Cadence Wealth Management LLC Acquires 235 Shares of Southern Copper Co. (NYSE:SCCO)

Cadence Wealth Management LLC boosted its holdings in Southern Copper Co. (NYSE:SCCO) by 5.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,581 shares of the basic materials company’s stock after buying an additional 235 shares during the period. Southern Copper makes up about 0.3% of Cadence Wealth Management LLC’s investment portfolio, making the stock its 27th largest position. Cadence Wealth Management LLC’s holdings in Southern Copper were worth $394,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in SCCO. Canada Pension Plan Investment Board increased its position in Southern Copper by 677.0% in the 3rd quarter. Canada Pension Plan Investment Board now owns 310,500 shares of the basic materials company’s stock worth $23,378,000 after buying an additional 270,540 shares during the period. International Assets Investment Management LLC grew its holdings in shares of Southern Copper by 8,523.8% during the 4th quarter. International Assets Investment Management LLC now owns 172,907 shares of the basic materials company’s stock worth $14,882,000 after purchasing an additional 170,902 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Southern Copper by 17.5% during the 3rd quarter. Ameriprise Financial Inc. now owns 687,501 shares of the basic materials company’s stock worth $51,854,000 after purchasing an additional 102,286 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Southern Copper by 7.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,151,729 shares of the basic materials company’s stock worth $86,714,000 after purchasing an additional 80,576 shares in the last quarter. Finally, Schroder Investment Management Group grew its holdings in shares of Southern Copper by 17.5% during the 3rd quarter. Schroder Investment Management Group now owns 519,714 shares of the basic materials company’s stock worth $39,129,000 after purchasing an additional 77,518 shares in the last quarter. 7.94% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. HSBC lowered Southern Copper from a “hold” rating to a “reduce” rating and set a $80.00 price objective on the stock. in a report on Monday, April 22nd. Jefferies Financial Group raised Southern Copper from a “hold” rating to a “buy” rating and boosted their price target for the company from $91.00 to $130.00 in a research note on Friday, March 22nd. Scotiabank boosted 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. StockNews.com lowered Southern Copper from a “buy” rating to a “hold” rating in a research note on Monday, February 5th. Finally, The Goldman Sachs Group boosted their price target on Southern Copper from $61.00 to $82.00 and gave the company a “sell” rating in a research note on Friday, March 22nd. Five investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $76.00.

Southern Copper Price Performance

Southern Copper stock traded up $5.12 on Friday, reaching $116.94. The company’s stock had a trading volume of 2,292,665 shares, compared to its average volume of 1,270,441. The company has a debt-to-equity ratio of 0.84, a quick ratio of 2.46 and a current ratio of 3.19. The company has a market cap of $90.41 billion, a price-to-earnings ratio of 38.47, a PEG ratio of 3.35 and a beta of 1.29. The business’s fifty day moving average price is $99.81 and its 200 day moving average price is $85.70. Southern Copper Co. has a twelve month low of $64.66 and a twelve month high of $120.37.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings data on Friday, February 2nd. The basic materials company reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.15). The business had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.37 billion. Southern Copper had a return on equity of 30.85% and a net margin of 24.51%. Equities analysts expect that Southern Copper Co. will post 3.95 earnings per share for the current fiscal 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.