Southern Copper Corp (SCCO) Shares Bought by Northern Trust Corp

Northern Trust Corp grew its stake in shares of Southern Copper Corp (NYSE:SCCO) by 0.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,039,201 shares of the basic materials company’s stock after purchasing an additional 8,354 shares during the period. Northern Trust Corp owned approximately 0.13% of Southern Copper worth $48,707,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Amalgamated Bank boosted its position in shares of Southern Copper by 11.0% in the 1st quarter. Amalgamated Bank now owns 10,512 shares of the basic materials company’s stock worth $570,000 after buying an additional 1,044 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in shares of Southern Copper by 6.8% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 18,758 shares of the basic materials company’s stock worth $879,000 after buying an additional 1,196 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in shares of Southern Copper by 16.3% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 8,748 shares of the basic materials company’s stock worth $410,000 after buying an additional 1,227 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Southern Copper by 2.5% in the 1st quarter. Wells Fargo & Company MN now owns 63,425 shares of the basic materials company’s stock worth $3,436,000 after buying an additional 1,532 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in shares of Southern Copper by 15.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 11,709 shares of the basic materials company’s stock worth $634,000 after buying an additional 1,549 shares in the last quarter. Institutional investors own 7.50% of the company’s stock.

A number of research analysts have issued reports on SCCO shares. Scotiabank set a $40.00 target price on shares of Southern Copper and gave the company a “sell” rating in a report on Monday, August 6th. Citigroup upgraded shares of Southern Copper from a “sell” rating to a “neutral” rating and set a $43.00 target price on the stock in a report on Monday, October 8th. ValuEngine lowered shares of Southern Copper from a “buy” rating to a “hold” rating in a report on Monday, July 2nd. Finally, B. Riley reduced their target price on shares of Southern Copper from $55.00 to $49.00 and set a “neutral” rating on the stock in a report on Wednesday, September 19th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $45.94.

NYSE:SCCO opened at $41.76 on Friday. The company has a quick ratio of 2.15, a current ratio of 3.15 and a debt-to-equity ratio of 0.91. Southern Copper Corp has a 12-month low of $39.18 and a 12-month high of $58.09.

Southern Copper (NYSE:SCCO) last released its earnings results on Wednesday, August 1st. The basic materials company reported $0.53 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.64 by ($0.11). The firm had revenue of $1.84 billion during the quarter. Southern Copper had a net margin of 13.78% and a return on equity of 15.48%. Research analysts predict that Southern Copper Corp will post 2.33 earnings per share for the current year.

Southern Copper Company 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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