average of $102.10.

Southern Copper (NYSE:SCCO) last released its quarterly earnings data on Wednesday, February 12th. The basic materials company reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.01). Southern Copper had a net margin of 27.67% and a return on equity of 37.11%. On average, analysts predict that Southern Copper Co. will post 4.38 earnings per share for the current year.

Southern Copper Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Tuesday, February 11th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.87%. This is a positive change from Southern Copper’s previous quarterly dividend of $0.60. The ex-dividend date is Tuesday, February 11th. Southern Copper’s payout ratio is currently 72.09%.

About Southern Copper

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.