Advocate Group LLC Sells 1,673 Shares of Southern Copper Co. (NYSE:SCCO)

Advocate Group LLC lowered its position in Southern Copper Co. (NYSE:SCCO) by 4.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 38,108 shares of the basic materials company’s stock after selling 1,673 shares during the quarter. Advocate Group LLC’s holdings in Southern Copper were worth $3,473,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of SCCO. Creative Financial Designs Inc. ADV grew its holdings in Southern Copper by 172.0% during 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 period. McClarren Financial Advisors Inc. lifted its position 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 in the last quarter. Oakworth Capital Inc. purchased a new stake in shares of Southern Copper in the third quarter worth about $42,000. Prospera Private Wealth LLC purchased a new stake in shares of Southern Copper in the third quarter worth about $47,000. Finally, Larson Financial Group LLC lifted its position in shares of Southern Copper by 578.3% in the third quarter. Larson Financial Group LLC now owns 407 shares of the basic materials company’s stock worth $47,000 after buying an additional 347 shares in the last quarter. Institutional investors own 7.94% of the company’s stock.

Analysts Set New Price Targets

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

Southern Copper Stock Down 0.7 %

Shares of NYSE:SCCO opened at $96.52 on Friday. Southern Copper Co. has a 52-week low of $77.42 and a 52-week high of $129.79. The stock has a market cap of $75.82 billion, a P/E ratio of 24.85, a price-to-earnings-growth ratio of 1.92 and a beta of 1.14. The business’s 50 day moving average is $97.37 and its 200 day moving average is $103.61. 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 (NYSE:SCCO) last announced its quarterly earnings data on Tuesday, October 22nd. The basic materials company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.03. Southern Copper had a return on equity of 37.11% and a net margin of 27.67%. The company had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.94 billion. Sell-side analysts predict that Southern Copper Co. will post 4.4 EPS for the current year.

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.