Frank Rimerman Advisors LLC Takes Position in Southern Copper Co. (NYSE:SCCO)

Frank Rimerman Advisors LLC purchased a new position in Southern Copper Co. (NYSE:SCCO) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,824 shares of the basic materials company’s stock, valued at approximately $304,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Fortis Group Advisors LLC grew its holdings in shares of Southern Copper by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 302 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 151 shares in the last quarter. Fidelis Capital Partners LLC purchased a new position in Southern Copper in the first quarter valued at about $26,000. Riverview Trust Co acquired a new position in Southern Copper in the 1st quarter worth about $27,000. Hanseatic Management Services Inc. purchased a new stake in shares of Southern Copper during the 2nd quarter worth about $53,000. Finally, Blue Trust Inc. lifted its holdings in shares of Southern Copper by 215.4% during the 2nd quarter. Blue Trust Inc. now owns 1,126 shares of the basic materials company’s stock valued at $120,000 after buying an additional 769 shares during the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on SCCO shares. UBS Group started coverage on Southern Copper in a report on Friday, July 12th. They issued a “neutral” rating and a $120.00 price objective on the stock. Morgan Stanley raised their price target on shares of Southern Copper from $97.00 to $100.00 and gave the company an “underweight” rating in a report on Thursday, September 19th. Five equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $89.57.

Southern Copper Stock Performance

NYSE:SCCO opened at $113.68 on Wednesday. The firm has a market capitalization of $88.80 billion, a PE ratio of 37.77, a PEG ratio of 1.02 and a beta of 1.17. Southern Copper Co. has a 1 year low of $68.93 and a 1 year high of $129.79. The company has a current ratio of 2.81, a quick ratio of 2.27 and a debt-to-equity ratio of 0.67. The firm’s fifty day simple moving average is $101.83 and its 200 day simple moving average is $108.33.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings results on Friday, July 19th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.09. Southern Copper had a return on equity of 34.98% and a net margin of 26.15%. The company had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $2.96 billion. On average, sell-side analysts anticipate that Southern Copper Co. will post 4.33 EPS for the current year.

Southern Copper Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were issued a dividend of $0.60 per share. The ex-dividend date was Friday, August 9th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.11%. Southern Copper’s dividend payout ratio (DPR) is presently 79.73%.

Southern Copper Company Profile

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.