Invesco Ltd. cut its stake in shares of Southern Copper Co. (NYSE:SCCO - Free Report) by 55.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 109,290 shares of the basic materials company's stock after selling 136,767 shares during the quarter. Invesco Ltd.'s holdings in Southern Copper were worth $9,960,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of SCCO. Morse Asset Management Inc bought a new position in Southern Copper during the third quarter worth $1,397,000. Tidal Investments LLC boosted its stake in Southern Copper by 30.8% during the third quarter. Tidal Investments LLC now owns 71,376 shares of the basic materials company's stock worth $8,256,000 after acquiring an additional 16,805 shares in the last quarter. Franklin Resources Inc. boosted its stake in Southern Copper by 27.7% during the third quarter. Franklin Resources Inc. now owns 108,633 shares of the basic materials company's stock worth $12,772,000 after acquiring an additional 23,539 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Southern Copper by 33.7% during the third quarter. Principal Financial Group Inc. now owns 9,693 shares of the basic materials company's stock worth $1,121,000 after acquiring an additional 2,442 shares in the last quarter. Finally, Independent Solutions Wealth Management LLC boosted its stake in Southern Copper by 2.1% during the third quarter. Independent Solutions Wealth Management LLC now owns 22,767 shares of the basic materials company's stock worth $2,633,000 after acquiring an additional 474 shares in the last quarter. 7.94% of the stock is owned by institutional investors.
Southern Copper Stock Performance
Shares of NYSE SCCO traded down $0.50 during midday trading on Monday, reaching $93.78. The company's stock had a trading volume of 1,057,520 shares, compared to its average volume of 1,215,611. Southern Copper Co. has a 12-month low of $74.84 and a 12-month high of $127.34. The firm has a 50 day moving average price of $90.67 and a 200-day moving average price of $96.94. The stock has a market capitalization of $74.67 billion, a P/E ratio of 21.71, 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 (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, topping analysts' consensus estimates of $1.05 by $0.14. Southern Copper had a return on equity of 40.27% and a net margin of 29.53%. The firm had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.05 billion. As a group, equities analysts predict that Southern Copper Co. will post 4.66 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on SCCO shares. JPMorgan Chase & Co. decreased their target price on shares of Southern Copper from $84.00 to $83.50 and set a "neutral" rating for the company in a research report on Monday, April 14th. Hsbc Global Res raised Southern Copper from a "moderate sell" rating to a "hold" rating in a report on Thursday. StockNews.com lowered Southern Copper from a "buy" rating to a "hold" rating in a report on Monday. 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, UBS Group decreased their price objective on Southern Copper from $120.00 to $100.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $91.50.
Check Out Our Latest Research Report on SCCO
About Southern Copper
(
Free Report)
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.
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