Flinton Capital Management LLC trimmed its stake in shares of Southern Copper Corp (NYSE:SCCO) by 12.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,608 shares of the basic materials company’s stock after selling 656 shares during the quarter. Flinton Capital Management LLC’s holdings in Southern Copper were worth $142,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SCCO. Quantamental Technologies LLC acquired a new position in Southern Copper during the 4th quarter worth $74,000. NumerixS Investment Technologies Inc acquired a new position in Southern Copper during the 4th quarter worth $98,000. Alta Advisers Ltd acquired a new position in Southern Copper during the 4th quarter worth $190,000. Riverhead Capital Management LLC acquired a new position in Southern Copper during the 3rd quarter worth $252,000. Finally, Piedmont Investment Advisors Inc. grew its stake in Southern Copper by 128.4% during the 3rd quarter. Piedmont Investment Advisors Inc. now owns 5,966 shares of the basic materials company’s stock worth $257,000 after purchasing an additional 3,354 shares in the last quarter. 7.09% of the stock is owned by hedge funds and other institutional investors.
Southern Copper stock opened at $37.62 on Friday. Southern Copper Corp has a fifty-two week low of $29.01 and a fifty-two week high of $58.09. The company has a current ratio of 2.61, a quick ratio of 1.77 and a debt-to-equity ratio of 0.90.
Several research firms recently commented on SCCO. TheStreet cut Southern Copper from a “b-” rating to a “c+” rating in a research note on Friday, January 18th. Zacks Investment Research cut Southern Copper from a “hold” rating to a “strong sell” rating in a research report on Monday, December 10th. Santander cut Southern Copper from a “hold” rating to an “underperform” rating in a research report on Wednesday, December 12th. Citigroup raised Southern Copper from a “sell” rating to a “buy” rating and upped their price objective for the stock from $33.00 to $41.00 in a research report on Tuesday, February 19th. Finally, Bradesco Corretora raised Southern Copper from an “underperform” rating to a “hold” rating and lowered their price objective for the stock from $45.00 to $42.00 in a research report on Tuesday, November 20th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. Southern Copper currently has an average rating of “Hold” and an average target price of $41.06.
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Southern Copper Profile
Southern Copper Corporation engages in mining, exploring, smelting, and refining copper and other minerals in Peru, Mexico, Argentina, Chile, and Ecuador. 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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