RWC Asset Advisors US LLC Sells 47,546 Shares of Southern Copper Co. (NYSE:SCCO)

RWC Asset Advisors US LLC reduced its holdings in shares of Southern Copper Co. (NYSE:SCCO - Free Report) by 8.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 528,503 shares of the basic materials company's stock after selling 47,546 shares during the period. Southern Copper accounts for about 3.6% of RWC Asset Advisors US LLC's investment portfolio, making the stock its 10th largest holding. RWC Asset Advisors US LLC owned about 0.07% of Southern Copper worth $45,488,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. AE Wealth Management LLC bought a new stake in Southern Copper during the 3rd quarter valued at about $215,000. Exchange Traded Concepts LLC increased its stake in Southern Copper by 117.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 7,442 shares of the basic materials company's stock valued at $560,000 after purchasing an additional 4,020 shares in the last quarter. Security National Bank increased its stake in Southern Copper by 91.4% during the 3rd quarter. Security National Bank now owns 12,432 shares of the basic materials company's stock valued at $932,000 after purchasing an additional 5,938 shares in the last quarter. Commonwealth Equity Services LLC increased its stake in Southern Copper by 4.8% during the 3rd quarter. Commonwealth Equity Services LLC now owns 22,268 shares of the basic materials company's stock valued at $1,677,000 after purchasing an additional 1,030 shares in the last quarter. Finally, Ulland Investment Advisors LLC bought a new stake in Southern Copper during the 3rd quarter valued at about $200,000. 7.94% of the stock is owned by hedge funds and other institutional investors.

Southern Copper Price Performance

NYSE:SCCO traded up $5.12 during trading hours on Friday, hitting $116.94. 2,292,665 shares of the stock traded hands, compared to its average volume of 1,270,441. The company has a quick ratio of 2.46, a current ratio of 3.19 and a debt-to-equity ratio of 0.84. Southern Copper Co. has a 1 year low of $64.66 and a 1 year high of $120.37. The company has a market cap of $90.41 billion, a price-to-earnings ratio of 37.24, a price-to-earnings-growth ratio of 3.20 and a beta of 1.29. The stock has a 50 day moving average price of $99.81 and a 200 day moving average price of $85.62.

Southern Copper (NYSE:SCCO - Get Free Report) last issued its quarterly earnings results 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 for the quarter, compared to analysts' expectations of $2.37 billion. Sell-side analysts forecast that Southern Copper Co. will post 3.95 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on SCCO shares. HSBC lowered shares of Southern Copper from a "hold" rating to a "reduce" rating and set a $80.00 price target for the company. in a research note on Monday, April 22nd. The Goldman Sachs Group lifted their price target on shares of Southern Copper from $61.00 to $82.00 and gave the stock a "sell" rating in a research note on Friday, March 22nd. JPMorgan Chase & Co. reduced their price target on shares of Southern Copper from $63.50 to $61.00 and set an "underweight" rating for the company in a research note on Thursday, March 21st. Jefferies Financial Group raised shares of Southern Copper from a "hold" rating to a "buy" rating and raised their price objective for the stock from $91.00 to $130.00 in a report on Friday, March 22nd. Finally, StockNews.com downgraded shares of Southern Copper from a "buy" rating to a "hold" rating in a report on Monday, February 5th. Five analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $76.00.

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.