Quadrant Capital Group LLC Increases Stock Holdings in Southern Copper Corporation $SCCO

Key Points

• Quadrant Capital Group boosted its stake in Southern Copper by 106.6% in Q3 to 15,398 shares worth $1.87M, while other institutions also increased positions (e.g., Capital World Investors now holds 6,437,608 shares after a 36.1% rise).
• Analyst sentiment is broadly negative: two Buys, three Holds and eight Sells, leaving an average MarketBeat rating of "Reduce" and an average price target of $139.99.
• Southern Copper raised its quarterly dividend to $1.00 (annualized $4.00, ~2.2% yield), even as an insider sold 9,326 shares in February—insiders now own just 0.07% of the stock.

Quadrant Capital Group LLC boosted its stake in Southern Copper Corporation (NYSE:SCCO - Free Report) by 106.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,398 shares of the basic materials company's stock after acquiring an additional 7,944 shares during the period. Quadrant Capital Group LLC's holdings in Southern Copper were worth $1,869,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Capital World Investors raised its holdings in Southern Copper by 36.1% in the 3rd quarter. Capital World Investors now owns 6,437,608 shares of the basic materials company's stock worth $781,268,000 after purchasing an additional 1,708,693 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Southern Copper by 10.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,719,883 shares of the basic materials company's stock valued at $174,002,000 after purchasing an additional 168,005 shares in the last quarter. Empower Advisory Group LLC boosted its stake in shares of Southern Copper by 8.4% during the 2nd quarter. Empower Advisory Group LLC now owns 979,877 shares of the basic materials company's stock valued at $99,134,000 after purchasing an additional 75,653 shares in the last quarter. Legal & General Group Plc increased its position in shares of Southern Copper by 1.5% during the third quarter. Legal & General Group Plc now owns 955,924 shares of the basic materials company's stock valued at $116,012,000 after buying an additional 14,212 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Southern Copper by 11.2% during the third quarter. Vanguard Group Inc. now owns 950,018 shares of the basic materials company's stock valued at $115,294,000 after buying an additional 96,013 shares during the period. 7.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SCCO has been the subject of several research analyst reports. Bank of America lowered shares of Southern Copper from a "neutral" rating to an "underperform" rating and raised their price objective for the stock from $162.00 to $175.00 in a report on Thursday, February 26th. Wells Fargo & Company set a $190.38 target price on Southern Copper and gave the stock an "equal weight" rating in a report on Thursday, January 29th. JPMorgan Chase & Co. reissued an "underweight" rating and issued a $116.51 target price (down from $118.49) on shares of Southern Copper in a research report on Friday, January 23rd. Wall Street Zen cut Southern Copper from a "buy" rating to a "hold" rating in a research note on Sunday, March 1st. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Southern Copper in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and eight have issued a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Reduce" and an average price target of $139.99.

Insider Transactions at Southern Copper

In other Southern Copper news, Director Lerdo De Tejada Leon Contreras sold 9,326 shares of the company's stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $209.56, for a total transaction of $1,954,344.91. Following the transaction, the director owned 605 shares in the company, valued at approximately $126,783.04. This represents a 93.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.07% of the company's stock.

Southern Copper Stock Down 6.0%

SCCO stock opened at $180.53 on Friday. The stock has a market capitalization of $146.62 billion, a P/E ratio of 33.93, a P/E/G ratio of 1.98 and a beta of 1.03. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.89 and a quick ratio of 3.40. Southern Copper Corporation has a 1-year low of $74.84 and a 1-year high of $223.88. The business has a fifty day moving average price of $190.19 and a 200-day moving average price of $148.32.

Southern Copper Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Tuesday, February 10th were given a $1.00 dividend. This is a positive change from Southern Copper's previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Tuesday, February 10th. This represents a $4.00 dividend on an annualized basis and a yield of 2.2%. Southern Copper's payout ratio is presently 75.19%.

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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