4,751 Shares in Southern Copper Co. (NYSE:SCCO) Purchased by IFM Investors Pty Ltd

IFM Investors Pty Ltd bought a new stake in Southern Copper Co. (NYSE:SCCO) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 4,751 shares of the basic materials company’s stock, valued at approximately $506,000.

Other hedge funds also recently modified their holdings of the company. Hartford Financial Management Inc. acquired a new position in Southern Copper during the third quarter valued at approximately $25,000. 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 valued at $26,000 after acquiring an additional 151 shares in the last quarter. Riverview Trust Co purchased a new stake in Southern Copper during the 1st quarter worth $27,000. Viking Fund Management LLC acquired a new stake in Southern Copper in the 4th quarter valued at $31,000. Finally, Venturi Wealth Management LLC raised its position in Southern Copper by 164.8% in the fourth quarter. Venturi Wealth Management LLC now owns 482 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 300 shares during the period. 7.94% of the stock is owned by institutional investors and hedge funds.

Southern Copper Stock Up 4.6 %

Shares of Southern Copper stock traded up $5.12 during trading on Friday, reaching $116.94. The company had a trading volume of 2,292,665 shares, compared to its average volume of 1,270,441. The company has a debt-to-equity ratio of 0.84, a quick ratio of 2.46 and a current ratio of 3.19. Southern Copper Co. has a fifty-two week low of $64.66 and a fifty-two week high of $120.37. The firm’s fifty day moving average is $99.81 and its 200-day moving average is $85.70. The company has a market cap of $90.41 billion, a price-to-earnings ratio of 38.47, a price-to-earnings-growth ratio of 3.35 and a beta of 1.29.

Southern Copper (NYSE:SCCO) last announced its quarterly earnings data on Friday, February 2nd. The basic materials company reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.15). Southern Copper had a net margin of 24.51% and a return on equity of 30.85%. The firm had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.37 billion. On average, analysts anticipate that Southern Copper Co. will post 3.95 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. CICC Research initiated coverage on shares of Southern Copper in a research note on Wednesday. They set an “outperform” rating on the stock. The Goldman Sachs Group boosted their price objective on shares of Southern Copper from $61.00 to $82.00 and gave the stock a “sell” rating in a report on Friday, March 22nd. Scotiabank raised their target price on Southern Copper from $53.00 to $55.00 and gave the company a “sector underperform” rating in a research note on Thursday, April 18th. JPMorgan Chase & Co. dropped their target price on Southern Copper from $63.50 to $61.00 and set an “underweight” rating on the stock in a research report on Thursday, March 21st. Finally, StockNews.com downgraded Southern Copper from a “buy” rating to a “hold” rating in a report on Monday, February 5th. Five investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Southern Copper has an average rating of “Hold” and an average price target of $76.00.

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.