Pure Financial Advisors LLC Makes New $884,000 Investment in Southern Copper Corporation $SCCO

Pure Financial Advisors LLC acquired a new position in shares of Southern Copper Corporation (NYSE:SCCO) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 5,075 shares of the basic materials company’s stock, valued at approximately $884,000.

Other large investors also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in Southern Copper during the second quarter worth $1,729,500,000. Bank of New York Mellon Corp acquired a new position in Southern Copper during the second quarter worth approximately $696,621,000. State Street Corp raised its stake in Southern Copper by 2.4% in the 4th quarter. State Street Corp now owns 2,862,244 shares of the basic materials company’s stock valued at $410,646,000 after acquiring an additional 66,268 shares during the period. Fisher Asset Management LLC raised its position in shares of Southern Copper by 0.3% in the fourth quarter. Fisher Asset Management LLC now owns 2,536,228 shares of the basic materials company’s stock valued at $363,873,000 after purchasing an additional 7,194 shares during the period. Finally, Bank of America Corp DE acquired a new position in Southern Copper in the 2nd quarter valued at about $318,448,000. Institutional investors and hedge funds own 7.94% of the company’s stock.

Southern Copper Stock Performance

NYSE SCCO opened at $213.68 on Thursday. The firm’s 50 day simple moving average is $183.73 and its 200 day simple moving average is $183.58. The firm has a market capitalization of $178.28 billion, a price-to-earnings ratio of 31.24, a P/E/G ratio of 1.88 and a beta of 1.11. The company has a current ratio of 5.06, a quick ratio of 4.56 and a debt-to-equity ratio of 0.63. Southern Copper Corporation has a 1 year low of $92.94 and a 1 year high of $223.88.

Southern Copper (NYSE:SCCO) last announced its quarterly earnings data on Wednesday, July 22nd. The basic materials company reported $1.99 EPS for the quarter, beating the consensus estimate of $1.93 by $0.06. Southern Copper had a net margin of 35.87% and a return on equity of 49.04%. The business had revenue of $4.29 billion during the quarter, compared to the consensus estimate of $4.37 billion. Southern Copper’s quarterly revenue was up 40.6% on a year-over-year basis. As a group, research analysts expect that Southern Copper Corporation will post 7.61 earnings per share for the current fiscal year.

Southern Copper Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Tuesday, August 11th will be given a $1.10 dividend. This is an increase from Southern Copper’s previous quarterly dividend of $1.00. This represents a $4.40 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Tuesday, August 11th. Southern Copper’s dividend payout ratio (DPR) is 64.33%.

Insider Activity at Southern Copper

In related news, Director Bonilla Luis Miguel Palomino sold 202 shares of the firm’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $196.79, for a total transaction of $39,751.28. Following the sale, the director owned 1,723 shares of the company’s stock, valued at $339,066.65. This trade represents a 10.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last three months, insiders sold 509 shares of company stock valued at $97,753. 0.07% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently weighed in on SCCO. UBS Group reissued a “sell” rating and set a $158.10 price target (up from $143.28) on shares of Southern Copper in a report on Tuesday, June 30th. Zacks Research cut Southern Copper from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 7th. CICC Research cut shares of Southern Copper to a “market perform” rating in a research report on Sunday, July 26th. Morgan Stanley upped their price target on shares of Southern Copper from $144.27 to $156.13 and gave the company an “underweight” rating in a research note on Wednesday, July 8th. Finally, Barclays set a $164.03 price objective on shares of Southern Copper and gave the stock an “underweight” rating in a research note on Thursday, July 23rd. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and seven have given a Sell rating to the company. Based on data from MarketBeat.com, Southern Copper currently has a consensus rating of “Reduce” and a consensus target price of $146.84.

About Southern Copper

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.