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

Frank Rimerman Advisors LLC bought a new position in Southern Copper Co. (NYSE:SCCO) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 2,824 shares of the basic materials company’s stock, valued at approximately $304,000.

Other institutional investors have also recently bought and sold shares of the company. Fortis Group Advisors LLC lifted 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 worth $26,000 after acquiring an additional 151 shares during the period. Fidelis Capital Partners LLC bought a new position in Southern Copper during the first quarter worth about $26,000. Riverview Trust Co acquired a new stake in Southern Copper during the first quarter valued at approximately $27,000. Hanseatic Management Services Inc. bought a new stake in shares of Southern Copper in the 2nd quarter valued at approximately $53,000. Finally, Blue Trust Inc. raised its holdings in shares of Southern Copper by 215.4% in the 2nd quarter. Blue Trust Inc. now owns 1,126 shares of the basic materials company’s stock worth $120,000 after buying an additional 769 shares in the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on SCCO. UBS Group began coverage on Southern Copper in a research note on Friday, July 12th. They issued a “neutral” rating and a $120.00 price target on the stock. Morgan Stanley upped their target price on shares of Southern Copper from $97.00 to $100.00 and gave the stock an “underweight” rating in a report on Thursday, September 19th. Five investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $89.57.

Southern Copper Stock Performance

Southern Copper stock opened at $113.68 on Wednesday. The stock has a 50-day simple moving average of $101.83 and a 200 day simple moving average of $108.33. The stock has a market capitalization of $88.80 billion, a price-to-earnings ratio of 37.77, a P/E/G ratio of 1.02 and a beta of 1.17. The company has a quick ratio of 2.27, a current ratio of 2.81 and a debt-to-equity ratio of 0.67. Southern Copper Co. has a 12-month low of $68.93 and a 12-month high of $129.79.

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

Southern Copper Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were given a $0.60 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.40 annualized dividend and a dividend yield of 2.11%. Southern Copper’s dividend payout ratio is currently 79.73%.

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.