Pure Financial Advisors LLC Makes New Investment in Southern Copper Corporation (NYSE:SCCO)

Pure Financial Advisors LLC purchased a new position in shares of Southern Copper Corporation (NYSE:SCCO) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 2,377 shares of the basic materials company’s stock, valued at approximately $222,000.

Several other hedge funds also recently modified their holdings of the business. Whittier Trust Co. of Nevada Inc. acquired a new position in Southern Copper in the 4th quarter valued at $30,000. IFP Advisors Inc grew its position in Southern Copper by 143.4% in the 4th quarter. IFP Advisors Inc now owns 477 shares of the basic materials company’s stock worth $43,000 after purchasing an additional 281 shares during the last quarter. Larson Financial Group LLC grew its position in Southern Copper by 28.0% in the 4th quarter. Larson Financial Group LLC now owns 521 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 114 shares during the last quarter. Golden State Wealth Management LLC acquired a new stake in Southern Copper in the 1st quarter worth $59,000. Finally, Lee Danner & Bass Inc. acquired a new stake in Southern Copper in the 4th quarter worth $60,000. Institutional investors and hedge funds own 7.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SCCO. UBS Group decreased their price target on shares of Southern Copper from $120.00 to $100.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. Hsbc Global Res upgraded shares of Southern Copper from a “moderate sell” rating to a “hold” rating in a research report on Thursday, April 24th. Scotiabank raised their price target on shares of Southern Copper from $52.00 to $72.00 and gave the stock a “sector underperform” rating in a research report on Monday, March 10th. Itau BBA Securities raised shares of Southern Copper from an “underperform” rating to a “market perform” rating in a report on Wednesday, June 11th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Southern Copper from $84.00 to $83.50 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Southern Copper has a consensus rating of “Hold” and a consensus target price of $91.50.

Southern Copper Price Performance

Shares of Southern Copper stock opened at $102.41 on Friday. Southern Copper Corporation has a twelve month low of $74.11 and a twelve month high of $118.64. The firm has a market cap of $81.54 billion, a P/E ratio of 22.41, a price-to-earnings-growth ratio of 2.43 and a beta of 1.01. The firm’s 50-day simple moving average is $93.23 and its 200-day simple moving average is $93.02. The company has a debt-to-equity ratio of 0.70, a quick ratio of 3.22 and a current ratio of 3.71.

Southern Copper (NYSE:SCCO) last announced its quarterly earnings results on Friday, April 25th. The basic materials company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.14. Southern Copper had a net margin of 30.00% and a return on equity of 39.39%. The firm had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.05 billion. As a group, research analysts expect that Southern Copper Corporation will post 4.66 EPS for the current fiscal year.

Southern Copper Announces Dividend

The company also recently declared a dividend, which was paid on Monday, May 19th. Investors of record on Monday, May 5th were issued a dividend of $0.70 per share. This represents a yield of 2.98%. The ex-dividend date of this dividend was Friday, May 2nd. Southern Copper’s dividend payout ratio is currently 61.27%.

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.