Natixis Makes New $1.72 Million Investment in Southern Copper Co. (NYSE:SCCO)

Natixis acquired a new stake in Southern Copper Co. (NYSE:SCCO - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The firm acquired 18,876 shares of the basic materials company's stock, valued at approximately $1,720,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Whittier Trust Co. of Nevada Inc. bought a new position in Southern Copper during the fourth quarter worth about $30,000. Deseret Mutual Benefit Administrators boosted its holdings in shares of Southern Copper by 210.7% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 379 shares of the basic materials company's stock worth $35,000 after acquiring an additional 257 shares during the period. IFP Advisors Inc boosted its holdings in shares of Southern Copper by 143.4% in the fourth quarter. IFP Advisors Inc now owns 477 shares of the basic materials company's stock worth $43,000 after acquiring an additional 281 shares during the period. Spire Wealth Management bought a new stake in shares of Southern Copper during the 4th quarter valued at $47,000. Finally, Larson Financial Group LLC lifted its holdings in Southern Copper by 28.0% during 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 in the last quarter. Hedge funds and other institutional investors own 7.94% of the company's stock.

Wall Street Analysts Forecast Growth

SCCO has been the subject of a number of analyst reports. UBS Group cut their price objective on shares of Southern Copper from $120.00 to $100.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Hsbc Global Res upgraded Southern Copper from a "moderate sell" rating to a "hold" rating in a research report on Thursday. Scotiabank boosted their price objective on Southern Copper from $52.00 to $72.00 and gave the stock a "sector underperform" rating in a report on Monday, March 10th. Finally, JPMorgan Chase & Co. lowered their price target on 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 research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Southern Copper presently has an average rating of "Hold" and a consensus target price of $91.50.

Southern Copper Trading Down 1.0 %

Southern Copper stock traded down $0.90 during mid-day trading on Monday, reaching $93.38. 221,025 shares of the company traded hands, compared to its average volume of 1,212,332. The firm's 50 day moving average price is $90.73 and its 200 day moving average price is $97.10. Southern Copper Co. has a 52-week low of $74.84 and a 52-week high of $127.34. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.77 and a quick ratio of 2.31. The firm has a market capitalization of $74.35 billion, a price-to-earnings ratio of 21.61, a P/E/G ratio of 1.90 and a beta of 1.04.

Southern Copper (NYSE:SCCO - Get Free Report) last released its quarterly earnings results on Friday, April 25th. The basic materials company reported $1.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.05 by $0.14. The company had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.05 billion. Southern Copper had a net margin of 29.53% and a return on equity of 40.27%. On average, analysts anticipate that Southern Copper Co. will post 4.66 earnings per share for the current fiscal year.

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.