GAMMA Investing LLC Grows Stock Position in Southern Copper Co. (NYSE:SCCO)

GAMMA Investing LLC boosted its stake in shares of Southern Copper Co. (NYSE:SCCO) by 53.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 517 shares of the basic materials company’s stock after buying an additional 179 shares during the quarter. GAMMA Investing LLC’s holdings in Southern Copper were worth $60,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Handelsbanken Fonder AB boosted its position in Southern Copper by 2.0% during the 3rd quarter. Handelsbanken Fonder AB now owns 101,563 shares of the basic materials company’s stock valued at $11,748,000 after buying an additional 1,950 shares during the period. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Southern Copper by 30.8% during the third quarter. Massmutual Trust Co. FSB ADV now owns 683 shares of the basic materials company’s stock worth $79,000 after purchasing an additional 161 shares during the period. Sanctuary Advisors LLC bought a new stake in shares of Southern Copper in the second quarter worth about $611,000. Truist Financial Corp increased its holdings in Southern Copper by 83.4% during the 2nd quarter. Truist Financial Corp now owns 35,185 shares of the basic materials company’s stock valued at $3,791,000 after purchasing an additional 15,995 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its position in Southern Copper by 222.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,871 shares of the basic materials company’s stock valued at $202,000 after purchasing an additional 1,291 shares during the last quarter. 7.94% of the stock is currently owned by institutional investors.

Southern Copper Stock Up 1.5 %

Shares of Southern Copper stock opened at $113.15 on Thursday. Southern Copper Co. has a 1 year low of $68.93 and a 1 year high of $129.79. The firm has a market cap of $88.39 billion, a price-to-earnings ratio of 37.59, a PEG ratio of 1.22 and a beta of 1.18. The company has a 50-day moving average of $105.94 and a 200 day moving average of $110.01. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.81 and a quick ratio of 2.27.

Southern Copper (NYSE:SCCO) last released its earnings results on Friday, July 19th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.09. The firm had revenue of $3.12 billion during the quarter, compared to analyst estimates of $2.96 billion. Southern Copper had a net margin of 26.15% and a return on equity of 34.98%. As a group, sell-side analysts anticipate that Southern Copper Co. will post 4.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.