Envestnet Asset Management Inc. Increases Stock Position in Southern Copper Co. (NYSE:SCCO)

Envestnet Asset Management Inc. grew its stake in Southern Copper Co. (NYSE:SCCO) by 2.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 27,948 shares of the basic materials company’s stock after acquiring an additional 745 shares during the period. Envestnet Asset Management Inc.’s holdings in Southern Copper were worth $2,547,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. purchased a new stake in Southern Copper in the fourth quarter valued at approximately $30,000. Deseret Mutual Benefit Administrators grew its stake in shares of Southern Copper by 210.7% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 379 shares of the basic materials company’s stock valued at $35,000 after buying an additional 257 shares in the last quarter. IFP Advisors Inc raised its holdings in shares of Southern Copper by 143.4% in the 4th quarter. IFP Advisors Inc now owns 477 shares of the basic materials company’s stock valued at $43,000 after buying an additional 281 shares during the period. Spire Wealth Management acquired a new position in Southern Copper during the 4th quarter worth about $47,000. Finally, Larson Financial Group LLC boosted its holdings in Southern Copper by 28.0% during the 4th quarter. Larson Financial Group LLC now owns 521 shares of the basic materials company’s stock valued at $48,000 after acquiring an additional 114 shares during the period. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Southern Copper Stock Down 1.7 %

Southern Copper stock opened at $94.18 on Friday. The stock’s fifty day moving average is $90.73 and its two-hundred day moving average is $97.24. The stock has a market cap of $74.98 billion, a PE ratio of 21.80, a P/E/G ratio of 1.90 and a beta of 1.04. Southern Copper Co. has a 1-year low of $74.84 and a 1-year high of $127.34. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.77 and a quick ratio of 2.31.

Southern Copper (NYSE:SCCO) last posted its earnings results on Friday, April 25th. The basic materials company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.14. Southern Copper had a return on equity of 40.27% and a net margin of 29.53%. The firm had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.05 billion. On average, sell-side analysts expect that Southern Copper Co. will post 4.66 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. UBS Group cut their price target on shares of Southern Copper from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. JPMorgan Chase & Co. cut their target price on shares of Southern Copper from $84.00 to $83.50 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Hsbc Global Res raised shares of Southern Copper from a “moderate sell” rating to a “hold” rating in a research report on Thursday. Finally, Scotiabank upped their price objective on Southern Copper from $52.00 to $72.00 and gave the stock a “sector underperform” rating in a research report on Monday, March 10th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Southern Copper has a consensus rating of “Hold” and a consensus price target of $91.50.

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.