Federated Hermes Inc. Has $4.85 Million Stock Holdings in Southern Copper Co. (NYSE:SCCO)

Federated Hermes Inc. cut its holdings in Southern Copper Co. (NYSE:SCCO) by 4.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 56,366 shares of the basic materials company’s stock after selling 2,729 shares during the quarter. Federated Hermes Inc.’s holdings in Southern Copper were worth $4,851,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in SCCO. Empower Advisory Group LLC lifted its stake in shares of Southern Copper by 0.9% in the third quarter. Empower Advisory Group LLC now owns 1,234,784 shares of the basic materials company’s stock worth $92,967,000 after buying an additional 10,718 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Southern Copper by 7.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,151,729 shares of the basic materials company’s stock worth $86,714,000 after buying an additional 80,576 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Southern Copper by 1.3% in the third quarter. Vanguard Group Inc. now owns 968,149 shares of the basic materials company’s stock worth $72,892,000 after buying an additional 12,201 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of Southern Copper by 5.1% in the third quarter. Legal & General Group Plc now owns 928,187 shares of the basic materials company’s stock worth $69,883,000 after buying an additional 44,841 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Southern Copper by 2.9% in the third quarter. Northern Trust Corp now owns 821,452 shares of the basic materials company’s stock worth $61,847,000 after buying an additional 22,791 shares during the last quarter. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Southern Copper Trading Up 4.6 %

Shares of Southern Copper stock opened at $116.96 on Friday. The firm has a market capitalization of $90.42 billion, a PE ratio of 37.25, a price-to-earnings-growth ratio of 3.13 and a beta of 1.29. The company has a debt-to-equity ratio of 0.84, a current ratio of 3.19 and a quick ratio of 2.46. The company’s fifty day moving average price is $99.81 and its two-hundred day moving average price is $85.55. Southern Copper Co. has a 52-week low of $64.66 and a 52-week high of $120.37.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on SCCO. CICC Research began coverage on shares of Southern Copper in a research note on Wednesday. They issued an “outperform” rating for the company. Jefferies Financial Group upgraded shares of Southern Copper from a “hold” rating to a “buy” rating and upped their target price for the company from $91.00 to $130.00 in a research note on Friday, March 22nd. StockNews.com cut shares of Southern Copper from a “buy” rating to a “hold” rating in a research note on Monday, February 5th. JPMorgan Chase & Co. cut their target price on shares of Southern Copper from $63.50 to $61.00 and set an “underweight” rating for the company in a research note on Thursday, March 21st. Finally, The Goldman Sachs Group upped their target price on shares of Southern Copper from $61.00 to $82.00 and gave the company a “sell” rating in a research note on Friday, March 22nd. Five research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $76.00.

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.