Nuveen Asset Management LLC decreased its holdings in shares of Southern Copper Corp (NYSE:SCCO) by 2.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 423,746 shares of the basic materials company’s stock after selling 12,024 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.05% of Southern Copper worth $16,852,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of SCCO. Fisher Asset Management LLC lifted its stake in Southern Copper by 31.5% during the second quarter. Fisher Asset Management LLC now owns 4,475,097 shares of the basic materials company’s stock worth $177,975,000 after purchasing an additional 1,071,165 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Southern Copper by 90.4% during the second quarter. Goldman Sachs Group Inc. now owns 1,716,839 shares of the basic materials company’s stock worth $68,279,000 after purchasing an additional 814,913 shares during the last quarter. Morgan Stanley lifted its stake in Southern Copper by 195.4% during the first quarter. Morgan Stanley now owns 1,126,056 shares of the basic materials company’s stock worth $31,710,000 after purchasing an additional 744,818 shares during the last quarter. Wellington Management Group LLP lifted its stake in Southern Copper by 167.9% in the first quarter. Wellington Management Group LLP now owns 516,468 shares of the basic materials company’s stock valued at $14,544,000 after buying an additional 323,673 shares during the last quarter. Finally, 1832 Asset Management L.P. purchased a new stake in Southern Copper in the first quarter valued at approximately $7,253,000. Hedge funds and other institutional investors own 6.94% of the company’s stock.

Shares of SCCO stock opened at $44.48 on Monday. The business’s fifty day moving average price is $46.29 and its 200 day moving average price is $37.72. Southern Copper Corp has a 1-year low of $23.43 and a 1-year high of $49.19. The firm has a market capitalization of $34.39 billion, a PE ratio of 29.26, a P/E/G ratio of 2.17 and a beta of 1.14. The company has a debt-to-equity ratio of 0.95, a current ratio of 4.33 and a quick ratio of 3.23.

Southern Copper (NYSE:SCCO) last announced its quarterly earnings data on Tuesday, July 28th. The basic materials company reported $0.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.07. The firm had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.22 billion. Southern Copper had a return on equity of 17.10% and a net margin of 16.20%. Equities research analysts expect that Southern Copper Corp will post 1.5 earnings per share for the current fiscal year.

A number of brokerages have weighed in on SCCO. Goldman Sachs Group cut Southern Copper from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $47.00 to $41.00 in a research note on Tuesday, June 16th. Citigroup cut Southern Copper from a “buy” rating to a “sell” rating in a research note on Monday, June 8th. JPMorgan Chase & Co. cut Southern Copper from a “neutral” rating to an “underweight” rating and boosted their price objective for the company from $27.00 to $33.00 in a research note on Monday, June 22nd. Zacks Investment Research cut Southern Copper from a “strong-buy” rating to a “hold” rating and set a $49.00 price objective for the company. in a research note on Tuesday, September 22nd. Finally, Morgan Stanley lowered Southern Copper from an “equal weight” rating to an “underweight” rating and boosted their target price for the company from $37.00 to $38.00 in a report on Tuesday, August 4th. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $38.57.

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 1,400 shares of the business’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $45.10, for a total transaction of $63,140.00. Following the sale, the director now directly owns 9,014 shares in the company, valued at $406,531.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.46% of the stock is currently owned by insiders.

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 and lead.

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Institutional Ownership by Quarter for Southern Copper (NYSE:SCCO)

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