Janney Montgomery Scott LLC Sells 11,800 Shares of Southern Copper Corporation $SCCO

Janney Montgomery Scott LLC trimmed its position in Southern Copper Corporation (NYSE:SCCO) by 8.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Capital World Investors increased its stake in Southern Copper by 36.1% in the third quarter. Capital World Investors now owns 6,437,608 shares of the basic materials company’s stock valued at $781,268,000 after purchasing an additional 1,708,693 shares in the last quarter. Norges Bank bought a new position in shares of Southern Copper during the fourth quarter worth $97,645,000. Capital Research Global Investors bought a new position in shares of Southern Copper during the fourth quarter worth $81,039,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Southern Copper in the 4th quarter valued at $46,560,000. Finally, USS Investment Management Ltd grew its holdings in shares of Southern Copper by 904.8% in the 4th quarter. USS Investment Management Ltd now owns 301,655 shares of the basic materials company’s stock valued at $43,272,000 after buying an additional 271,634 shares during the period. Institutional investors own 7.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on SCCO shares. Wall Street Zen raised Southern Copper from a “hold” rating to a “buy” rating in a research note on Saturday. Barclays initiated coverage on Southern Copper in a report on Thursday, May 21st. They set an “underweight” rating and a $148.00 target price on the stock. Morgan Stanley increased their price target on Southern Copper from $155.00 to $160.00 and gave the stock an “underweight” rating in a report on Thursday, April 9th. UBS Group raised their price target on Southern Copper from $140.00 to $145.00 and gave the stock a “sell” rating in a research report on Thursday, May 21st. Finally, The Goldman Sachs Group raised Southern Copper from a “sell” rating to a “neutral” rating and set a $178.00 price target on the stock in a research report on Friday, April 10th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and eight have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $145.94.

Insider Transactions at Southern Copper

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 200 shares of Southern Copper stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $177.82, for a total value of $35,564.00. Following 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last three months, insiders sold 404 shares of company stock worth $74,108. 0.07% of the stock is currently owned by corporate insiders.

Southern Copper Stock Down 1.9%

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

Southern Copper Announces Dividend

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