Semanteon Capital Management LP Purchases New Position in Southern Copper Co. (NYSE:SCCO)

Semanteon Capital Management LP acquired a new position in shares of Southern Copper Co. (NYSE:SCCO) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,441 shares of the basic materials company’s stock, valued at approximately $296,000.

Several other hedge funds have also recently bought and sold shares of SCCO. Stevens Capital Management LP bought a new stake in Southern Copper during the 4th quarter worth approximately $476,000. Bailard Inc. acquired a new position in Southern Copper in the fourth quarter worth $326,000. Cumberland Partners Ltd bought a new position in shares of Southern Copper in the fourth quarter valued at about $1,947,000. CWM LLC lifted its position in Southern Copper by 3.3% during the 4th quarter. CWM LLC now owns 4,329 shares of the basic materials company’s stock worth $373,000 after buying an additional 137 shares in the last quarter. Finally, abrdn plc grew its holdings in Southern Copper by 2.3% during the 4th quarter. abrdn plc now owns 3,041,233 shares of the basic materials company’s stock worth $261,759,000 after acquiring an additional 67,930 shares during the last quarter. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Southern Copper Price Performance

NYSE:SCCO opened at $116.96 on Friday. The company has a quick ratio of 2.46, a current ratio of 3.19 and a debt-to-equity ratio of 0.84. Southern Copper Co. has a 12-month low of $64.66 and a 12-month high of $120.37. The stock’s 50 day moving average price is $99.81 and its two-hundred day moving average price is $85.55. The firm has a market capitalization of $90.42 billion, a price-to-earnings ratio of 37.25, a P/E/G ratio of 3.20 and a beta of 1.29.

Southern Copper (NYSE:SCCO) last announced its quarterly earnings results on Friday, February 2nd. The basic materials company reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.15). Southern Copper had a net margin of 24.51% and a return on equity of 30.85%. The business had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.37 billion. On average, analysts anticipate that Southern Copper Co. will post 3.95 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on SCCO. StockNews.com lowered shares of Southern Copper from a “buy” rating to a “hold” rating in a report on Monday, February 5th. Jefferies Financial Group upgraded Southern Copper from a “hold” rating to a “buy” rating and increased their price target for the stock from $91.00 to $130.00 in a report on Friday, March 22nd. HSBC cut shares of Southern Copper from a “hold” rating to a “reduce” rating and set a $80.00 price target for the company. in a report on Monday, April 22nd. The Goldman Sachs Group boosted their price objective on shares of Southern Copper from $61.00 to $82.00 and gave the company a “sell” rating in a research report on Friday, March 22nd. Finally, Scotiabank lifted their price target on Southern Copper from $53.00 to $55.00 and gave the company a “sector underperform” rating in a research note on Thursday, April 18th. Five research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Southern Copper presently has a consensus rating of “Hold” and an average price target of $76.00.

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.