TIAA Trust National Association Invests $226,000 in Southern Copper Co. (NYSE:SCCO)

TIAA Trust National Association purchased a new position in Southern Copper Co. (NYSE:SCCO) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 2,123 shares of the basic materials company’s stock, valued at approximately $226,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SCCO. Fortis Group Advisors LLC lifted its position in shares of Southern Copper by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 302 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 151 shares during the period. Fidelis Capital Partners LLC bought a new stake in shares of Southern Copper in the 1st quarter valued at $26,000. Riverview Trust Co bought a new stake in shares of Southern Copper in the 1st quarter valued at $27,000. Viking Fund Management LLC bought a new stake in shares of Southern Copper in the 4th quarter valued at $31,000. Finally, Venturi Wealth Management LLC increased its stake in shares of Southern Copper by 164.8% in the 4th quarter. Venturi Wealth Management LLC now owns 482 shares of the basic materials company’s stock valued at $41,000 after acquiring an additional 300 shares in the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Insider Buying and Selling

In related news, Director Bonilla Luis Miguel Palomino sold 300 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $118.50, for a total value of $35,550.00. Following the transaction, the director now directly owns 4,614 shares of the company’s stock, valued at approximately $546,759. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Southern Copper news, Director PALOMINO BONILLA LUIS MIGUEL sold 3,600 shares of the company’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $118.30, for a total transaction of $425,880.00. Following the sale, the director now directly owns 2,214 shares of the company’s stock, valued at $261,916.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Bonilla Luis Miguel Palomino sold 300 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $118.50, for a total transaction of $35,550.00. Following the sale, the director now directly owns 4,614 shares in the company, valued at $546,759. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,000 shares of company stock valued at $472,430. 0.08% of the stock is owned by insiders.

Analyst Ratings Changes

SCCO has been the subject of several research analyst reports. CICC Research initiated coverage on shares of Southern Copper in a research note on Wednesday, April 24th. They issued an “outperform” rating for the company. Scotiabank lowered their price objective on shares of Southern Copper from $55.00 to $54.00 and set a “sector underperform” rating for the company in a research note on Tuesday, May 21st. HSBC lowered shares of Southern Copper from a “hold” rating to a “reduce” rating and set a $80.00 price target for the company. in a research note on Monday, April 22nd. Morgan Stanley boosted their price target on shares of Southern Copper from $81.70 to $100.00 and gave the company an “underweight” rating in a research note on Friday, June 21st. Finally, StockNews.com upgraded shares of Southern Copper from a “hold” rating to a “buy” rating in a research note on Wednesday, May 15th. Five equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $89.57.

Southern Copper Stock Up 0.1 %

Shares of NYSE SCCO traded up $0.06 during trading on Monday, hitting $104.36. The stock had a trading volume of 760,947 shares, compared to its average volume of 1,187,672. Southern Copper Co. has a 12 month low of $68.93 and a 12 month high of $129.79. The company has a debt-to-equity ratio of 0.82, a current ratio of 3.31 and a quick ratio of 2.56. The company has a market capitalization of $81.52 billion, a PE ratio of 35.11, a PEG ratio of 1.04 and a beta of 1.19. The firm has a fifty day moving average of $113.72 and a two-hundred day moving average of $101.86.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.17. The company had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.50 billion. Southern Copper had a net margin of 24.20% and a return on equity of 30.44%. As a group, equities research analysts forecast that Southern Copper Co. will post 4.43 EPS 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, copper, molybdenum, silver, gold, and lead.