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

SG Americas Securities LLC lifted its position in shares of Southern Copper Co. (NYSE:SCCO) by 1,322.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 99,606 shares of the basic materials company’s stock after acquiring an additional 92,605 shares during the period. 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.

Other large investors have also made changes to their positions in the company. Nisa Investment Advisors LLC boosted its stake in Southern Copper by 0.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 24,426 shares of the basic materials company’s stock valued at $2,226,000 after buying an additional 144 shares in the last quarter. Atomi Financial Group Inc. lifted its holdings in shares of Southern Copper by 1.5% in the fourth quarter. Atomi Financial Group Inc. now owns 9,509 shares of the basic materials company’s stock worth $867,000 after acquiring an additional 145 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Southern Copper by 30.7% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 893 shares of the basic materials company’s stock valued at $81,000 after purchasing an additional 210 shares in the last quarter. RoundAngle Advisors LLC bought a new stake in shares of Southern Copper during the 4th quarter valued at approximately $1,200,000. Finally, Ameritas Advisory Services LLC increased its position in Southern Copper by 18.2% during the 4th quarter. Ameritas Advisory Services LLC now owns 3,500 shares of the basic materials company’s stock worth $319,000 after purchasing an additional 538 shares in the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Analyst Upgrades and Downgrades

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

Southern Copper Stock Up 0.9 %

Shares of SCCO opened at $97.20 on Friday. The company has a market capitalization of $76.36 billion, a PE ratio of 25.02, a PEG ratio of 1.96 and a beta of 1.14. The stock’s 50-day moving average price is $97.49 and its two-hundred day moving average price is $103.80. The company has a current ratio of 2.77, a quick ratio of 2.31 and a debt-to-equity ratio of 0.64. Southern Copper Co. has a 12 month low of $77.42 and a 12 month high of $129.79.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings data on Tuesday, October 22nd. The basic materials company reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.03. The company had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.94 billion. Southern Copper had a return on equity of 37.11% and a net margin of 27.67%. On average, analysts anticipate that Southern Copper Co. will post 4.4 EPS for the current year.

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.