Southern Copper Corporation $SCCO Shares Bought by Mayflower Financial Advisors LLC

Mayflower Financial Advisors LLC lifted its holdings in Southern Copper Corporation (NYSE:SCCO) by 2.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,956 shares of the basic materials company’s stock after purchasing an additional 358 shares during the period. Mayflower Financial Advisors LLC’s holdings in Southern Copper were worth $1,715,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Cullen Frost Bankers Inc. grew its stake in shares of Southern Copper by 117.6% in the 1st quarter. Cullen Frost Bankers Inc. now owns 272 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 147 shares during the last quarter. Golden State Wealth Management LLC acquired a new position in shares of Southern Copper in the 1st quarter worth approximately $29,000. N.E.W. Advisory Services LLC acquired a new position in shares of Southern Copper in the 1st quarter worth approximately $34,000. Quarry LP acquired a new position in shares of Southern Copper in the 1st quarter worth approximately $41,000. Finally, Bessemer Group Inc. increased its position in shares of Southern Copper by 3,100.0% in the second quarter. Bessemer Group Inc. now owns 480 shares of the basic materials company’s stock worth $49,000 after acquiring an additional 465 shares in the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Southern Copper Stock Performance

SCCO stock opened at $138.58 on Wednesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 4.51 and a current ratio of 5.27. The stock has a market cap of $111.43 billion, a P/E ratio of 30.32, a P/E/G ratio of 1.24 and a beta of 1.02. The firm has a 50 day simple moving average of $114.90 and a 200 day simple moving average of $101.87. Southern Copper Corporation has a 52 week low of $74.84 and a 52 week high of $138.96.

Southern Copper Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Wednesday, November 12th will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Wednesday, November 12th. Southern Copper’s dividend payout ratio (DPR) is currently 70.02%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Morgan Stanley set a $132.00 target price on shares of Southern Copper and gave the stock an “equal weight” rating in a research report on Wednesday, October 8th. Citigroup reissued a “sell” rating and issued a $108.00 target price (up from $89.10) on shares of Southern Copper in a research report on Wednesday, October 8th. Wells Fargo & Company raised shares of Southern Copper to a “hold” rating in a research report on Wednesday, October 8th. The Goldman Sachs Group set a $89.00 target price on shares of Southern Copper and gave the stock a “sell” rating in a research report on Wednesday, September 17th. Finally, HSBC reissued a “hold” rating and issued a $118.00 target price (up from $105.00) on shares of Southern Copper in a research report on Friday, October 17th. Two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Southern Copper currently has an average rating of “Reduce” and an average target price of $113.28.

Insider Activity at Southern Copper

In related news, Director Bonilla Luis Miguel Palomino sold 414 shares of the firm’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $100.00, for a total transaction of $41,400.00. Following the completion of the sale, the director directly owned 2,327 shares in the company, valued at approximately $232,700. This trade represents a 15.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold 1,228 shares of company stock worth $123,102 in the last ninety days. Company insiders own 0.07% of the company’s stock.

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.