Azzad Asset Management Inc. ADV Sells 14,881 Shares of Southern Copper Corporation $SCCO

Key Points

• Azzad Asset Management cut its Southern Copper stake by 38.8% in the first quarter, selling 14,881 shares and leaving it with 23,474 shares valued at about $4.04 million.
• Analyst sentiment remains mixed: UBS kept a sell rating, while Wall Street Zen upgraded the stock to buy; overall, MarketBeat shows an average rating of Reduce with a $147.10 target price.
• Southern Copper shares were up 4.3% to $174.43, and the company recently paid a $1.00 quarterly dividend ($4.00 annualized), yielding about 2.3%.

Azzad Asset Management Inc. ADV trimmed its position in Southern Copper Corporation (NYSE:SCCO - Free Report) by 38.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,474 shares of the basic materials company's stock after selling 14,881 shares during the quarter. Azzad Asset Management Inc. ADV's holdings in Southern Copper were worth $4,039,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. SHP Wealth Management purchased a new stake in Southern Copper in the fourth quarter worth approximately $25,000. Lloyd Advisory Services LLC. purchased a new position in shares of Southern Copper in the fourth quarter worth about $29,000. Virtus Advisers LLC bought a new stake in shares of Southern Copper in the 4th quarter valued at about $29,000. Godfrey Financial Associates Inc. purchased a new stake in shares of Southern Copper during the fourth quarter valued at approximately $30,000. Finally, IFP Advisors Inc grew its holdings in Southern Copper by 233.3% in the 4th quarter. IFP Advisors Inc now owns 230 shares of the basic materials company's stock worth $33,000 after acquiring an additional 161 shares during the last quarter. 7.94% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SCCO. UBS Group reaffirmed a "sell" rating and set a $160.00 price objective (up from $145.00) on shares of Southern Copper in a research note on Tuesday, June 30th. Wall Street Zen raised Southern Copper from a "hold" rating to a "buy" rating in a research note on Saturday, June 27th. Barclays assumed coverage on Southern Copper in a research note on Thursday, May 21st. They set an "underweight" rating and a $148.00 target price on the stock. The Goldman Sachs Group upgraded shares of Southern Copper from a "sell" rating to a "neutral" rating and set a $178.00 price target on the stock in a research report on Friday, April 10th. Finally, Wells Fargo & Company increased their price target on shares of Southern Copper from $171.00 to $172.00 and gave the stock an "equal weight" rating in a research note on Thursday. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and eight have assigned a Sell rating to the stock. Based on data from MarketBeat, Southern Copper has an average rating of "Reduce" and an average target price of $147.10.

Southern Copper Stock Up 4.3%

SCCO stock opened at $174.43 on Friday. The company has a quick ratio of 3.89, a current ratio of 4.38 and a debt-to-equity ratio of 0.57. The business has a 50 day moving average of $180.98 and a 200 day moving average of $180.96. Southern Copper Corporation has a twelve month low of $88.73 and a twelve month high of $223.88. The firm has a market cap of $144.09 billion, a PE ratio of 28.83, a price-to-earnings-growth ratio of 1.50 and a beta of 1.11.

Southern Copper Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Wednesday, May 13th were issued a dividend of $1.00 per share. The ex-dividend date was Wednesday, May 13th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.3%. Southern Copper's dividend payout ratio is presently 66.12%.

Insider Buying and Selling

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 transaction of $35,564.00. Following the sale, the director owned 1,807 shares of the company's stock, valued at $321,320.74. This trade represents a 9.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last ninety days, insiders sold 404 shares of company stock valued at $74,108. 0.07% of the stock is currently owned by company insiders.

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.

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