Godsey & Gibb Inc. Purchases 202 Shares of Southern Copper Co. (NYSE:SCCO)

Godsey & Gibb Inc. raised its position in shares of Southern Copper Co. (NYSE:SCCO) by 62.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 524 shares of the basic materials company’s stock after purchasing an additional 202 shares during the quarter. Godsey & Gibb Inc.’s holdings in Southern Copper were worth $61,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Norden Group LLC bought a new position in shares of Southern Copper during the 1st quarter valued at approximately $1,820,000. Cetera Investment Advisers grew its stake in shares of Southern Copper by 395.1% during the 1st quarter. Cetera Investment Advisers now owns 38,803 shares of the basic materials company’s stock valued at $4,133,000 after acquiring an additional 30,966 shares during the period. Advisors Asset Management Inc. grew its stake in shares of Southern Copper by 21.7% during the 1st quarter. Advisors Asset Management Inc. now owns 90,237 shares of the basic materials company’s stock valued at $9,612,000 after acquiring an additional 16,111 shares during the period. CANADA LIFE ASSURANCE Co grew its stake in shares of Southern Copper by 182.3% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 278,119 shares of the basic materials company’s stock valued at $29,625,000 after acquiring an additional 179,590 shares during the period. Finally, Oppenheimer & Co. Inc. grew its stake in shares of Southern Copper by 157.1% during the 1st quarter. Oppenheimer & Co. Inc. now owns 22,175 shares of the basic materials company’s stock valued at $2,362,000 after acquiring an additional 13,550 shares during the period. 7.94% of the stock is currently owned by institutional investors.

Southern Copper Stock Up 0.8 %

Shares of SCCO opened at $112.90 on Monday. The company has a market cap of $88.19 billion, a PE ratio of 32.02, a P/E/G ratio of 1.27 and a beta of 1.18. The business has a fifty day moving average of $106.45 and a 200 day moving average of $110.07. Southern Copper Co. has a 52-week low of $68.93 and a 52-week high of $129.79. The company has a quick ratio of 2.27, a current ratio of 2.81 and a debt-to-equity ratio of 0.67.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings results on Friday, July 19th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.09. The company had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $2.96 billion. Southern Copper had a return on equity of 34.98% and a net margin of 26.15%. On average, sell-side analysts expect that Southern Copper Co. will post 4.45 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Scotiabank cut their price objective on Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating for the company in a research note on Tuesday, October 15th. Morgan Stanley boosted their price target on Southern Copper from $97.00 to $100.00 and gave the stock an “underweight” rating in a report on Thursday, September 19th. Citigroup boosted their price target on Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a report on Wednesday, October 2nd. Finally, UBS Group assumed coverage on Southern Copper in a report on Friday, July 12th. They issued a “neutral” rating and a $120.00 price target on the stock. Six investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. According to MarketBeat, Southern Copper has a consensus rating of “Hold” and an average price target of $90.63.

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.