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

Alaska Permanent Fund Corp lessened its holdings in shares of Southern Copper Co. (NYSE:SCCO) by 33.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Janiczek Wealth Management LLC boosted its position 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 worth $106,000 after purchasing an additional 127 shares during the last quarter. CWM LLC raised its holdings in Southern Copper by 3.3% during the 4th quarter. CWM LLC now owns 4,329 shares of the basic materials company’s stock valued at $373,000 after buying an additional 137 shares during the period. Glenmede Trust Co. NA increased its stake in Southern Copper by 2.7% in the third quarter. Glenmede Trust Co. NA now owns 6,592 shares of the basic materials company’s stock worth $496,000 after purchasing an additional 173 shares during the period. Dfpg Investments LLC increased its stake in Southern Copper by 1.4% in the fourth quarter. Dfpg Investments LLC now owns 13,188 shares of the basic materials company’s stock worth $1,106,000 after purchasing an additional 176 shares during the period. Finally, Ronald Blue Trust Inc. increased its stake in Southern Copper by 43.7% in the third quarter. Ronald Blue Trust Inc. now owns 602 shares of the basic materials company’s stock worth $44,000 after purchasing an additional 183 shares during the period. Institutional investors own 7.94% of the company’s stock.

Southern Copper Stock Up 0.5 %

Southern Copper stock traded up $0.54 during mid-day trading on Thursday, hitting $109.77. The company had a trading volume of 92,995 shares, compared to its average volume of 1,118,080. The company has a quick ratio of 2.46, a current ratio of 3.19 and a debt-to-equity ratio of 0.84. The stock has a market cap of $84.86 billion, a price-to-earnings ratio of 34.79, a PEG ratio of 3.14 and a beta of 1.29. The business has a fifty day moving average of $98.56 and a 200 day moving average of $85.07. Southern Copper Co. has a 1 year low of $64.66 and a 1 year high of $120.37.

Southern Copper (NYSE:SCCO) last released its earnings results 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). Southern Copper had a net margin of 24.51% and a return on equity of 30.85%. The business had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.37 billion. On average, sell-side analysts expect that Southern Copper Co. will post 3.95 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on SCCO. StockNews.com downgraded shares of Southern Copper from a “buy” rating to a “hold” rating in a research report on Monday, February 5th. CICC Research initiated coverage on shares of Southern Copper in a research report on Wednesday. They set an “outperform” rating on the stock. Scotiabank lifted their price objective 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. Jefferies Financial Group upgraded shares of Southern Copper from a “hold” rating to a “buy” rating and upped their price objective for the stock from $91.00 to $130.00 in a research report on Friday, March 22nd. Finally, The Goldman Sachs Group upped their target price on shares of Southern Copper from $61.00 to $82.00 and gave the stock a “sell” rating in a report on Friday, March 22nd. Five analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $76.00.

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.