Whittier Trust Co. Raises Stock Holdings in Southern Copper Co. (NYSE:SCCO)

Whittier Trust Co. increased its position in Southern Copper Co. (NYSE:SCCO) by 9.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,788 shares of the basic materials company’s stock after purchasing an additional 158 shares during the period. Whittier Trust Co.’s holdings in Southern Copper were worth $193,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SCCO. Financial Advocates Investment Management grew its stake in shares of Southern Copper by 21.6% in the second quarter. Financial Advocates Investment Management now owns 3,681 shares of the basic materials company’s stock worth $397,000 after acquiring an additional 655 shares during the last quarter. HB Wealth Management LLC grew its stake in shares of Southern Copper by 24.8% in the second quarter. HB Wealth Management LLC now owns 2,693 shares of the basic materials company’s stock worth $290,000 after acquiring an additional 535 shares during the last quarter. Lester Murray Antman dba SimplyRich grew its stake in shares of Southern Copper by 1.0% in the second quarter. Lester Murray Antman dba SimplyRich now owns 27,920 shares of the basic materials company’s stock worth $3,008,000 after acquiring an additional 276 shares during the last quarter. Checchi Capital Advisers LLC boosted its position in shares of Southern Copper by 2.6% during the second quarter. Checchi Capital Advisers LLC now owns 5,668 shares of the basic materials company’s stock valued at $611,000 after buying an additional 146 shares during the last quarter. Finally, Klein Pavlis & Peasley Financial Inc. boosted its position in shares of Southern Copper by 2.8% during the second quarter. Klein Pavlis & Peasley Financial Inc. now owns 36,691 shares of the basic materials company’s stock valued at $3,953,000 after buying an additional 986 shares during the last quarter. 7.94% of the stock is owned by hedge funds and other institutional investors.

Southern Copper Stock Up 0.6 %

SCCO stock opened at $101.44 on Friday. Southern Copper Co. has a fifty-two week low of $68.93 and a fifty-two week high of $129.79. The business’s 50-day moving average is $106.50 and its two-hundred day moving average is $105.73. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.27 and a current ratio of 2.81. The company has a market cap of $79.24 billion, a price-to-earnings ratio of 33.70, a P/E/G ratio of 1.06 and a beta of 1.20.

Southern Copper (NYSE:SCCO) last posted its earnings results on Friday, July 19th. The basic materials company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates 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. As a group, analysts forecast that Southern Copper Co. will post 4.33 earnings per share for the current year.

Southern Copper Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend was Friday, August 9th. Southern Copper’s dividend payout ratio (DPR) is currently 79.73%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. StockNews.com raised Southern Copper from a “hold” rating to a “buy” rating in a research report on Wednesday, May 15th. UBS Group assumed coverage on Southern Copper in a research report on Friday, July 12th. They set a “neutral” rating and a $120.00 price objective on the stock. Morgan Stanley increased their price objective on Southern Copper from $81.70 to $100.00 and gave the company an “underweight” rating in a research report on Friday, June 21st. Finally, Scotiabank dropped their price objective on Southern Copper from $55.00 to $54.00 and set a “sector underperform” rating on the stock in a research report on Tuesday, May 21st. Five investment analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. According to MarketBeat, Southern Copper has a consensus rating of “Hold” and a consensus target price of $89.57.

Southern Copper 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.