Southern Copper Corporation $SCCO Stock Holdings Cut by Jamison Private Wealth Management Inc.

Jamison Private Wealth Management Inc. cut its position in shares of Southern Copper Corporation (NYSE:SCCO) by 28.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 50,348 shares of the basic materials company’s stock after selling 19,931 shares during the quarter. Jamison Private Wealth Management Inc.’s holdings in Southern Copper were worth $8,663,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Keybank National Association OH bought a new position in Southern Copper during the first quarter valued at about $263,000. Randolph Co Inc raised its position in Southern Copper by 6.1% in the first quarter. Randolph Co Inc now owns 215,284 shares of the basic materials company’s stock worth $37,042,000 after acquiring an additional 12,414 shares in the last quarter. Root Financial Partners LLC lifted its holdings in Southern Copper by 84.3% in the 1st quarter. Root Financial Partners LLC now owns 527 shares of the basic materials company’s stock valued at $91,000 after acquiring an additional 241 shares during the last quarter. CHICAGO TRUST Co NA lifted its holdings in Southern Copper by 16.9% in the 1st quarter. CHICAGO TRUST Co NA now owns 2,219 shares of the basic materials company’s stock valued at $382,000 after acquiring an additional 320 shares during the last quarter. Finally, SMART Wealth LLC bought a new position in shares of Southern Copper during the 1st quarter valued at about $628,000. Institutional investors own 7.94% of the company’s stock.

Southern Copper Trading Up 1.7%

NYSE:SCCO opened at $171.73 on Friday. The stock has a fifty day simple moving average of $181.85 and a 200 day simple moving average of $179.90. The firm has a market capitalization of $141.86 billion, a price-to-earnings ratio of 28.39, a price-to-earnings-growth ratio of 1.52 and a beta of 1.11. Southern Copper Corporation has a 1-year low of $88.73 and a 1-year 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.

Southern Copper Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Wednesday, May 13th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Wednesday, May 13th. Southern Copper’s dividend payout ratio (DPR) is presently 66.12%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SCCO. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Southern Copper in a research note on Wednesday, June 24th. Morgan Stanley increased their target price on shares of Southern Copper from $155.00 to $160.00 and gave the company an “underweight” rating in a research note on Thursday, April 9th. The Goldman Sachs Group upgraded shares of Southern Copper from a “sell” rating to a “neutral” rating and set a $178.00 target price for the company in a report on Friday, April 10th. Barclays assumed coverage on Southern Copper in a report on Thursday, May 21st. They issued an “underweight” rating and a $148.00 price target on the stock. Finally, Wall Street Zen upgraded Southern Copper from a “hold” rating to a “buy” rating in a research report on Saturday, June 27th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and eight have issued a Sell rating to the company’s stock. According to data from MarketBeat, Southern Copper presently has an average rating of “Reduce” and a consensus price target of $147.19.

Insider Activity at Southern Copper

In other news, Director Bonilla Luis Miguel Palomino sold 200 shares of Southern Copper stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $177.82, for a total value of $35,564.00. Following the transaction, the director directly owned 1,807 shares of the company’s stock, valued at $321,320.74. This trade represents a 9.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 404 shares of company stock valued at $74,108 in the last ninety days. Company insiders own 0.07% of the company’s stock.

Southern Copper Profile

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.