Flagship Harbor Advisors LLC Acquires 6,573 Shares of Southern Copper Corp (SCCO)

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Flagship Harbor Advisors LLC grew its holdings in shares of Southern Copper Corp (NYSE:SCCO) by 3,572.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,757 shares of the basic materials company’s stock after purchasing an additional 6,573 shares during the period. Flagship Harbor Advisors LLC’s holdings in Southern Copper were worth $268,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of SCCO. Norges Bank purchased a new stake in shares of Southern Copper during the fourth quarter worth approximately $34,968,000. JPMorgan Chase & Co. increased its stake in shares of Southern Copper by 215.4% during the third quarter. JPMorgan Chase & Co. now owns 895,330 shares of the basic materials company’s stock worth $38,625,000 after buying an additional 611,501 shares during the period. Morgan Stanley increased its stake in shares of Southern Copper by 85.1% during the third quarter. Morgan Stanley now owns 934,501 shares of the basic materials company’s stock worth $40,315,000 after buying an additional 429,726 shares during the period. Renaissance Technologies LLC increased its stake in shares of Southern Copper by 68.9% during the third quarter. Renaissance Technologies LLC now owns 517,456 shares of the basic materials company’s stock worth $22,323,000 after buying an additional 211,100 shares during the period. Finally, Millennium Management LLC increased its stake in shares of Southern Copper by 45.4% during the fourth quarter. Millennium Management LLC now owns 653,440 shares of the basic materials company’s stock worth $20,106,000 after buying an additional 204,050 shares during the period. Institutional investors own 7.22% of the company’s stock.

Shares of SCCO opened at $41.84 on Thursday. The company has a quick ratio of 1.77, a current ratio of 2.61 and a debt-to-equity ratio of 0.90. Southern Copper Corp has a 52-week low of $29.01 and a 52-week high of $58.09.

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 3rd will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date is Thursday, May 2nd.

A number of analysts recently weighed in on the stock. TheStreet lowered shares of Southern Copper from a “b-” rating to a “c+” rating in a research note on Friday, January 18th. Zacks Investment Research upgraded shares of Southern Copper from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a research note on Tuesday. HSBC upgraded shares of Southern Copper from a “reduce” rating to a “hold” rating and set a $37.00 target price on the stock in a research note on Tuesday, March 19th. Bank of America assumed coverage on shares of Southern Copper in a research note on Tuesday, January 29th. They set a “buy” rating and a $39.00 target price on the stock. Finally, Citigroup upgraded shares of Southern Copper from a “sell” rating to a “buy” rating and upped their target price for the stock from $33.00 to $41.00 in a research note on Tuesday, February 19th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. Southern Copper has a consensus rating of “Hold” and an average price target of $41.86.

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About Southern Copper

Southern Copper Corporation engages in mining, exploring, smelting, and refining copper and other minerals in Peru, Mexico, Argentina, Chile, and Ecuador. 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 and lead.

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Institutional Ownership by Quarter for Southern Copper (NYSE:SCCO)

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