CANADA LIFE ASSURANCE Co Acquires 32,515 Shares of Southern Copper Co. (NYSE:SCCO)

CANADA LIFE ASSURANCE Co grew its holdings in Southern Copper Co. (NYSE:SCCO - Free Report) by 14.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 259,597 shares of the basic materials company's stock after acquiring an additional 32,515 shares during the quarter. CANADA LIFE ASSURANCE Co's holdings in Southern Copper were worth $23,634,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of SCCO. Whittier Trust Co. of Nevada Inc. bought a new stake in Southern Copper in the 4th quarter valued at $30,000. Deseret Mutual Benefit Administrators increased its stake in Southern Copper by 210.7% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 379 shares of the basic materials company's stock valued at $35,000 after acquiring an additional 257 shares during the period. IFP Advisors Inc raised its position in 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 purchasing an additional 281 shares in the last quarter. Spire Wealth Management bought a new position in Southern Copper during the fourth quarter worth about $47,000. Finally, Larson Financial Group LLC boosted its holdings in Southern Copper by 28.0% during the fourth quarter. Larson Financial Group LLC now owns 521 shares of the basic materials company's stock valued at $48,000 after purchasing an additional 114 shares in the last quarter. Institutional investors and hedge funds own 7.94% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Scotiabank lifted their price objective on Southern Copper from $52.00 to $72.00 and gave the company a "sector underperform" rating in a research report on Monday, March 10th. UBS Group lowered their target price on Southern Copper from $120.00 to $100.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Finally, JPMorgan Chase & Co. decreased their price target on Southern Copper from $84.00 to $83.50 and set a "neutral" rating for the company in a research note on Monday, April 14th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $91.50.

Southern Copper Price Performance

Southern Copper stock traded down $1.43 during mid-day trading on Friday, reaching $94.40. 517,210 shares of the company were exchanged, compared to its average volume of 1,217,693. The company has a fifty day simple moving average of $90.79 and a 200-day simple moving average of $97.49. The firm has a market cap of $75.16 billion, a PE ratio of 21.87, a PEG 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. Southern Copper Co. has a 12 month low of $74.84 and a 12 month high of $127.34.

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

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.