Southern Copper Co. (NYSE:SCCO) Shares Sold by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. lessened its holdings in Southern Copper Co. (NYSE:SCCO) by 2.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,640 shares of the basic materials company’s stock after selling 143 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Southern Copper were worth $605,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in SCCO. JPMorgan Chase & Co. raised its position in Southern Copper by 74.6% in the third quarter. JPMorgan Chase & Co. now owns 1,402,983 shares of the basic materials company’s stock worth $162,283,000 after acquiring an additional 599,610 shares in the last quarter. Itau Unibanco Holding S.A. increased its stake in Southern Copper by 115,910.7% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 336,431 shares of the basic materials company’s stock worth $38,915,000 after purchasing an additional 336,141 shares in the last quarter. Fisher Asset Management LLC grew its stake in Southern Copper by 10.6% during the 3rd quarter. Fisher Asset Management LLC now owns 2,963,572 shares of the basic materials company’s stock valued at $342,796,000 after acquiring an additional 283,562 shares in the last quarter. International Assets Investment Management LLC grew its stake in Southern Copper by 11,510.5% during the 3rd quarter. International Assets Investment Management LLC now owns 189,716 shares of the basic materials company’s stock valued at $21,944,000 after acquiring an additional 188,082 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in shares of Southern Copper by 1,601.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 192,571 shares of the basic materials company’s stock valued at $22,275,000 after buying an additional 181,252 shares in the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Southern Copper Trading Up 0.7 %

Shares of SCCO opened at $98.10 on Tuesday. The company has a quick ratio of 2.31, a current ratio of 2.77 and a debt-to-equity ratio of 0.64. Southern Copper Co. has a 12-month low of $77.42 and a 12-month high of $129.79. The firm has a market capitalization of $77.06 billion, a PE ratio of 25.25, a price-to-earnings-growth ratio of 1.49 and a beta of 1.14. The stock’s fifty day simple moving average is $97.79 and its 200-day simple moving average is $104.10.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SCCO. Scotiabank reduced their target price on Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating for the company in a report on Tuesday, October 15th. Morgan Stanley upgraded Southern Copper from an “underweight” rating to an “equal weight” rating and lowered their price objective for the company 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 upped their price target on Southern Copper from $99.44 to $100.00 and gave the company a “sell” rating in a research report on Wednesday, October 2nd. Four research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $94.81.

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.