Occidental Asset Management LLC Buys 2,689 Shares of Southern Copper Co. (NYSE:SCCO)

Occidental Asset Management LLC grew its stake in Southern Copper Co. (NYSE:SCCO - Free Report) by 7.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,459 shares of the basic materials company's stock after buying an additional 2,689 shares during the quarter. Occidental Asset Management LLC's holdings in Southern Copper were worth $3,596,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Creative Financial Designs Inc. ADV grew its stake in shares of Southern Copper by 172.0% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 223 shares of the basic materials company's stock worth $26,000 after acquiring an additional 141 shares in the last quarter. Itau Unibanco Holding S.A. bought a new position in shares of Southern Copper in the 2nd quarter valued at about $31,000. McClarren Financial Advisors Inc. raised its holdings in Southern Copper by 169.2% during the third quarter. McClarren Financial Advisors Inc. now owns 288 shares of the basic materials company's stock worth $33,000 after acquiring an additional 181 shares in the last quarter. Oakworth Capital Inc. acquired a new stake in shares of Southern Copper in the 3rd quarter valued at approximately $42,000. Finally, Prospera Private Wealth LLC bought a new stake in shares of Southern Copper in the 3rd quarter valued at about $47,000. Institutional investors own 7.94% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SCCO. Scotiabank lowered their target price on Southern Copper from $54.00 to $52.00 and set a "sector underperform" rating on the stock in a research note on Tuesday, October 15th. Citigroup lifted their target price on Southern Copper from $99.44 to $100.00 and gave the stock a "sell" rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. raised shares of Southern Copper from an "underweight" rating to a "neutral" rating and set a $92.50 price target on the stock in a research report on Monday, December 2nd. Finally, Morgan Stanley upgraded shares of Southern Copper from an "underweight" rating to an "equal weight" rating and decreased their target price for the stock from $106.30 to $102.00 in a research report on Thursday, December 12th. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Southern Copper has an average rating of "Hold" and an average price target of $94.81.

Southern Copper Price Performance

Shares of NYSE SCCO traded up $0.74 during midday trading on Friday, reaching $98.16. 354,620 shares of the company were exchanged, compared to its average volume of 806,723. The company has a quick ratio of 2.31, a current ratio of 2.77 and a debt-to-equity ratio of 0.64. Southern Copper Co. has a one year low of $77.42 and a one year high of $129.79. The stock has a market cap of $77.11 billion, a P/E ratio of 25.27, a PEG ratio of 1.49 and a beta of 1.14. The stock's 50-day moving average price is $98.30 and its 200-day moving average price is $104.35.

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.