RWC Asset Advisors US LLC Has $45.49 Million Position in Southern Copper Co. (NYSE:SCCO)

RWC Asset Advisors US LLC cut its stake in Southern Copper Co. (NYSE:SCCO) by 8.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 528,503 shares of the basic materials company’s stock after selling 47,546 shares during the period. Southern Copper accounts for about 3.6% of RWC Asset Advisors US LLC’s investment portfolio, making the stock its 10th biggest position. RWC Asset Advisors US LLC owned approximately 0.07% of Southern Copper worth $45,488,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of SCCO. Kovack Advisors Inc. raised its stake in shares of Southern Copper by 3.8% during the fourth quarter. Kovack Advisors Inc. now owns 4,978 shares of the basic materials company’s stock worth $428,000 after buying an additional 184 shares during the last quarter. Semanteon Capital Management LP bought a new stake in shares of Southern Copper during the fourth quarter worth approximately $296,000. Stevens Capital Management LP bought a new stake in shares of Southern Copper during the fourth quarter worth approximately $476,000. Bailard Inc. bought a new stake in shares of Southern Copper during the fourth quarter worth approximately $326,000. Finally, Cumberland Partners Ltd bought a new stake in shares of Southern Copper during the fourth quarter worth approximately $1,947,000. 7.94% of the stock is owned by institutional investors.

Analyst Ratings Changes

SCCO has been the subject of several recent analyst reports. Jefferies Financial Group raised shares of Southern Copper from a “hold” rating to a “buy” rating and upped their target price for the company from $91.00 to $130.00 in a research note on Friday, March 22nd. CICC Research initiated coverage on shares of Southern Copper in a research note on Wednesday. They issued an “outperform” rating for the company. StockNews.com downgraded shares of Southern Copper from a “buy” rating to a “hold” rating in a research note on Monday, February 5th. Scotiabank upped their target price on shares of Southern Copper from $53.00 to $55.00 and gave the company a “sector underperform” rating in a research note on Thursday, April 18th. Finally, HSBC downgraded shares of Southern Copper from a “hold” rating to a “reduce” rating and set a $80.00 target price for the company. in a research note on Monday, April 22nd. Five 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 stock. According to MarketBeat, Southern Copper currently has a consensus rating of “Hold” and an average price target of $76.00.

Southern Copper Stock Up 4.6 %

Shares of Southern Copper stock traded up $5.12 on Friday, hitting $116.94. The company had a trading volume of 2,292,665 shares, compared to its average volume of 1,270,441. The firm has a market capitalization of $90.41 billion, a P/E ratio of 37.24, a P/E/G ratio of 3.20 and a beta of 1.29. Southern Copper Co. has a twelve month low of $64.66 and a twelve month high of $120.37. The company has a debt-to-equity ratio of 0.84, a current ratio of 3.19 and a quick ratio of 2.46. The stock has a 50-day moving average of $99.81 and a 200-day moving average of $85.55.

Southern Copper (NYSE:SCCO) last released its quarterly earnings results 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 during the quarter, compared to analyst estimates of $2.37 billion. Research analysts predict that Southern Copper Co. will post 3.95 earnings per share for the current year.

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.