BI Asset Management Fondsmaeglerselskab A S Makes New $4.59 Million Investment in Southern Copper Co. (NYSE:SCCO)

BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Southern Copper Co. (NYSE:SCCO - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 50,370 shares of the basic materials company's stock, valued at approximately $4,590,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Morse Asset Management Inc bought a new stake in shares of Southern Copper during the 3rd quarter valued at about $1,397,000. Geode Capital Management LLC raised its holdings in Southern Copper by 3.4% during the 3rd quarter. Geode Capital Management LLC now owns 613,286 shares of the basic materials company's stock valued at $70,437,000 after buying an additional 20,204 shares during the last quarter. Tidal Investments LLC increased its holdings in Southern Copper by 30.8% during the 3rd quarter. Tidal Investments LLC now owns 71,376 shares of the basic materials company's stock valued at $8,256,000 after purchasing an additional 16,805 shares during the period. Franklin Resources Inc. raised its holdings in shares of Southern Copper by 27.7% during the third quarter. Franklin Resources Inc. now owns 108,633 shares of the basic materials company's stock valued at $12,772,000 after acquiring an additional 23,539 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Southern Copper by 33.7% during the 3rd quarter. Principal Financial Group Inc. now owns 9,693 shares of the basic materials company's stock valued at $1,121,000 after purchasing an additional 2,442 shares in the last quarter. 7.94% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SCCO has been the topic of a number of recent research reports. Hsbc Global Res raised shares of Southern Copper from a "moderate sell" rating to a "hold" rating in a research report on Thursday. UBS Group decreased their target price on Southern Copper from $120.00 to $100.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. JPMorgan Chase & Co. reduced their price objective on Southern Copper from $84.00 to $83.50 and set a "neutral" rating for the company in a research report on Monday, April 14th. Finally, Scotiabank lifted 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 note on Monday, March 10th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $91.50.

Southern Copper Trading Down 1.7 %

Shares of Southern Copper stock traded down $1.65 on Friday, reaching $94.18. The company had a trading volume of 1,610,023 shares, compared to its average volume of 1,220,726. The firm has a market cap of $74.98 billion, a price-to-earnings ratio of 21.80, a P/E/G ratio of 1.90 and a beta of 1.04. 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's 50-day moving average price is $90.73 and its two-hundred day moving average price is $97.36. Southern Copper Co. has a 1 year low of $74.84 and a 1 year high of $127.34.

Southern Copper (NYSE:SCCO - Get Free Report) last announced its earnings results on Friday, April 25th. The basic materials company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.14. The business had revenue of $3.12 billion for 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%. As a group, research analysts predict that Southern Copper Co. will post 4.66 earnings per share for the current fiscal year.

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.