Janney Montgomery Scott LLC Purchases 11,052 Shares of Southern Copper Corporation (NYSE:SCCO)

Janney Montgomery Scott LLC lifted its position in Southern Copper Corporation (NYSE:SCCO - Free Report) by 6.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 187,970 shares of the basic materials company's stock after acquiring an additional 11,052 shares during the quarter. Janney Montgomery Scott LLC's holdings in Southern Copper were worth $17,568,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Empowered Funds LLC boosted its holdings in shares of Southern Copper by 44.3% in the 4th quarter. Empowered Funds LLC now owns 5,685 shares of the basic materials company's stock valued at $518,000 after buying an additional 1,744 shares during the period. Savant Capital LLC bought a new stake in Southern Copper during the 4th quarter valued at $226,000. Asset Management One Co. Ltd. raised its stake in shares of Southern Copper by 15.4% during the fourth quarter. Asset Management One Co. Ltd. now owns 15,763 shares of the basic materials company's stock valued at $1,469,000 after purchasing an additional 2,108 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Southern Copper by 1.8% during the 4th quarter. Principal Financial Group Inc. now owns 9,867 shares of the basic materials company's stock worth $899,000 after buying an additional 174 shares in the last quarter. Finally, CIBC Asset Management Inc raised its holdings in Southern Copper by 6.3% during the fourth quarter. CIBC Asset Management Inc now owns 26,051 shares of the basic materials company's stock worth $2,374,000 after purchasing an additional 1,548 shares in the last quarter. Institutional investors and hedge funds own 7.94% of the company's stock.

Southern Copper Stock Performance

Shares of SCCO traded down $0.11 during trading hours on Thursday, reaching $95.22. 767,453 shares of the company traded hands, compared to its average volume of 1,176,899. Southern Copper Corporation has a 1-year low of $74.11 and a 1-year high of $118.64. The stock has a market cap of $75.81 billion, a P/E ratio of 20.84, a price-to-earnings-growth ratio of 2.30 and a beta of 1.01. The stock's fifty day moving average is $91.54 and its 200 day moving average is $93.21. The company has a debt-to-equity ratio of 0.70, a quick ratio of 3.22 and a current ratio of 3.71.

Southern Copper (NYSE:SCCO - Get Free Report) last announced its quarterly earnings data on Friday, April 25th. The basic materials company reported $1.19 EPS for the quarter, topping analysts' consensus estimates of $1.05 by $0.14. The company had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.05 billion. Southern Copper had a return on equity of 39.39% and a net margin of 30.00%. Equities research analysts anticipate that Southern Copper Corporation will post 4.66 earnings per share for the current fiscal year.

Southern Copper Announces Dividend

The firm also recently declared a dividend, which was paid on Monday, May 19th. Shareholders of record on Monday, May 5th were paid a dividend of $0.70 per share. The ex-dividend date was Friday, May 2nd. This represents a yield of 2.98%. Southern Copper's dividend payout ratio is currently 61.27%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Wall Street Zen downgraded Southern Copper from a "buy" rating to a "hold" rating in a research report on Tuesday, May 20th. JPMorgan Chase & Co. lowered their target price on Southern Copper from $84.00 to $83.50 and set a "neutral" rating on the stock in a research note on Monday, April 14th. UBS Group reduced their price objective on shares of Southern Copper from $120.00 to $100.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Itau BBA Securities raised shares of Southern Copper from an "underperform" rating to a "market perform" rating in a research report on Wednesday, June 11th. Finally, Scotiabank raised their target price on Southern Copper from $52.00 to $72.00 and gave the company a "sector underperform" rating in a report on Monday, March 10th. Two analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $91.50.

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.