Stevens Capital Management LP Buys New Shares in Southern Copper Co. (NYSE:SCCO)

Stevens Capital Management LP bought a new stake in Southern Copper Co. (NYSE:SCCO) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 5,526 shares of the basic materials company’s stock, valued at approximately $476,000.

Other hedge funds have also added to or reduced their stakes in the company. Bailard Inc. acquired a new stake in Southern Copper in the fourth quarter valued at $326,000. Cumberland Partners Ltd acquired a new stake in Southern Copper in the fourth quarter valued at $1,947,000. CWM LLC lifted its stake in Southern Copper by 3.3% in the fourth quarter. CWM LLC now owns 4,329 shares of the basic materials company’s stock valued at $373,000 after acquiring an additional 137 shares during the last quarter. abrdn plc lifted its stake in Southern Copper by 2.3% in the fourth quarter. abrdn plc now owns 3,041,233 shares of the basic materials company’s stock valued at $261,759,000 after acquiring an additional 67,930 shares during the last quarter. Finally, Vantage Investment Partners LLC lifted its stake in Southern Copper by 1.5% in the fourth quarter. Vantage Investment Partners LLC now owns 171,495 shares of the basic materials company’s stock valued at $14,761,000 after acquiring an additional 2,511 shares during the last quarter. Institutional investors own 7.94% of the company’s stock.

Wall Street Analysts Forecast Growth

SCCO has been the subject of a number of recent analyst reports. Jefferies Financial Group upgraded shares of Southern Copper from a “hold” rating to a “buy” rating and increased their price target for the company from $91.00 to $130.00 in a research note on Friday, March 22nd. CICC Research started coverage on shares of Southern Copper in a research note on Wednesday. They set an “outperform” rating for the company. Scotiabank raised their target price on shares of Southern Copper from $53.00 to $55.00 and gave the stock a “sector underperform” rating in a research note on Thursday, April 18th. StockNews.com cut shares of Southern Copper from a “buy” rating to a “hold” rating in a research note on Monday, February 5th. Finally, The Goldman Sachs Group raised their target price on shares of Southern Copper from $61.00 to $82.00 and gave the stock a “sell” rating in a research note on Friday, March 22nd. Five equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $76.00.

Southern Copper Stock Performance

NYSE SCCO traded up $2.61 during trading on Thursday, reaching $111.84. The company’s stock had a trading volume of 1,481,471 shares, compared to its average volume of 1,135,334. The company has a current ratio of 3.19, a quick ratio of 2.46 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $86.46 billion, a price-to-earnings ratio of 34.77, a price-to-earnings-growth ratio of 3.14 and a beta of 1.29. Southern Copper Co. has a 12 month low of $64.66 and a 12 month high of $120.37. The firm has a 50 day moving average price of $98.56 and a 200 day moving average price of $85.07.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings data on Friday, February 2nd. The basic materials company reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.15). The business had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.37 billion. Southern Copper had a net margin of 24.51% and a return on equity of 30.85%. As a group, equities analysts anticipate that Southern Copper Co. will post 3.95 EPS for the current fiscal year.

About Southern Copper

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.