Mayflower Financial Advisors LLC Sells 4,609 Shares of Southern Copper Corporation $SCCO

Mayflower Financial Advisors LLC lowered its position in Southern Copper Corporation (NYSE:SCCO) by 29.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 11,067 shares of the basic materials company’s stock after selling 4,609 shares during the period. Mayflower Financial Advisors LLC’s holdings in Southern Copper were worth $1,588,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Hopwood Financial Services Inc. bought a new position in Southern Copper during the third quarter worth $25,000. MJT & Associates Financial Advisory Group Inc. boosted its position in Southern Copper by 65.1% during the third quarter. MJT & Associates Financial Advisory Group Inc. now owns 213 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 84 shares during the last quarter. Caitlin John LLC acquired a new stake in Southern Copper during the 3rd quarter worth about $30,000. United Community Bank acquired a new stake in Southern Copper during the 3rd quarter worth about $30,000. Finally, Covestor Ltd raised its position in shares of Southern Copper by 30.4% in the 3rd quarter. Covestor Ltd now owns 360 shares of the basic materials company’s stock worth $44,000 after acquiring an additional 84 shares in the last quarter. 7.94% of the stock is owned by institutional investors.

Southern Copper Stock Performance

Shares of SCCO opened at $159.70 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.89 and a quick ratio of 3.40. The stock has a 50-day moving average of $190.13 and a 200-day moving average of $153.01. The company has a market cap of $130.81 billion, a PE ratio of 30.02, a P/E/G ratio of 1.71 and a beta of 1.03. Southern Copper Corporation has a one year low of $74.84 and a one year high of $223.88.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings results on Wednesday, January 28th. The basic materials company reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.01. The business had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.73 billion. Southern Copper had a return on equity of 41.97% and a net margin of 32.30%.During the same period in the prior year, the business earned $0.98 EPS. On average, equities research analysts predict that Southern Copper Corporation will post 4.66 EPS for the current fiscal year.

Southern Copper Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Tuesday, February 10th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Tuesday, February 10th. This is a positive change from Southern Copper’s previous quarterly dividend of $0.90. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.5%. Southern Copper’s payout ratio is currently 75.19%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Wells Fargo & Company set a $190.38 price objective on Southern Copper and gave the company an “equal weight” rating in a research note on Thursday, January 29th. Itau BBA Securities downgraded Southern Copper from a “market perform” rating to an “underperform” rating and set a $124.94 target price for the company. in a report on Monday, December 22nd. Morgan Stanley reissued an “underweight” rating and issued a $154.69 price target on shares of Southern Copper in a research note on Friday, January 30th. Scotiabank restated an “underperform” rating on shares of Southern Copper in a report on Tuesday, January 27th. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $116.51 price objective (down from $118.49) on shares of Southern Copper in a research report on Friday, January 23rd. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and eight have assigned a Sell rating to the company. According to MarketBeat.com, Southern Copper currently has an average rating of “Reduce” and an average target price of $139.99.

Insider Buying and Selling

In related news, Director Bonilla Luis Miguel Palomino sold 193 shares of the stock in a transaction on Friday, March 13th. The stock was sold at an average price of $174.60, for a total value of $33,697.80. Following the transaction, the director directly owned 1,707 shares in the company, valued at $298,042.20. This trade represents a 10.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Lerdo De Tejada Leon Contreras sold 9,326 shares of Southern Copper stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $209.56, for a total transaction of $1,954,344.91. Following the completion of the sale, the director directly owned 605 shares of the company’s stock, valued at approximately $126,783.04. The trade was a 93.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 9,526 shares of company stock worth $1,989,373 over the last ninety days. 0.07% of the stock is owned by insiders.

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.