Convergence Investment Partners LLC Reduces Holdings in Southern Copper Co. (NYSE:SCCO)

Convergence Investment Partners LLC trimmed its position in shares of Southern Copper Co. (NYSE:SCCO) by 10.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,805 shares of the basic materials company’s stock after selling 1,911 shares during the quarter. Convergence Investment Partners LLC’s holdings in Southern Copper were worth $1,360,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. AE Wealth Management LLC purchased a new stake in shares of Southern Copper during the third quarter valued at $215,000. Exchange Traded Concepts LLC boosted its stake in shares of Southern Copper by 117.5% during the third 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 during the period. Security National Bank raised its holdings in shares of Southern Copper by 91.4% in the third quarter. Security National Bank now owns 12,432 shares of the basic materials company’s stock valued at $932,000 after acquiring an additional 5,938 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of Southern Copper by 4.8% in the third quarter. Commonwealth Equity Services LLC now owns 22,268 shares of the basic materials company’s stock valued at $1,677,000 after acquiring an additional 1,030 shares in the last quarter. Finally, Ulland Investment Advisors LLC bought a new stake in shares of Southern Copper in the third quarter valued at about $200,000. 7.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on SCCO shares. CICC Research started coverage on Southern Copper in a report on Wednesday. They issued an “outperform” rating for the company. The Goldman Sachs Group lifted 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. StockNews.com downgraded Southern Copper from a “buy” rating to a “hold” rating in a report on Monday, February 5th. Scotiabank boosted their target price 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. Finally, JPMorgan Chase & Co. reduced their target price on shares of Southern Copper from $63.50 to $61.00 and set an “underweight” rating for the company in a report on Thursday, March 21st. Five equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Southern Copper presently has an average rating of “Hold” and a consensus target price of $76.00.

Southern Copper Stock Up 4.6 %

Shares of SCCO traded up $5.12 during mid-day trading on Friday, hitting $116.94. 2,292,665 shares of the company traded hands, compared to its average volume of 1,270,441. Southern Copper Co. has a 1-year low of $64.66 and a 1-year high of $120.37. The company has a quick ratio of 2.46, a current ratio of 3.19 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $90.41 billion, a PE ratio of 38.47, a price-to-earnings-growth ratio of 3.35 and a beta of 1.29. The business has a 50 day moving average of $99.81 and a 200 day moving average of $85.62.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings data on Friday, February 2nd. The basic materials company reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.15). The company had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.37 billion. Southern Copper had a net margin of 24.51% and a return on equity of 30.85%. Equities research analysts anticipate that Southern Copper Co. will post 3.95 EPS for the current year.

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.