Xponance Inc. Decreases Position in Southern Copper Co. (NYSE:SCCO)

Xponance Inc. lowered its stake in shares of Southern Copper Co. (NYSE:SCCO) by 2.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,576 shares of the basic materials company’s stock after selling 345 shares during the quarter. Xponance Inc.’s holdings in Southern Copper were worth $996,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Hartford Financial Management Inc. purchased a new stake in Southern Copper during the 3rd quarter worth about $25,000. Viking Fund Management LLC purchased a new stake in shares of Southern Copper during the fourth quarter worth approximately $31,000. Venturi Wealth Management LLC raised its holdings in Southern Copper by 164.8% in the fourth quarter. Venturi Wealth Management LLC now owns 482 shares of the basic materials company’s stock valued at $41,000 after acquiring an additional 300 shares in the last quarter. Washington Trust Advisors Inc. acquired a new stake in Southern Copper in the fourth quarter valued at approximately $45,000. Finally, Planned Solutions Inc. purchased a new position in Southern Copper in the fourth quarter worth approximately $88,000. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Southern Copper Trading Up 2.4 %

SCCO opened at $111.84 on Friday. 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 52 week low of $64.66 and a 52 week high of $120.37. The business’s 50 day moving average is $99.14 and its two-hundred day moving average is $85.25. The firm has a market cap of $86.46 billion, a price-to-earnings ratio of 35.62, a price-to-earnings-growth ratio of 3.13 and a beta of 1.29.

Southern Copper (NYSE:SCCO) last announced its earnings results on Friday, February 2nd. The basic materials company reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.15). Southern Copper had a net margin of 24.51% and a return on equity of 30.85%. The business had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.37 billion. On average, research analysts predict that Southern Copper Co. will post 3.95 EPS for the current year.

Analyst Ratings Changes

SCCO has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. dropped their price objective on shares of Southern Copper from $63.50 to $61.00 and set an “underweight” rating on the stock in a research report on Thursday, March 21st. Scotiabank raised their price target on Southern Copper from $53.00 to $55.00 and gave the company a “sector underperform” rating in a research note on Thursday, April 18th. HSBC downgraded Southern Copper from a “hold” rating to a “reduce” rating and set a $80.00 price target for the company. in a report on Monday. The Goldman Sachs Group increased their price objective on Southern Copper from $61.00 to $82.00 and gave the company a “sell” rating in a report on Friday, March 22nd. Finally, Jefferies Financial Group upgraded Southern Copper from a “hold” rating to a “buy” rating and boosted their target price for the stock from $91.00 to $130.00 in a research note on Friday, March 22nd. Five equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $76.00.

About Southern Copper

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.