Beacon Investment Advisory Services Inc. Purchases 196 Shares of Southern Copper Co. (NYSE:SCCO)

Beacon Investment Advisory Services Inc. increased its stake in Southern Copper Co. (NYSE:SCCO) by 0.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,600 shares of the basic materials company’s stock after acquiring an additional 196 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in Southern Copper were worth $4,520,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Fisher Asset Management LLC raised its position in Southern Copper by 10.6% in the 3rd quarter. Fisher Asset Management LLC now owns 2,963,572 shares of the basic materials company’s stock worth $342,796,000 after purchasing an additional 283,562 shares during the period. State Street Corp grew its stake in shares of Southern Copper by 1.0% during the third quarter. State Street Corp now owns 2,728,802 shares of the basic materials company’s stock valued at $315,641,000 after buying an additional 27,358 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Southern Copper by 74.6% in the third quarter. JPMorgan Chase & Co. now owns 1,402,983 shares of the basic materials company’s stock worth $162,283,000 after buying an additional 599,610 shares during the period. Empower Advisory Group LLC lifted its stake in shares of Southern Copper by 3.3% during the 3rd quarter. Empower Advisory Group LLC now owns 1,004,060 shares of the basic materials company’s stock worth $116,140,000 after acquiring an additional 32,314 shares during the last quarter. Finally, Marathon Asset Management Ltd boosted its holdings in Southern Copper by 2.9% during the 3rd quarter. Marathon Asset Management Ltd now owns 788,672 shares of the basic materials company’s stock valued at $91,226,000 after acquiring an additional 22,437 shares during the period. 7.94% of the stock is owned by institutional investors.

Southern Copper Price Performance

NYSE SCCO opened at $96.43 on Thursday. The company has a market cap of $75.75 billion, a PE ratio of 24.83, a P/E/G ratio of 1.96 and a beta of 1.14. The firm’s 50 day moving average price is $97.49 and its 200-day moving average price is $103.80. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.77. Southern Copper Co. has a 52-week low of $77.42 and a 52-week high of $129.79.

Southern Copper (NYSE:SCCO) last announced its earnings results on Tuesday, October 22nd. The basic materials company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.03. The business had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.94 billion. Southern Copper had a return on equity of 37.11% and a net margin of 27.67%. Sell-side analysts forecast that Southern Copper Co. will post 4.4 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SCCO. Citigroup boosted their target price on shares of Southern Copper from $99.44 to $100.00 and gave the company a “sell” rating in a research note on Wednesday, October 2nd. Morgan Stanley raised shares of Southern Copper from an “underweight” rating to an “equal weight” rating and lowered their price objective for the company from $106.30 to $102.00 in a research report on Thursday, December 12th. Scotiabank reduced their target price on shares of Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating on the stock in a research report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. upgraded Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price target for the company in a report on Monday, December 2nd. Four research 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. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $94.81.

About Southern Copper

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.