SG Americas Securities LLC Acquires 92,605 Shares of Southern Copper Co. (NYSE:SCCO)

SG Americas Securities LLC grew its holdings in Southern Copper Co. (NYSE:SCCO) by 1,322.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 99,606 shares of the basic materials company’s stock after purchasing an additional 92,605 shares during the quarter. SG Americas Securities LLC’s holdings in Southern Copper were worth $9,077,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its stake in Southern Copper by 74.6% in the third quarter. JPMorgan Chase & Co. now owns 1,402,983 shares of the basic materials company’s stock valued at $162,283,000 after buying an additional 599,610 shares during the period. Itau Unibanco Holding S.A. increased its stake in shares of Southern Copper by 115,910.7% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 336,431 shares of the basic materials company’s stock valued at $38,915,000 after acquiring an additional 336,141 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of Southern Copper by 10.6% during the 3rd quarter. Fisher Asset Management LLC now owns 2,963,572 shares of the basic materials company’s stock valued at $342,796,000 after acquiring an additional 283,562 shares during the period. International Assets Investment Management LLC boosted its stake in Southern Copper by 11,510.5% during the third quarter. International Assets Investment Management LLC now owns 189,716 shares of the basic materials company’s stock worth $21,944,000 after acquiring an additional 188,082 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in Southern Copper by 1,601.3% in the third quarter. BNP Paribas Financial Markets now owns 192,571 shares of the basic materials company’s stock worth $22,275,000 after purchasing an additional 181,252 shares during the period. Institutional investors own 7.94% of the company’s stock.

Southern Copper Stock Performance

Shares of SCCO opened at $97.20 on Friday. Southern Copper Co. has a 52 week low of $77.42 and a 52 week high of $129.79. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.77. The stock has a 50 day moving average price of $97.49 and a two-hundred day moving average price of $103.80. The firm has a market capitalization of $76.36 billion, a P/E ratio of 25.02, a P/E/G ratio of 1.96 and a beta of 1.14.

Southern Copper (NYSE:SCCO) last announced its quarterly earnings results on Tuesday, October 22nd. The basic materials company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.03. Southern Copper had a return on equity of 37.11% and a net margin of 27.67%. The business had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.94 billion. Equities analysts forecast that Southern Copper Co. will post 4.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Citigroup upped their price objective on shares of Southern Copper from $99.44 to $100.00 and gave the company a “sell” rating in a report on Wednesday, October 2nd. Scotiabank dropped their price target on Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating on the stock in a research note on Tuesday, October 15th. Morgan Stanley raised Southern Copper from an “underweight” rating to an “equal weight” rating and reduced their price objective for the company from $106.30 to $102.00 in a research note on Thursday, December 12th. Finally, JPMorgan Chase & Co. raised Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 target price on the stock in a research report on Monday, December 2nd. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Southern Copper has an average rating of “Hold” and an average price target of $94.81.

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.