Semanteon Capital Management LP Buys New Stake in Southern Copper Co. (NYSE:SCCO)

Semanteon Capital Management LP purchased a new stake in Southern Copper Co. (NYSE:SCCO) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 3,441 shares of the basic materials company’s stock, valued at approximately $296,000.

Several other large investors also recently bought and sold shares of SCCO. Janiczek Wealth Management LLC raised its position in Southern Copper by 11.5% in the 4th quarter. Janiczek Wealth Management LLC now owns 1,227 shares of the basic materials company’s stock valued at $106,000 after purchasing an additional 127 shares during the last quarter. CWM LLC raised its holdings in shares of Southern Copper by 3.3% in the fourth quarter. CWM LLC now owns 4,329 shares of the basic materials company’s stock valued at $373,000 after buying an additional 137 shares during the last quarter. Glenmede Trust Co. NA boosted its stake in shares of Southern Copper by 2.7% during the third quarter. Glenmede Trust Co. NA now owns 6,592 shares of the basic materials company’s stock worth $496,000 after buying an additional 173 shares during the period. Dfpg Investments LLC grew its holdings in shares of Southern Copper by 1.4% during the fourth quarter. Dfpg Investments LLC now owns 13,188 shares of the basic materials company’s stock worth $1,106,000 after buying an additional 176 shares during the last quarter. Finally, Treasurer of the State of North Carolina grew its holdings in shares of Southern Copper by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 37,467 shares of the basic materials company’s stock worth $2,821,000 after buying an additional 190 shares during the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SCCO. CICC Research began coverage on Southern Copper in a report on Wednesday. They issued an “outperform” rating on the stock. HSBC downgraded shares of Southern Copper from a “hold” rating to a “reduce” rating and set a $80.00 price objective for the company. in a research report on Monday, April 22nd. JPMorgan Chase & Co. lowered their target price on shares of Southern Copper from $63.50 to $61.00 and set an “underweight” rating on the stock in a report on Thursday, March 21st. Jefferies Financial Group raised shares of 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. Finally, Scotiabank lifted their price objective on Southern Copper from $53.00 to $55.00 and gave the company a “sector underperform” rating in a report on Thursday, April 18th. Five research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $76.00.

Southern Copper Stock Performance

SCCO opened at $116.96 on Friday. The stock’s 50 day simple moving average is $99.81 and its 200 day simple moving average is $85.55. The stock has a market cap of $90.42 billion, a P/E ratio of 37.25, a P/E/G ratio of 3.20 and a beta of 1.29. Southern Copper Co. has a 1-year low of $64.66 and a 1-year high of $120.37. The company has a debt-to-equity ratio of 0.84, a current ratio of 3.19 and a quick ratio of 2.46.

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

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.