Callan Family Office LLC Makes New $245,000 Investment in Southern Copper Corporation $SCCO

Callan Family Office LLC purchased a new position in Southern Copper Corporation (NYSE:SCCO) in the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 2,418 shares of the basic materials company’s stock, valued at approximately $245,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. GAMMA Investing LLC raised its stake in Southern Copper by 35.2% in the first quarter. GAMMA Investing LLC now owns 906 shares of the basic materials company’s stock worth $85,000 after buying an additional 236 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Southern Copper by 42.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 14,773 shares of the basic materials company’s stock valued at $1,381,000 after acquiring an additional 4,391 shares during the period. Janney Montgomery Scott LLC increased its holdings in shares of Southern Copper by 6.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 187,970 shares of the basic materials company’s stock valued at $17,568,000 after acquiring an additional 11,052 shares during the period. QRG Capital Management Inc. bought a new position in shares of Southern Copper in the 1st quarter worth $263,000. Finally, ORG Wealth Partners LLC purchased a new stake in shares of Southern Copper during the 1st quarter worth $1,260,000. 7.94% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 414 shares of the company’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $100.00, for a total value of $41,400.00. Following the completion of the transaction, the director owned 2,327 shares in the company, valued at approximately $232,700. This represents a 15.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 1,228 shares of company stock valued at $123,102 over the last three months. 0.07% of the stock is currently owned by insiders.

Southern Copper Trading Up 1.1%

Shares of Southern Copper stock opened at $133.41 on Friday. The stock has a market cap of $107.27 billion, a PE ratio of 29.19, a price-to-earnings-growth ratio of 1.32 and a beta of 1.02. The firm has a fifty day moving average price of $109.47 and a 200 day moving average price of $98.99. Southern Copper Corporation has a 1 year low of $74.84 and a 1 year high of $136.49. The company has a debt-to-equity ratio of 0.67, a current ratio of 5.27 and a quick ratio of 4.51.

Southern Copper Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Friday, August 15th were given a dividend of $1.01 per share. This is a boost from Southern Copper’s previous quarterly dividend of $0.62. This represents a $4.04 annualized dividend and a yield of 3.0%. The ex-dividend date was Friday, August 15th. Southern Copper’s dividend payout ratio (DPR) is 70.02%.

Wall Street Analyst Weigh In

Several research firms recently commented on SCCO. Citigroup reiterated a “sell” rating and set a $108.00 price objective (up previously from $89.10) on shares of Southern Copper in a research note on Wednesday, October 8th. Morgan Stanley set a $132.00 price target on Southern Copper and gave the stock an “equal weight” rating in a research report on Wednesday, October 8th. UBS Group reiterated a “buy” rating on shares of Southern Copper in a report on Friday, September 19th. Jefferies Financial Group set a $155.00 price objective on Southern Copper and gave the stock a “buy” rating in a research report on Monday, October 6th. Finally, Wells Fargo & Company raised Southern Copper to a “hold” rating in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Southern Copper presently has an average rating of “Reduce” and a consensus target price of $109.88.

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.