Avantax Advisory Services Inc. Grows Position in Southern Copper Co. (NYSE:SCCO)

Avantax Advisory Services Inc. raised its holdings in shares of Southern Copper Co. (NYSE:SCCOGet Rating) by 21.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,378 shares of the basic materials company’s stock after purchasing an additional 2,751 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Southern Copper were worth $690,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Captrust Financial Advisors lifted its holdings in Southern Copper by 4.6% during the first quarter. Captrust Financial Advisors now owns 4,488 shares of the basic materials company’s stock valued at $341,000 after purchasing an additional 196 shares during the last quarter. American Research & Management Co. lifted its holdings in Southern Copper by 42.3% during the third quarter. American Research & Management Co. now owns 740 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 220 shares during the last quarter. Truist Financial Corp lifted its holdings in Southern Copper by 4.7% during the third quarter. Truist Financial Corp now owns 5,430 shares of the basic materials company’s stock valued at $243,000 after purchasing an additional 242 shares during the last quarter. Advisory Services Network LLC lifted its holdings in Southern Copper by 5.0% during the first quarter. Advisory Services Network LLC now owns 5,144 shares of the basic materials company’s stock valued at $390,000 after purchasing an additional 243 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its holdings in Southern Copper by 35.0% during the first quarter. Lazard Asset Management LLC now owns 1,018 shares of the basic materials company’s stock valued at $77,000 after purchasing an additional 264 shares during the last quarter. 7.03% of the stock is owned by hedge funds and other institutional investors.

Southern Copper Trading Down 1.5 %

Shares of SCCO opened at $75.05 on Monday. The firm’s 50 day simple moving average is $63.45 and its 200 day simple moving average is $53.53. The company has a market capitalization of $58.02 billion, a P/E ratio of 22.54 and a beta of 1.12. The company has a debt-to-equity ratio of 0.82, a current ratio of 3.34 and a quick ratio of 2.63. Southern Copper Co. has a 1-year low of $42.42 and a 1-year high of $79.32.

Southern Copper (NYSE:SCCOGet Rating) last issued its quarterly earnings results on Friday, October 28th. The basic materials company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.12. Southern Copper had a net margin of 25.56% and a return on equity of 32.37%. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.32 billion. Sell-side analysts forecast that Southern Copper Co. will post 3.07 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SCCO has been the topic of a number of recent analyst reports. StockNews.com raised shares of Southern Copper from a “hold” rating to a “buy” rating in a report on Friday, November 11th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Southern Copper from $45.00 to $50.00 in a report on Tuesday, January 10th. Grupo Santander raised shares of Southern Copper from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $60.00 to $69.00 in a report on Monday, November 28th. Citigroup increased their price target on shares of Southern Copper from $40.00 to $60.00 in a report on Wednesday, January 11th. Finally, Wolfe Research raised shares of Southern Copper from an “underperform” rating to a “peer perform” rating in a report on Wednesday, January 11th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $58.00.

Southern Copper Company Profile

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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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