Azzad Asset Management Inc. ADV Sells 11,017 Shares of Southern Copper Co. (NYSE:SCCO)

Azzad Asset Management Inc. ADV trimmed its stake in Southern Copper Co. (NYSE:SCCO) by 28.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,126 shares of the basic materials company’s stock after selling 11,017 shares during the period. Azzad Asset Management Inc. ADV’s holdings in Southern Copper were worth $2,923,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. International Assets Investment Management LLC boosted its stake in Southern Copper by 8,523.8% during the fourth quarter. International Assets Investment Management LLC now owns 172,907 shares of the basic materials company’s stock worth $14,882,000 after buying an additional 170,902 shares in the last quarter. CWM LLC boosted its holdings in Southern Copper by 3.3% during the fourth quarter. CWM LLC now owns 4,329 shares of the basic materials company’s stock valued at $373,000 after purchasing an additional 137 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of Southern Copper by 7.9% in the 4th quarter. Van ECK Associates Corp now owns 252,030 shares of the basic materials company’s stock valued at $21,692,000 after purchasing an additional 18,459 shares during the period. Kestra Private Wealth Services LLC raised its holdings in shares of Southern Copper by 106.4% in the 4th quarter. Kestra Private Wealth Services LLC now owns 7,320 shares of the basic materials company’s stock worth $630,000 after buying an additional 3,773 shares in the last quarter. Finally, First Trust Direct Indexing L.P. bought a new position in shares of Southern Copper during the 4th quarter worth approximately $279,000. Institutional investors own 7.94% of the company’s stock.

Southern Copper Price Performance

Shares of NYSE SCCO traded up $0.29 during trading on Friday, reaching $101.72. The company had a trading volume of 1,331,058 shares, compared to its average volume of 1,169,486. Southern Copper Co. has a 52 week low of $68.93 and a 52 week high of $129.79. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.27 and a current ratio of 2.81. The business’s 50 day moving average price is $106.32 and its 200-day moving average price is $105.70. The stock has a market cap of $79.46 billion, a PE ratio of 33.79, a PEG ratio of 1.06 and a beta of 1.20.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings data on Friday, July 19th. The basic materials company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.09. The firm had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $2.96 billion. Southern Copper had a net margin of 26.15% and a return on equity of 34.98%. Analysts expect that Southern Copper Co. will post 4.33 earnings per share for the current year.

Southern Copper Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.36%. The ex-dividend date was Friday, August 9th. Southern Copper’s dividend payout ratio is 79.73%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. StockNews.com upgraded Southern Copper from a “hold” rating to a “buy” rating in a research report on Wednesday, May 15th. Scotiabank dropped their target price on shares of Southern Copper from $55.00 to $54.00 and set a “sector underperform” rating for the company in a research report on Tuesday, May 21st. Morgan Stanley upped their price objective on shares of Southern Copper from $81.70 to $100.00 and gave the stock an “underweight” rating in a research note on Friday, June 21st. Finally, UBS Group assumed coverage on shares of Southern Copper in a research note on Friday, July 12th. They issued a “neutral” rating and a $120.00 target price for the company. Five research analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $89.57.

Southern Copper Company 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.