Waverton Investment Management Ltd lowered its holdings in Southern Copper Corp (NYSE:SCCO) by 7.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,802 shares of the basic materials company’s stock after selling 1,073 shares during the quarter. Waverton Investment Management Ltd’s holdings in Southern Copper were worth $437,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its holdings in shares of Southern Copper by 15.3% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 5,825,434 shares of the basic materials company’s stock valued at $226,318,000 after buying an additional 774,578 shares during the period. Nuveen Asset Management LLC purchased a new stake in Southern Copper during the 2nd quarter worth about $18,171,000. Los Angeles Capital Management & Equity Research Inc. increased its holdings in Southern Copper by 84.3% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 797,772 shares of the basic materials company’s stock worth $30,993,000 after purchasing an additional 364,888 shares during the period. Teacher Retirement System of Texas increased its holdings in Southern Copper by 2,055.5% during the 3rd quarter. Teacher Retirement System of Texas now owns 175,135 shares of the basic materials company’s stock worth $5,977,000 after purchasing an additional 167,010 shares during the period. Finally, Invesco Ltd. increased its holdings in Southern Copper by 77.9% during the 2nd quarter. Invesco Ltd. now owns 364,774 shares of the basic materials company’s stock worth $14,171,000 after purchasing an additional 159,680 shares during the period. Institutional investors own 6.54% of the company’s stock.
Several equities research analysts have weighed in on SCCO shares. Morgan Stanley upgraded Southern Copper from an “underweight” rating to an “equal” rating and set a $36.00 price target on the stock in a report on Monday, September 23rd. Macquarie started coverage on Southern Copper in a report on Wednesday, July 10th. They set an “underperform” rating and a $35.00 price target on the stock. JPMorgan Chase & Co. set a $32.00 price target on Southern Copper and gave the stock a “hold” rating in a report on Wednesday, August 21st. Bank of America restated a “buy” rating and set a $46.00 price target on shares of Southern Copper in a report on Thursday, August 15th. Finally, UBS Group cut their price target on Southern Copper from $45.00 to $42.00 and set a “buy” rating on the stock in a report on Thursday, October 10th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $39.50.
Southern Copper Company 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 and lead.
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