Ulland Investment Advisors LLC Reduces Stock Position in Southern Copper Co. (NYSE:SCCO)

Ulland Investment Advisors LLC cut its position in Southern Copper Co. (NYSE:SCCO) by 26.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,781 shares of the basic materials company’s stock after selling 646 shares during the period. Ulland Investment Advisors LLC’s holdings in Southern Copper were worth $162,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Creative Financial Designs Inc. ADV boosted its holdings in Southern Copper by 172.0% in the third quarter. Creative Financial Designs Inc. ADV now owns 223 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 141 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new position in shares of Southern Copper in the 2nd quarter valued at about $31,000. McClarren Financial Advisors Inc. boosted its stake in shares of Southern Copper by 169.2% in the third quarter. McClarren Financial Advisors Inc. now owns 288 shares of the basic materials company’s stock worth $33,000 after buying an additional 181 shares during the last quarter. Oakworth Capital Inc. acquired a new stake in Southern Copper during the third quarter worth about $42,000. Finally, Prospera Private Wealth LLC acquired a new position in Southern Copper in the third quarter valued at approximately $47,000. 7.94% of the stock is currently owned by hedge funds and other institutional investors.

Southern Copper Stock Up 0.7 %

SCCO opened at $98.10 on Tuesday. The company has a quick ratio of 2.31, a current ratio of 2.77 and a debt-to-equity ratio of 0.64. Southern Copper Co. has a twelve month low of $77.42 and a twelve month high of $129.79. The company has a market cap of $77.06 billion, a PE ratio of 25.25, a price-to-earnings-growth ratio of 1.95 and a beta of 1.14. The company has a 50-day moving average price of $97.79 and a 200 day moving average price of $104.10.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Scotiabank cut their target price on shares of Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating for the company in a report on Tuesday, October 15th. Citigroup lifted their price objective on shares of Southern Copper from $99.44 to $100.00 and gave the company a “sell” rating in a report on Wednesday, October 2nd. Morgan Stanley raised shares of Southern Copper from an “underweight” rating to an “equal weight” rating and lowered their target price for the stock from $106.30 to $102.00 in a research note on Thursday, December 12th. Finally, JPMorgan Chase & Co. upgraded Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price target for the company in a research note on Monday, December 2nd. Four research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $94.81.

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.