Southern Copper Corporation $SCCO Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC trimmed its position in Southern Copper Corporation (NYSE:SCCO) by 12.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 165,142 shares of the basic materials company’s stock after selling 22,828 shares during the period. Janney Montgomery Scott LLC’s holdings in Southern Copper were worth $16,708,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of SCCO. GAMMA Investing LLC boosted its holdings in Southern Copper by 12,538.1% in the 1st quarter. GAMMA Investing LLC now owns 84,675 shares of the basic materials company’s stock worth $7,914,000 after buying an additional 84,005 shares during the last quarter. Rhumbline Advisers boosted its holdings in Southern Copper by 0.4% in the 1st quarter. Rhumbline Advisers now owns 180,936 shares of the basic materials company’s stock worth $16,911,000 after buying an additional 660 shares during the last quarter. Merit Financial Group LLC boosted its holdings in shares of Southern Copper by 15.8% during the 1st quarter. Merit Financial Group LLC now owns 14,061 shares of the basic materials company’s stock worth $1,314,000 after purchasing an additional 1,920 shares during the last quarter. Veracity Capital LLC boosted its holdings in shares of Southern Copper by 14.3% during the 1st quarter. Veracity Capital LLC now owns 3,214 shares of the basic materials company’s stock worth $300,000 after purchasing an additional 403 shares during the last quarter. Finally, Parsons Capital Management Inc. RI boosted its holdings in shares of Southern Copper by 0.6% during the 1st quarter. Parsons Capital Management Inc. RI now owns 26,017 shares of the basic materials company’s stock worth $2,432,000 after purchasing an additional 152 shares during the last quarter. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Southern Copper Stock Performance

NYSE SCCO opened at $125.41 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 5.27 and a quick ratio of 4.51. Southern Copper Corporation has a 1 year low of $74.84 and a 1 year high of $125.58. The company has a market capitalization of $100.84 billion, a PE ratio of 27.44, a P/E/G ratio of 1.25 and a beta of 1.02. The company has a fifty day moving average of $102.38 and a two-hundred day moving average of $96.77.

Southern Copper Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Friday, August 15th were paid a $1.01 dividend. This is a boost from Southern Copper’s previous quarterly dividend of $0.62. This represents a $4.04 annualized dividend and a yield of 3.2%. The ex-dividend date was Friday, August 15th. Southern Copper’s payout ratio is currently 70.02%.

Insider Transactions at Southern Copper

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 414 shares of the company’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $100.00, for a total value of $41,400.00. Following the completion of the transaction, the director owned 2,327 shares in the company, valued at $232,700. This represents a 15.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold a total of 1,228 shares of company stock valued at $123,102 in the last three months. Corporate insiders own 0.07% of the company’s stock.

Wall Street Analysts Forecast Growth

SCCO has been the topic of several recent research reports. JPMorgan Chase & Co. boosted their target price on Southern Copper from $79.00 to $92.00 and gave the stock a “neutral” rating in a report on Wednesday, September 3rd. The Goldman Sachs Group set a $89.00 target price on Southern Copper and gave the stock a “sell” rating in a report on Wednesday, September 17th. Morgan Stanley restated an “underweight” rating and set a $99.00 target price (up from $86.00) on shares of Southern Copper in a report on Tuesday, July 15th. Itau BBA Securities upgraded Southern Copper from an “underperform” rating to a “market perform” rating in a report on Wednesday, June 11th. Finally, UBS Group reiterated a “buy” rating on shares of Southern Copper in a report on Friday, September 19th. Four analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $92.40.

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.