RWC Asset Advisors US LLC Has $45.49 Million Stake in Southern Copper Co. (NYSE:SCCO)

RWC Asset Advisors US LLC lessened its holdings in shares of Southern Copper Co. (NYSE:SCCO) by 8.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 528,503 shares of the basic materials company’s stock after selling 47,546 shares during the quarter. Southern Copper accounts for approximately 3.6% of RWC Asset Advisors US LLC’s portfolio, making the stock its 10th largest position. RWC Asset Advisors US LLC’s holdings in Southern Copper were worth $45,488,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of SCCO. Hartford Financial Management Inc. bought a new stake in Southern Copper during the 3rd quarter valued at $25,000. Viking Fund Management LLC purchased a new position in Southern Copper during the 4th quarter worth $31,000. Venturi Wealth Management LLC boosted its holdings in Southern Copper by 164.8% during the 4th quarter. Venturi Wealth Management LLC now owns 482 shares of the basic materials company’s stock worth $41,000 after acquiring an additional 300 shares during the last quarter. Washington Trust Advisors Inc. purchased a new position in Southern Copper during the 4th quarter worth $45,000. Finally, Planned Solutions Inc. purchased a new position in Southern Copper during the 4th quarter worth $88,000. Institutional investors own 7.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SCCO. JPMorgan Chase & Co. cut their price objective on shares of Southern Copper from $63.50 to $61.00 and set an “underweight” rating on the stock in a report on Thursday, March 21st. CICC Research began coverage on shares of Southern Copper in a report on Wednesday. They set an “outperform” rating on the stock. The Goldman Sachs Group lifted their price objective on shares of Southern Copper from $61.00 to $82.00 and gave the stock a “sell” rating in a report on Friday, March 22nd. StockNews.com downgraded shares of Southern Copper from a “buy” rating to a “hold” rating in a report on Monday, February 5th. Finally, Scotiabank boosted their price target on shares of Southern Copper from $53.00 to $55.00 and gave the stock a “sector underperform” rating in a report on Thursday, April 18th. Five investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Southern Copper has a consensus rating of “Hold” and an average price target of $76.00.

Southern Copper Stock Performance

Shares of NYSE:SCCO traded up $5.12 during midday trading on Friday, reaching $116.94. The company had a trading volume of 2,292,665 shares, compared to its average volume of 1,270,441. The company’s 50 day moving average price is $99.81 and its 200 day moving average price is $85.55. The company has a current ratio of 3.19, a quick ratio of 2.46 and a debt-to-equity ratio of 0.84. The stock has a market cap of $90.41 billion, a P/E ratio of 37.24, a P/E/G ratio of 3.20 and a beta of 1.29. Southern Copper Co. has a 52-week low of $64.66 and a 52-week high of $120.37.

Southern Copper (NYSE:SCCO) last announced its quarterly earnings data on Friday, February 2nd. The basic materials company reported $0.58 earnings per share (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 firm had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.37 billion. As a group, sell-side analysts anticipate that Southern Copper Co. will post 3.95 EPS for the current fiscal year.

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.