Janney Montgomery Scott LLC Boosts Stake in Southern Copper Co. (NYSE:SCCO)

Janney Montgomery Scott LLC increased its position in Southern Copper Co. (NYSE:SCCO) by 2.0% in the fourth quarter, HoldingsChannel reports. The firm owned 176,918 shares of the basic materials company’s stock after purchasing an additional 3,499 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Southern Copper were worth $16,123,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. SG Americas Securities LLC lifted its position in Southern Copper by 1,322.7% during the fourth quarter. SG Americas Securities LLC now owns 99,606 shares of the basic materials company’s stock valued at $9,077,000 after buying an additional 92,605 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of Southern Copper by 0.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 24,426 shares of the basic materials company’s stock worth $2,226,000 after acquiring an additional 144 shares in the last quarter. Atomi Financial Group Inc. lifted its position in Southern Copper by 1.5% during the 4th quarter. Atomi Financial Group Inc. now owns 9,509 shares of the basic materials company’s stock valued at $867,000 after acquiring an additional 145 shares during the period. MassMutual Private Wealth & Trust FSB boosted its stake in Southern Copper by 30.7% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 893 shares of the basic materials company’s stock worth $81,000 after acquiring an additional 210 shares in the last quarter. Finally, RoundAngle Advisors LLC bought a new position in shares of Southern Copper during the fourth quarter valued at approximately $1,200,000. 7.94% of the stock is currently owned by institutional investors.

Southern Copper Trading Down 0.7 %

Southern Copper stock opened at $96.52 on Friday. Southern Copper Co. has a one year low of $77.42 and a one year high of $129.79. The business’s fifty day moving average is $97.37 and its 200 day moving average is $103.61. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.77 and a quick ratio of 2.31. The stock has a market capitalization of $75.82 billion, a PE ratio of 24.85, a price-to-earnings-growth ratio of 1.92 and a beta of 1.14.

Southern Copper Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Tuesday, February 11th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Monday, February 10th. This is a positive change from Southern Copper’s previous quarterly dividend of $0.60. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.90%. Southern Copper’s payout ratio is currently 72.09%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Citigroup boosted their price target on Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a research report on Wednesday, October 2nd. Morgan Stanley raised Southern Copper from an “underweight” rating to an “equal weight” rating and cut their target price for the stock from $106.30 to $102.00 in a research note on Thursday, December 12th. Scotiabank reduced their price target on Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating for the company in a report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. upgraded shares of Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price target on the stock in a research note on Monday, December 2nd. Four research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Southern Copper has an average rating of “Hold” and a consensus price target of $94.81.

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.