Campbell & CO Investment Adviser LLC Makes New Investment in Southern Copper Co. (NYSE:SCCO)

Campbell & CO Investment Adviser LLC acquired a new position in shares of Southern Copper Co. (NYSE:SCCO) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 8,827 shares of the basic materials company’s stock, valued at approximately $400,000.

A number of other institutional investors and hedge funds also recently modified their holdings of SCCO. FMR LLC increased its holdings in Southern Copper by 548.8% during the 1st quarter. FMR LLC now owns 44,085 shares of the basic materials company’s stock worth $1,749,000 after purchasing an additional 37,290 shares in the last quarter. US Bancorp DE grew its holdings in shares of Southern Copper by 13.1% in the first quarter. US Bancorp DE now owns 4,385 shares of the basic materials company’s stock valued at $123,000 after acquiring an additional 507 shares in the last quarter. Federated Hermes Inc. grew its holdings in shares of Southern Copper by 2.1% in the first quarter. Federated Hermes Inc. now owns 20,011 shares of the basic materials company’s stock valued at $564,000 after acquiring an additional 418 shares in the last quarter. Nuveen Asset Management LLC grew its holdings in shares of Southern Copper by 0.3% in the first quarter. Nuveen Asset Management LLC now owns 435,770 shares of the basic materials company’s stock valued at $12,271,000 after acquiring an additional 1,427 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its holdings in shares of Southern Copper by 3.3% in the first quarter. Nomura Asset Management Co. Ltd. now owns 34,797 shares of the basic materials company’s stock valued at $980,000 after acquiring an additional 1,108 shares in the last quarter. 6.94% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts have recently issued reports on SCCO shares. Zacks Investment Research lowered Southern Copper from a “strong-buy” rating to a “hold” rating and set a $49.00 target price for the company. in a report on Tuesday, September 22nd. Morgan Stanley lowered Southern Copper from an “equal weight” rating to an “underweight” rating and upped their target price for the company from $37.00 to $38.00 in a report on Tuesday, August 4th. Finally, JPMorgan Chase & Co. lowered Southern Copper from a “neutral” rating to an “underweight” rating and upped their target price for the company from $27.00 to $33.00 in a report on Monday, June 22nd. Four research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $38.57.

In related news, Director Bonilla Luis Miguel Palomino sold 1,400 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $45.10, for a total value of $63,140.00. Following the transaction, the director now owns 9,014 shares in the company, valued at $406,531.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.46% of the stock is currently owned by corporate insiders.

Southern Copper stock opened at $47.94 on Friday. Southern Copper Co. has a 12 month low of $23.43 and a 12 month high of $49.19. The company has a current ratio of 4.33, a quick ratio of 3.23 and a debt-to-equity ratio of 0.95. The business’s 50 day simple moving average is $46.56 and its 200 day simple moving average is $39.30. The company has a market cap of $37.06 billion, a price-to-earnings ratio of 31.54, a PEG ratio of 2.17 and a beta of 1.14.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings data on Tuesday, July 28th. The basic materials company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.27 by $0.07. Southern Copper had a return on equity of 17.10% and a net margin of 16.20%. The business had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.22 billion. As a group, equities research analysts forecast that Southern Copper Co. will post 1.5 earnings per share for the current fiscal year.

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 and lead.

Further Reading: Marijuana Stocks

Want to see what other hedge funds are holding SCCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Southern Copper Co. (NYSE:SCCO).

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

Receive News & Ratings for Southern Copper Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southern Copper and related companies with MarketBeat.com's FREE daily email newsletter.