Advocate Group LLC Reduces Holdings in Southern Copper Co. (NYSE:SCCO)

Advocate Group LLC lessened its position in shares of Southern Copper Co. (NYSE:SCCO) by 4.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,108 shares of the basic materials company’s stock after selling 1,673 shares during the period. Advocate Group LLC’s holdings in Southern Copper were worth $3,473,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Creative Financial Designs Inc. ADV lifted its holdings in Southern Copper by 172.0% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 223 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 141 shares in the last quarter. McClarren Financial Advisors Inc. raised its holdings in shares of Southern Copper by 169.2% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 288 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 181 shares in the last quarter. Oakworth Capital Inc. purchased a new stake in shares of Southern Copper in the 3rd quarter valued at about $42,000. Larson Financial Group LLC raised its holdings in shares of Southern Copper by 578.3% in the 3rd quarter. Larson Financial Group LLC now owns 407 shares of the basic materials company’s stock valued at $47,000 after acquiring an additional 347 shares in the last quarter. Finally, Prospera Private Wealth LLC purchased a new stake in shares of Southern Copper in the 3rd quarter valued at about $47,000. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SCCO. 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. Morgan Stanley upgraded Southern Copper from an “underweight” rating to an “equal weight” rating and reduced their price target for the stock from $106.30 to $102.00 in a research report on Thursday, December 12th. JPMorgan Chase & Co. upgraded Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price objective on the stock in a research report on Monday, December 2nd. Finally, Citigroup lifted their price objective on Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a research report on Wednesday, October 2nd. Four analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Southern Copper presently has a consensus rating of “Hold” and an average target price of $94.81.

Southern Copper Trading Down 0.7 %

SCCO opened at $96.52 on Friday. The stock has a market cap of $75.82 billion, a PE ratio of 24.85, a PEG ratio of 1.92 and a beta of 1.14. The company has a quick ratio of 2.31, a current ratio of 2.77 and a debt-to-equity ratio of 0.64. The business has a 50 day moving average of $97.37 and a 200-day moving average of $103.61. Southern Copper Co. has a 52 week low of $77.42 and a 52 week high of $129.79.

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