Pure Financial Advisors LLC Buys Shares of 5,075 Southern Copper Corporation $SCCO

Pure Financial Advisors LLC acquired a new stake in Southern Copper Corporation (NYSE:SCCO) during the second quarter, HoldingsChannel.com reports. The fund acquired 5,075 shares of the basic materials company’s stock, valued at approximately $884,000.

Other large investors have also added to or reduced their stakes in the company. Bell Investment Advisors Inc acquired a new position in shares of Southern Copper during the 2nd quarter valued at $26,000. Rakuten Securities Inc. bought a new position in shares of Southern Copper in the 2nd quarter worth $28,000. SHP Wealth Management acquired a new position in Southern Copper during the fourth quarter worth $25,000. Lloyd Advisory Services LLC. acquired a new position in shares of Southern Copper during the fourth quarter valued at about $29,000. Finally, Virtus Advisers LLC bought a new position in Southern Copper in the 4th quarter valued at about $29,000. Institutional investors and hedge funds own 7.94% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on SCCO shares. CICC Research downgraded Southern Copper to a “market perform” rating in a report on Sunday, July 26th. Wells Fargo & Company upped their target price on Southern Copper from $168.97 to $169.96 and gave the company an “equal weight” rating in a report on Thursday, July 9th. Zacks Research downgraded Southern Copper from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 7th. Citigroup reiterated a “positive” rating on shares of Southern Copper in a report on Wednesday, July 15th. Finally, Scotiabank reissued an “underperform” rating and issued a $138.34 price objective (up from $133.40) on shares of Southern Copper in a research report on Monday, June 15th. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and seven have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $146.84.

Southern Copper Price Performance

Southern Copper stock opened at $213.68 on Thursday. The business’s 50 day simple moving average is $183.73 and its 200 day simple moving average is $183.58. Southern Copper Corporation has a 12 month low of $92.94 and a 12 month high of $223.88. The company has a market cap of $178.28 billion, a price-to-earnings ratio of 31.24, a PEG 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 (NYSE:SCCO) last released its earnings results on Wednesday, July 22nd. The basic materials company reported $1.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.93 by $0.06. The business had revenue of $4.29 billion during the quarter, compared to the consensus estimate of $4.37 billion. Southern Copper had a return on equity of 49.04% and a net margin of 35.87%.The firm’s quarterly revenue was up 40.6% compared to the same quarter last year. Sell-side analysts forecast that Southern Copper Corporation will post 7.61 EPS for the current year.

Southern Copper Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Tuesday, August 11th will be issued a $1.10 dividend. This is an increase from Southern Copper’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Tuesday, August 11th. This represents a $4.40 annualized dividend and a yield of 2.1%. Southern Copper’s payout ratio is 64.33%.

Insiders Place Their Bets

In related news, Director Bonilla Luis Miguel Palomino sold 202 shares of the business’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $196.79, for a total value of $39,751.28. Following the sale, the director directly owned 1,723 shares in the company, valued at approximately $339,066.65. The trade was a 10.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders sold 509 shares of company stock valued at $97,753. Company insiders own 0.07% of the company’s stock.

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.