Cwm LLC Lowers Stake in Southern Copper Co. (NYSE:SCCO)

Cwm LLC decreased its position in shares of Southern Copper Co. (NYSE:SCCO) by 2.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 4,362 shares of the basic materials company’s stock after selling 112 shares during the period. Cwm LLC’s holdings in Southern Copper were worth $505,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of SCCO. HighPoint Advisor Group LLC purchased a new position in shares of Southern Copper during the 4th quarter worth $243,000. Nomura Holdings Inc. acquired a new stake in Southern Copper in the 4th quarter worth about $450,000. Wedmont Private Capital purchased a new stake in Southern Copper in the 1st quarter valued at about $247,000. Ballentine Partners LLC increased its stake in shares of Southern Copper by 5.4% during the 1st quarter. Ballentine Partners LLC now owns 3,025 shares of the basic materials company’s stock valued at $322,000 after acquiring an additional 154 shares during the last quarter. Finally, Riverview Trust Co purchased a new position in shares of Southern Copper during the 1st quarter worth about $27,000. Institutional investors and hedge funds own 7.94% of the company’s stock.

Southern Copper Stock Performance

Shares of NYSE:SCCO opened at $112.90 on Friday. The company has a market cap of $88.19 billion, a P/E ratio of 32.02, a PEG ratio of 1.27 and a beta of 1.18. Southern Copper Co. has a one year low of $68.93 and a one year high of $129.79. The business’s 50-day simple moving average is $106.45 and its 200 day simple moving average is $110.08. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.27 and a current ratio of 2.81.

Southern Copper (NYSE:SCCO) last posted its earnings results on Friday, July 19th. The basic materials company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.09. The business had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $2.96 billion. Southern Copper had a net margin of 26.15% and a return on equity of 34.98%. On average, sell-side analysts forecast that Southern Copper Co. will post 4.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

SCCO has been the subject of several research analyst reports. Scotiabank dropped their price target on shares of Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating for the company in a research report on Tuesday, October 15th. Citigroup upped their price objective on Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a report on Wednesday, October 2nd. UBS Group initiated coverage on Southern Copper in a research report on Friday, July 12th. They set a “neutral” rating and a $120.00 price target for the company. Finally, Morgan Stanley raised their price objective on Southern Copper from $97.00 to $100.00 and gave the stock an “underweight” rating in a report on Thursday, September 19th. Six investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $90.63.

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.