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

Hennion & Walsh Asset Management Inc. lowered its holdings in shares of Southern Copper Co. (NYSE:SCCO - Free Report) by 67.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,183 shares of the basic materials company's stock after selling 4,457 shares during the period. Hennion & Walsh Asset Management Inc.'s holdings in Southern Copper were worth $204,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SCCO. Raymond James Financial Inc. acquired a new position in shares of Southern Copper in the fourth quarter valued at approximately $8,420,000. Charles Schwab Investment Management Inc. raised its position in shares of Southern Copper by 2.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 237,437 shares of the basic materials company's stock valued at $21,638,000 after buying an additional 4,889 shares during the last quarter. Bearing Point Capital LLC acquired a new position in shares of Southern Copper in the fourth quarter valued at approximately $257,000. Jump Financial LLC increased its position in Southern Copper by 48.3% during the fourth quarter. Jump Financial LLC now owns 23,353 shares of the basic materials company's stock worth $2,128,000 after purchasing an additional 7,607 shares during the last quarter. Finally, HM Payson & Co. increased its position in Southern Copper by 1,478.3% during the fourth quarter. HM Payson & Co. now owns 3,204 shares of the basic materials company's stock worth $292,000 after purchasing an additional 3,001 shares during the last quarter. Institutional investors and hedge funds own 7.94% of the company's stock.

Wall Street Analysts Forecast Growth

SCCO has been the subject of several research analyst reports. UBS Group dropped their price target on shares of Southern Copper from $120.00 to $100.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Scotiabank upped their price target on shares of Southern Copper from $52.00 to $72.00 and gave the stock a "sector underperform" rating in a research report on Monday, March 10th. Hsbc Global Res raised shares of Southern Copper from a "moderate sell" rating to a "hold" rating in a research report on Thursday, April 24th. Wall Street Zen lowered shares of Southern Copper from a "buy" rating to a "hold" rating in a research report on Tuesday, May 20th. Finally, Itau BBA Securities upgraded shares of Southern Copper from an "underperform" rating to a "market perform" rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $91.50.

Southern Copper Stock Down 1.3%

Shares of SCCO stock traded down $1.25 on Friday, hitting $94.69. The stock had a trading volume of 1,070,982 shares, compared to its average volume of 1,178,007. The firm has a market capitalization of $75.39 billion, a price-to-earnings ratio of 21.92, a P/E/G ratio of 1.90 and a beta of 1.01. The stock's 50 day moving average is $90.29 and its 200-day moving average is $93.32. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.77. Southern Copper Co. has a 52-week low of $74.11 and a 52-week high of $118.64.

Southern Copper (NYSE:SCCO - Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The basic materials company reported $1.19 EPS for the quarter, beating analysts' consensus estimates of $1.05 by $0.14. Southern Copper had a net margin of 29.53% and a return on equity of 40.27%. The firm had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.05 billion. As a group, research analysts expect that Southern Copper Co. will post 4.66 earnings per share for the current year.

Southern Copper Announces Dividend

The business also recently disclosed a dividend, which was paid on Monday, May 19th. Shareholders of record on Monday, May 5th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, May 2nd. This represents a yield of 2.98%. Southern Copper's dividend payout ratio (DPR) is 61.27%.

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.