Southern Copper Corporation $SCCO Shares Purchased by MassMutual Private Wealth & Trust FSB

MassMutual Private Wealth & Trust FSB lifted its stake in shares of Southern Copper Corporation (NYSE:SCCO) by 20.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,043 shares of the basic materials company’s stock after purchasing an additional 180 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in Southern Copper were worth $106,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of SCCO. Cullen Frost Bankers Inc. lifted its position in shares of Southern Copper by 117.6% during the 1st quarter. Cullen Frost Bankers Inc. now owns 272 shares of the basic materials company’s stock worth $25,000 after buying an additional 147 shares during the period. Golden State Wealth Management LLC bought a new stake in shares of Southern Copper during the first quarter worth about $29,000. N.E.W. Advisory Services LLC bought a new position in Southern Copper in the 1st quarter worth approximately $34,000. Quarry LP bought a new stake in shares of Southern Copper in the 1st quarter worth approximately $41,000. Finally, Twin Tree Management LP increased its stake in shares of Southern Copper by 583.5% during the first quarter. Twin Tree Management LP now owns 622 shares of the basic materials company’s stock valued at $58,000 after purchasing an additional 531 shares in the last quarter. 7.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SCCO has been the subject of a number of recent research reports. Itau BBA Securities upgraded Southern Copper from an “underperform” rating to a “market perform” rating in a report on Wednesday, June 11th. Morgan Stanley reaffirmed an “underweight” rating and set a $99.00 target price (up previously from $86.00) on shares of Southern Copper in a research note on Tuesday, July 15th. UBS Group restated a “buy” rating on shares of Southern Copper in a research report on Friday. The Goldman Sachs Group set a $89.00 target price on Southern Copper and gave the company a “sell” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. raised their target price on shares of Southern Copper from $79.00 to $92.00 and gave the company a “neutral” rating in a report on Wednesday, September 3rd. Four analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $93.67.

Southern Copper Trading Up 2.6%

Shares of SCCO stock opened at $110.05 on Friday. 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 Corporation has a 1 year low of $74.84 and a 1 year high of $121.44. The company’s fifty day simple moving average is $98.74 and its two-hundred day simple moving average is $95.11. The stock has a market capitalization of $88.49 billion, a price-to-earnings ratio of 24.08, a PEG ratio of 1.58 and a beta of 0.99.

Southern Copper Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Friday, August 15th were paid a $1.01 dividend. This is a boost from Southern Copper’s previous quarterly dividend of $0.62. The ex-dividend date was Friday, August 15th. This represents a $4.04 annualized dividend and a dividend yield of 3.7%. Southern Copper’s dividend payout ratio (DPR) is currently 70.02%.

Insider Activity

In other news, Director Bonilla Luis Miguel Palomino sold 414 shares of the business’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 sale, the director directly owned 2,327 shares in the company, valued at $232,700. The trade was a 15.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold 1,228 shares of company stock valued at $123,102 over the last quarter. Insiders own 0.07% of the company’s stock.

About Southern Copper

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.