Bailard Inc. Takes Position in Southern Copper Co. (NYSE:SCCO)

Bailard Inc. bought a new position in Southern Copper Co. (NYSE:SCCO) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 3,790 shares of the basic materials company’s stock, valued at approximately $326,000.

A number of other large investors have also recently made changes to their positions in the company. AQR Capital Management LLC increased its holdings in Southern Copper by 7.0% during the 3rd quarter. AQR Capital Management LLC now owns 80,682 shares of the basic materials company’s stock worth $6,075,000 after purchasing an additional 5,296 shares during the period. Tyche Wealth Partners LLC purchased a new stake in Southern Copper in the fourth quarter worth about $1,668,000. Raymond James Financial Services Advisors Inc. grew its holdings in Southern Copper by 119.8% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 41,223 shares of the basic materials company’s stock worth $3,548,000 after acquiring an additional 22,471 shares in the last quarter. Viking Fund Management LLC purchased a new position in Southern Copper during the 4th quarter valued at about $31,000. Finally, Ameriprise Financial Inc. raised its holdings in shares of Southern Copper by 17.5% in the 3rd quarter. Ameriprise Financial Inc. now owns 687,501 shares of the basic materials company’s stock valued at $51,854,000 after purchasing an additional 102,286 shares in the last quarter. 7.94% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on SCCO. JPMorgan Chase & Co. dropped their target price on Southern Copper from $63.50 to $61.00 and set an “underweight” rating on the stock in a research report on Thursday, March 21st. Scotiabank raised their price target on Southern Copper from $53.00 to $55.00 and gave the stock a “sector underperform” rating in a report on Thursday, April 18th. StockNews.com downgraded shares of Southern Copper from a “buy” rating to a “hold” rating in a report on Monday, February 5th. HSBC lowered shares of Southern Copper from a “hold” rating to a “reduce” rating and set a $80.00 price objective for the company. in a research report on Monday, April 22nd. Finally, CICC Research began coverage on shares of Southern Copper in a research note on Wednesday, April 24th. They set an “outperform” rating on the stock. Five investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Southern Copper currently has an average rating of “Hold” and an average target price of $76.00.

Southern Copper Price Performance

Shares of NYSE SCCO opened at $116.94 on Monday. Southern Copper Co. has a 52 week low of $64.66 and a 52 week 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 firm has a market cap of $90.41 billion, a P/E ratio of 38.47, a P/E/G ratio of 3.35 and a beta of 1.29. The business’s 50 day moving average price is $99.81 and its 200 day moving average price is $85.70.

Southern Copper (NYSE:SCCO) last released its quarterly earnings data on Friday, February 2nd. The basic materials company reported $0.58 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.15). Southern Copper had a net margin of 24.20% and a return on equity of 30.29%. The business had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.37 billion. On average, sell-side analysts expect that Southern Copper Co. will post 3.95 earnings per share 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.