Gateway Investment Advisers LLC Purchases 9,032 Shares of Southern Copper Co. (NYSE:SCCO)

Gateway Investment Advisers LLC boosted its position in Southern Copper Co. (NYSE:SCCO - Free Report) by 8.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 113,020 shares of the basic materials company's stock after purchasing an additional 9,032 shares during the period. Gateway Investment Advisers LLC's holdings in Southern Copper were worth $10,300,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Choreo LLC bought a new position in shares of Southern Copper during the 2nd quarter valued at about $286,000. American Century Companies Inc. lifted its stake in Southern Copper by 7.1% during the second quarter. American Century Companies Inc. now owns 45,818 shares of the basic materials company's stock valued at $4,936,000 after purchasing an additional 3,034 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in Southern Copper by 0.5% during the second quarter. DekaBank Deutsche Girozentrale now owns 23,758 shares of the basic materials company's stock worth $2,557,000 after buying an additional 118 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Southern Copper by 0.5% during the second quarter. Dimensional Fund Advisors LP now owns 375,173 shares of the basic materials company's stock worth $40,424,000 after buying an additional 1,910 shares in the last quarter. Finally, Amalgamated Bank grew its position in Southern Copper by 3.4% in the second quarter. Amalgamated Bank now owns 5,824 shares of the basic materials company's stock worth $627,000 after buying an additional 190 shares during the last quarter. 7.94% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SCCO has been the subject of a number of recent research reports. Morgan Stanley upgraded Southern Copper from an "underweight" rating to an "equal weight" rating and cut their price objective for the company from $106.30 to $102.00 in a research report on Thursday, December 12th. JPMorgan Chase & Co. upgraded Southern Copper from an "underweight" rating to a "neutral" rating and set a $92.50 price target for the company in a research report on Monday, December 2nd. Citigroup lifted their price target on Southern Copper from $99.44 to $100.00 and gave the stock a "sell" rating in a research note on Wednesday, October 2nd. Finally, Scotiabank decreased their target price 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. Four investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $94.81.

Southern Copper Stock Up 0.7 %

Southern Copper stock traded up $0.68 during trading hours on Friday, hitting $98.10. The company had a trading volume of 703,645 shares, compared to its average volume of 840,004. The firm's fifty day moving average is $97.97 and its 200-day moving average is $104.30. The firm has a market capitalization of $77.06 billion, a P/E ratio of 25.25, a price-to-earnings-growth ratio of 1.49 and a beta of 1.14. Southern Copper Co. has a fifty-two week low of $77.42 and a fifty-two week high of $129.79. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.77 and a quick ratio of 2.31.

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.