Alaska Permanent Fund Corp Boosts Stock Position in Southern Copper Co. (NYSE:SCCO)

Alaska Permanent Fund Corp grew its holdings in shares of Southern Copper Co. (NYSE:SCCO) by 0.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 70,334 shares of the basic materials company’s stock after buying an additional 432 shares during the quarter. Alaska Permanent Fund Corp’s holdings in Southern Copper were worth $6,410,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Outlook Wealth Advisors LLC lifted its position in shares of Southern Copper by 13.0% during the fourth quarter. Outlook Wealth Advisors LLC now owns 3,722 shares of the basic materials company’s stock worth $339,000 after purchasing an additional 427 shares during the last quarter. 180 Wealth Advisors LLC lifted its holdings in Southern Copper by 3.6% during the 4th quarter. 180 Wealth Advisors LLC now owns 4,062 shares of the basic materials company’s stock worth $370,000 after buying an additional 140 shares during the last quarter. Wedmont Private Capital grew its position in shares of Southern Copper by 16.7% in the 4th quarter. Wedmont Private Capital now owns 2,529 shares of the basic materials company’s stock worth $239,000 after acquiring an additional 361 shares in the last quarter. ORG Partners LLC grew its position in shares of Southern Copper by 3.7% in the 4th quarter. ORG Partners LLC now owns 11,389 shares of the basic materials company’s stock worth $1,040,000 after acquiring an additional 411 shares in the last quarter. Finally, Nordea Investment Management AB increased its holdings in shares of Southern Copper by 15.3% in the 4th quarter. Nordea Investment Management AB now owns 108,753 shares of the basic materials company’s stock valued at $9,969,000 after acquiring an additional 14,391 shares during the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Southern Copper Stock Performance

SCCO opened at $96.98 on Thursday. Southern Copper Co. has a twelve month low of $77.14 and a twelve month high of $129.79. The stock has a market cap of $76.18 billion, a PE ratio of 24.97, a price-to-earnings-growth ratio of 1.49 and a beta of 1.14. The business’s 50 day moving average is $98.55 and its 200-day moving average is $104.40. The company has a current ratio of 2.77, a quick ratio of 2.31 and a debt-to-equity ratio of 0.64.

Wall Street Analyst Weigh In

SCCO has been the subject of a number of research reports. Scotiabank decreased their price objective on shares of Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating for the company in a report on Tuesday, October 15th. Morgan Stanley raised shares of Southern Copper from an “underweight” rating to an “equal weight” rating and decreased their price target for the company from $106.30 to $102.00 in a report on Thursday, December 12th. Citigroup increased their price objective on shares of Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a research note on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. upgraded Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 target price for the company in a research note on Monday, December 2nd. Four research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Southern Copper currently has a consensus rating of “Hold” and a consensus price target of $94.81.

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, copper, molybdenum, silver, gold, and lead.