Janney Montgomery Scott LLC Has $23.38 Million Position in Southern Copper Corporation $SCCO

Janney Montgomery Scott LLC trimmed its holdings in shares of Southern Copper Corporation (NYSE:SCCO) by 8.0% in the first quarter, HoldingsChannel reports. The institutional investor owned 135,899 shares of the basic materials company’s stock after selling 11,800 shares during the period. Janney Montgomery Scott LLC’s holdings in Southern Copper were worth $23,383,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. SHP Wealth Management acquired a new stake in shares of Southern Copper in the fourth quarter valued at about $25,000. Lloyd Advisory Services LLC. acquired a new position in Southern Copper during the fourth quarter valued at approximately $29,000. Virtus Advisers LLC bought a new position in Southern Copper in the fourth quarter valued at approximately $29,000. Godfrey Financial Associates Inc. bought a new position in Southern Copper in the fourth quarter valued at approximately $30,000. Finally, IFP Advisors Inc increased its position in shares of Southern Copper by 233.3% during the 4th quarter. IFP Advisors Inc now owns 230 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 161 shares during the last quarter. Institutional investors own 7.94% of the company’s stock.

Wall Street Analyst Weigh In

SCCO has been the topic of a number of analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Southern Copper in a research note on Wednesday, June 24th. UBS Group raised their target price on shares of Southern Copper from $140.00 to $145.00 and gave the company a “sell” rating in a research note on Thursday, May 21st. Morgan Stanley boosted their target price on shares of Southern Copper from $155.00 to $160.00 and gave the stock an “underweight” rating in a report on Thursday, April 9th. Wall Street Zen raised shares of Southern Copper from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Barclays began coverage on shares of Southern Copper in a research note on Thursday, May 21st. They issued an “underweight” rating and a $148.00 price target for the company. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and eight have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $145.94.

Insider Transactions at Southern Copper

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 200 shares of the firm’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $177.82, for a total transaction of $35,564.00. Following the completion of 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 document filed with the SEC, which is available through this hyperlink. Over the last three months, insiders sold 404 shares of company stock worth $74,108. Company insiders own 0.07% of the company’s stock.

Southern Copper Stock Performance

SCCO opened at $168.05 on Tuesday. The company has a quick ratio of 3.89, a current ratio of 4.38 and a debt-to-equity ratio of 0.57. Southern Copper Corporation has a 12-month low of $88.73 and a 12-month high of $223.88. The business has a 50 day moving average of $182.93 and a 200-day moving average of $179.30. The stock has a market cap of $138.82 billion, a price-to-earnings ratio of 27.78, a PEG ratio of 1.54 and a beta of 1.09.

Southern Copper Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Wednesday, May 13th were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Wednesday, May 13th. Southern Copper’s dividend payout ratio is 66.12%.

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.