Alaska Permanent Fund Corp Decreases Position in Southern Copper Co. (NYSE:SCCO)

Alaska Permanent Fund Corp trimmed its position in shares of Southern Copper Co. (NYSE:SCCO) by 33.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 88,863 shares of the basic materials company’s stock after selling 45,416 shares during the quarter. Alaska Permanent Fund Corp’s holdings in Southern Copper were worth $7,648,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in SCCO. Janiczek Wealth Management LLC increased its stake in Southern Copper by 11.5% in the fourth quarter. Janiczek Wealth Management LLC now owns 1,227 shares of the basic materials company’s stock valued at $106,000 after purchasing an additional 127 shares during the last quarter. CWM LLC grew its position in shares of Southern Copper by 3.3% in the 4th quarter. CWM LLC now owns 4,329 shares of the basic materials company’s stock worth $373,000 after acquiring an additional 137 shares in the last quarter. Glenmede Trust Co. NA grew its position in shares of Southern Copper by 2.7% in the 3rd quarter. Glenmede Trust Co. NA now owns 6,592 shares of the basic materials company’s stock worth $496,000 after acquiring an additional 173 shares in the last quarter. Dfpg Investments LLC boosted its position in Southern Copper by 1.4% during the 4th quarter. Dfpg Investments LLC now owns 13,188 shares of the basic materials company’s stock valued at $1,106,000 after purchasing an additional 176 shares during the period. Finally, Ronald Blue Trust Inc. boosted its position in Southern Copper by 43.7% during the 3rd quarter. Ronald Blue Trust Inc. now owns 602 shares of the basic materials company’s stock valued at $44,000 after purchasing an additional 183 shares during the period. 7.94% of the stock is currently owned by hedge funds and other institutional investors.

Southern Copper Trading Up 0.5 %

SCCO stock traded up $0.54 during midday trading on Thursday, hitting $109.77. The stock had a trading volume of 92,995 shares, compared to its average volume of 1,118,080. The firm has a market cap of $84.86 billion, a P/E ratio of 34.79, a price-to-earnings-growth ratio of 3.14 and a beta of 1.29. 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 1-year low of $64.66 and a 1-year high of $120.37. The business has a fifty day moving average price of $98.56 and a two-hundred day moving average price of $85.07.

Southern Copper (NYSE:SCCO) last announced its quarterly earnings data on Friday, February 2nd. The basic materials company reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.15). Southern Copper had a net margin of 24.51% and a return on equity of 30.85%. The company had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.37 billion. On average, sell-side analysts predict that Southern Copper Co. will post 3.95 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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