Vontobel Holding Ltd. Purchases 11,958 Shares of Southern Copper Co. (NYSE:SCCO)

Vontobel Holding Ltd. grew its position in Southern Copper Co. (NYSE:SCCO) by 215.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 17,506 shares of the basic materials company’s stock after buying an additional 11,958 shares during the period. Vontobel Holding Ltd.’s holdings in Southern Copper were worth $2,025,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Capital World Investors acquired a new position in Southern Copper in the first quarter valued at about $340,373,000. Price T Rowe Associates Inc. MD grew its position in shares of Southern Copper by 18.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,771,332 shares of the basic materials company’s stock valued at $827,804,000 after purchasing an additional 1,192,111 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in Southern Copper by 54.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,541,396 shares of the basic materials company’s stock worth $164,190,000 after purchasing an additional 544,312 shares in the last quarter. Los Angeles Capital Management LLC raised its holdings in Southern Copper by 1,300.4% during the 2nd quarter. Los Angeles Capital Management LLC now owns 443,285 shares of the basic materials company’s stock worth $47,760,000 after buying an additional 411,630 shares during the period. Finally, Lord Abbett & CO. LLC acquired a new position in shares of Southern Copper in the first quarter valued at approximately $27,163,000. Institutional investors own 7.94% of the company’s stock.

Analysts Set New Price Targets

SCCO has been the topic of a number of research analyst reports. Citigroup raised their price objective on shares of Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a report on Wednesday, October 2nd. Scotiabank reduced their price objective on 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. UBS Group initiated coverage on Southern Copper in a research report on Friday, July 12th. They issued a “neutral” rating and a $120.00 target price on the stock. Finally, Morgan Stanley upped their price target on Southern Copper from $97.00 to $100.00 and gave the stock an “underweight” rating in a research report on Thursday, September 19th. Six 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 MarketBeat.com, Southern Copper has an average rating of “Hold” and an average price target of $90.63.

Southern Copper Trading Up 0.8 %

Shares of Southern Copper stock opened at $112.90 on Friday. The stock has a market cap of $88.19 billion, a P/E ratio of 32.02, a P/E/G ratio of 1.27 and a beta of 1.18. The company has a quick ratio of 2.27, a current ratio of 2.81 and a debt-to-equity ratio of 0.67. Southern Copper Co. has a 12-month low of $68.93 and a 12-month high of $129.79. The business’s 50 day moving average is $106.45 and its 200-day moving average is $110.08.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings results on Friday, July 19th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.09. The firm had revenue of $3.12 billion for the quarter, compared to analyst estimates of $2.96 billion. Southern Copper had a net margin of 26.15% and a return on equity of 34.98%. Equities research analysts predict that Southern Copper Co. will post 4.45 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.