LPL Financial LLC lessened its position in Southern Copper Corp (NYSE:SCCO) by 34.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,012 shares of the basic materials company’s stock after selling 8,338 shares during the quarter. LPL Financial LLC’s holdings in Southern Copper were worth $691,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. grew its stake in Southern Copper by 6.8% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 18,758 shares of the basic materials company’s stock worth $879,000 after purchasing an additional 1,196 shares in the last quarter. Crossmark Global Holdings Inc. boosted its position in shares of Southern Copper by 22.2% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 10,249 shares of the basic materials company’s stock worth $442,000 after acquiring an additional 1,861 shares in the last quarter. FMR LLC boosted its position in shares of Southern Copper by 35.4% during the 2nd quarter. FMR LLC now owns 8,424 shares of the basic materials company’s stock worth $395,000 after acquiring an additional 2,203 shares in the last quarter. AMP Capital Investors Ltd boosted its position in shares of Southern Copper by 36.5% during the 2nd quarter. AMP Capital Investors Ltd now owns 10,576 shares of the basic materials company’s stock worth $496,000 after acquiring an additional 2,828 shares in the last quarter. Finally, Cadence Capital Management LLC boosted its position in shares of Southern Copper by 55.8% during the 3rd quarter. Cadence Capital Management LLC now owns 8,400 shares of the basic materials company’s stock worth $362,000 after acquiring an additional 3,007 shares in the last quarter. Hedge funds and other institutional investors own 7.32% of the company’s stock.

Several research analysts have recently issued reports on the company. UBS Group raised Southern Copper from a “neutral” rating to a “buy” rating and set a $46.00 price objective for the company in a research report on Friday, November 2nd. Citigroup cut Southern Copper from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $43.00 to $33.00 in a research report on Monday, November 12th. Zacks Investment Research cut Southern Copper from a “hold” rating to a “strong sell” rating in a research report on Monday, December 10th. HSBC cut Southern Copper from a “hold” rating to a “reduce” rating in a research report on Monday, November 26th. Finally, Santander cut Southern Copper from a “hold” rating to an “underperform” rating in a research report on Wednesday, December 12th. Five analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. Southern Copper has a consensus rating of “Hold” and a consensus target price of $42.26.

Shares of NYSE SCCO opened at $31.71 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.71 and a quick ratio of 1.88. Southern Copper Corp has a 52-week low of $29.01 and a 52-week high of $58.09.

Southern Copper (NYSE:SCCO) last announced its earnings results on Wednesday, October 24th. The basic materials company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.02). The firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.80 billion. Southern Copper had a net margin of 13.24% and a return on equity of 14.97%. On average, sell-side analysts anticipate that Southern Copper Corp will post 2.11 EPS for the current fiscal year.

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Southern Copper Profile

Southern Copper Corporation engages in mining, exploring, smelting, and refining copper and other minerals in Peru, Mexico, Argentina, Chile, and Ecuador. 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 and lead.

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Institutional Ownership by Quarter for Southern Copper (NYSE:SCCO)

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