Janney Montgomery Scott LLC Has $20.06 Million Stock Position in Southern Copper Co. (NYSE:SCCO)

Janney Montgomery Scott LLC grew its holdings in Southern Copper Co. (NYSE:SCCO) by 2.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 173,419 shares of the basic materials company’s stock after purchasing an additional 4,435 shares during the period. Janney Montgomery Scott LLC’s holdings in Southern Copper were worth $20,059,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in SCCO. Pure Financial Advisors LLC acquired a new stake in Southern Copper in the 3rd quarter valued at $217,000. Capital Advisors Inc. OK raised its holdings in Southern Copper by 2.8% during the third quarter. Capital Advisors Inc. OK now owns 264,267 shares of the basic materials company’s stock worth $30,568,000 after acquiring an additional 7,232 shares in the last quarter. Americana Partners LLC boosted its position in Southern Copper by 0.8% during the third quarter. Americana Partners LLC now owns 44,142 shares of the basic materials company’s stock valued at $5,106,000 after purchasing an additional 356 shares during the last quarter. Creative Financial Designs Inc. ADV grew its stake in Southern Copper by 172.0% in the third quarter. Creative Financial Designs Inc. ADV now owns 223 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 141 shares in the last quarter. Finally, Financial Advocates Investment Management increased its position in shares of Southern Copper by 3.5% during the 3rd quarter. Financial Advocates Investment Management now owns 3,808 shares of the basic materials company’s stock worth $440,000 after purchasing an additional 127 shares during the last quarter. Institutional investors own 7.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. 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. Citigroup lifted their price objective on shares of Southern Copper from $99.44 to $100.00 and gave the company a “sell” rating in a research report on Wednesday, October 2nd. Morgan Stanley raised their target price on shares of Southern Copper from $97.00 to $100.00 and gave the company an “underweight” rating in a research note on Thursday, September 19th. Finally, Scotiabank lowered their price target on Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating on the stock in a research report on Tuesday, October 15th. Six analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Southern Copper currently has an average rating of “Hold” and an average price target of $90.63.

Southern Copper Price Performance

Southern Copper stock opened at $114.02 on Wednesday. The company has a market capitalization of $89.07 billion, a price-to-earnings ratio of 29.35, a PEG ratio of 1.13 and a beta of 1.18. The company has a current ratio of 2.77, a quick ratio of 2.31 and a debt-to-equity ratio of 0.64. Southern Copper Co. has a 12 month low of $68.93 and a 12 month high of $129.79. The stock’s 50 day moving average is $108.74 and its 200-day moving average is $109.99.

Southern Copper Dividend Announcement

The company also recently disclosed a — dividend, which will be paid on Thursday, November 21st. Shareholders of record on Wednesday, November 6th will be given a dividend of $0.62 per share. This represents a yield of 2.1%. The ex-dividend date of this dividend is Wednesday, November 6th. Southern Copper’s payout ratio is 61.79%.

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.