Cerity Partners LLC Invests $261,000 in Southern Copper Co. (NYSE:SCCO)

Cerity Partners LLC bought a new position in shares of Southern Copper Co. (NYSE:SCCO) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 3,036 shares of the basic materials company’s stock, valued at approximately $261,000.

Other institutional investors have also modified their holdings of the company. Hartford Financial Management Inc. purchased a new position in shares of Southern Copper during the third quarter worth approximately $25,000. Viking Fund Management LLC purchased a new position in Southern Copper during the fourth quarter valued at approximately $31,000. Venturi Wealth Management LLC increased its holdings in Southern Copper by 164.8% during the fourth quarter. Venturi Wealth Management LLC now owns 482 shares of the basic materials company’s stock valued at $41,000 after buying an additional 300 shares during the period. Washington Trust Advisors Inc. purchased a new position in Southern Copper during the fourth quarter valued at approximately $45,000. Finally, Planned Solutions Inc. purchased a new position in Southern Copper during the fourth quarter valued at approximately $88,000. 7.94% of the stock is owned by hedge funds and other institutional investors.

Southern Copper Price Performance

NYSE SCCO opened at $116.94 on Monday. The firm’s fifty day simple moving average is $99.81 and its two-hundred day simple moving average is $85.70. The company has a current ratio of 3.19, a quick ratio of 2.46 and a debt-to-equity ratio of 0.84. Southern Copper Co. has a 12-month low of $64.66 and a 12-month high of $120.37. The firm has a market capitalization 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.

Southern Copper (NYSE:SCCO) last posted 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 return on equity of 30.85% and a net margin of 24.51%. The company had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.37 billion. Analysts forecast that Southern Copper Co. will post 3.95 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. CICC Research assumed coverage on shares of Southern Copper in a report on Wednesday, April 24th. They set an “outperform” rating on the stock. JPMorgan Chase & Co. cut their price objective on shares of Southern Copper from $63.50 to $61.00 and set an “underweight” rating on the stock in a report on Thursday, March 21st. StockNews.com lowered 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 target on the stock. in a report on Monday, April 22nd. Finally, Scotiabank lifted their price target on shares of Southern Copper from $53.00 to $55.00 and gave the stock a “sector underperform” rating in a report on Thursday, April 18th. Five equities research 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $76.00.

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.