Mayflower Financial Advisors LLC Has $1.72 Million Stock Holdings in Southern Copper Corporation $SCCO

Mayflower Financial Advisors LLC raised its holdings in Southern Copper Corporation (NYSE:SCCO) by 2.2% in the second quarter, Holdings Channel.com reports. The fund owned 16,956 shares of the basic materials company’s stock after acquiring an additional 358 shares during the quarter. Mayflower Financial Advisors LLC’s holdings in Southern Copper were worth $1,715,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Wealth Management Associates Inc. acquired a new stake in Southern Copper in the second quarter valued at approximately $210,000. First National Trust Co lifted its stake in shares of Southern Copper by 1.0% in the second quarter. First National Trust Co now owns 38,609 shares of the basic materials company’s stock worth $3,906,000 after buying an additional 377 shares during the last quarter. United Capital Management of KS Inc. acquired a new stake in shares of Southern Copper in the second quarter worth $6,652,000. Y Intercept Hong Kong Ltd lifted its stake in shares of Southern Copper by 1,654.4% in the second quarter. Y Intercept Hong Kong Ltd now owns 93,439 shares of the basic materials company’s stock worth $9,453,000 after buying an additional 88,113 shares during the last quarter. Finally, Bessemer Group Inc. lifted its stake 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 buying an additional 465 shares during the last quarter. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Southern Copper

In related news, Director Bonilla Luis Miguel Palomino sold 414 shares of the business’s stock in a transaction 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 transaction, the director owned 2,327 shares of the company’s stock, valued at approximately $232,700. The trade was a 15.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have sold a total of 1,228 shares of company stock worth $123,102 over the last 90 days. Insiders own 0.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Southern Copper from $92.00 to $114.50 and gave the stock a “neutral” rating in a research note on Monday. The Goldman Sachs Group set a $89.00 price objective on shares of Southern Copper and gave the stock a “sell” rating in a research note on Wednesday, September 17th. HSBC restated a “hold” rating and issued a $118.00 price objective (up from $105.00) on shares of Southern Copper in a research note on Friday, October 17th. Citigroup restated a “sell” rating and issued a $108.00 price objective (up from $89.10) on shares of Southern Copper in a research note on Wednesday, October 8th. Finally, Morgan Stanley set a $132.00 price objective on shares of Southern Copper and gave the stock an “equal weight” rating in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $113.28.

Southern Copper Trading Up 4.2%

Shares of SCCO stock opened at $138.58 on Wednesday. Southern Copper Corporation has a 1 year low of $74.84 and a 1 year high of $138.96. The firm’s fifty day simple moving average is $114.90 and its 200 day simple moving average is $101.87. The firm has a market capitalization of $111.43 billion, a P/E ratio of 30.32, a price-to-earnings-growth ratio of 1.24 and a beta of 1.02. The company has a current ratio of 5.27, a quick ratio of 4.51 and a debt-to-equity ratio of 0.67.

Southern Copper Cuts Dividend

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

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.