Allworth Financial LP Boosts Stake in Southern Copper Corporation $SCCO

Allworth Financial LP raised its stake in shares of Southern Copper Corporation (NYSE:SCCO) by 320.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,824 shares of the basic materials company’s stock after acquiring an additional 7,489 shares during the quarter. Allworth Financial LP’s holdings in Southern Copper were worth $1,712,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. SHP Wealth Management purchased a new stake in shares of Southern Copper during the 4th quarter valued at $25,000. Bell Investment Advisors Inc purchased a new stake in Southern Copper during the 2nd quarter valued at about $26,000. Rakuten Securities Inc. purchased a new stake in Southern Copper during the 2nd quarter valued at about $28,000. Lloyd Advisory Services LLC. acquired a new position in shares of Southern Copper in the fourth quarter valued at about $29,000. Finally, Virtus Advisers LLC acquired a new position in shares of Southern Copper in the fourth quarter valued at about $29,000. 7.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SCCO has been the subject of a number of recent research reports. Morgan Stanley lifted their price objective on Southern Copper from $144.27 to $156.13 and gave the company an “underweight” rating in a research note on Wednesday, July 8th. Barclays set a $164.03 price target on shares of Southern Copper and gave the company an “underweight” rating in a research note on Thursday, July 23rd. Scotiabank reaffirmed an “underperform” rating and set a $138.34 target price (up from $133.40) on shares of Southern Copper in a research note on Monday, June 15th. UBS Group reissued a “sell” rating and set a $158.10 price objective (up from $143.28) on shares of Southern Copper in a research note on Tuesday, June 30th. Finally, Zacks Research cut Southern Copper from a “strong-buy” rating to a “hold” rating in a report on Friday, August 7th. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and seven have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $146.84.

Southern Copper Stock Down 0.5%

SCCO stock opened at $193.22 on Friday. The company has a current ratio of 5.06, a quick ratio of 4.56 and a debt-to-equity ratio of 0.63. Southern Copper Corporation has a twelve month low of $104.98 and a twelve month high of $223.88. The company’s 50 day moving average is $190.63 and its two-hundred day moving average is $184.33. The stock has a market cap of $161.21 billion, a P/E ratio of 28.25, a PEG ratio of 1.73 and a beta of 1.14.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings data on Wednesday, July 22nd. The basic materials company reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $1.93 by $0.06. The company had revenue of $4.29 billion during the quarter, compared to analysts’ expectations of $4.37 billion. Southern Copper had a return on equity of 49.04% and a net margin of 35.87%.The company’s quarterly revenue was up 40.6% on a year-over-year basis. Research analysts expect that Southern Copper Corporation will post 7.83 earnings per share for the current fiscal year.

Southern Copper Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Tuesday, August 11th were issued a $1.10 dividend. The ex-dividend date of this dividend was Tuesday, August 11th. This is a positive change from Southern Copper’s previous quarterly dividend of $1.00. This represents a $4.40 annualized dividend and a dividend yield of 2.3%. Southern Copper’s payout ratio is presently 64.33%.

More Southern Copper News

Here are the key news stories impacting Southern Copper this week:

• Positive Sentiment: Southern Copper retains a favorable long-term outlook because tight mine supply could benefit producers if demand from artificial-intelligence data centers, power-grid upgrades and renewable infrastructure remains strong. The company also recently raised its quarterly dividend to $1.10 per share, or $4.40 annualized. Copper demand and Southern Copper outlook
• Positive Sentiment: Recent earnings momentum remains supportive: Southern Copper reported quarterly EPS of $1.99, exceeding the $1.93 consensus estimate, while revenue increased 40.6% year over year. Zacks continues to identify SCCO as a momentum stock for longer-term investors. Southern Copper momentum analysis
• Neutral Sentiment: Director Luis Palomino Bonilla sold 100 shares for approximately $21,000 at $210 per share, reducing his position by 6.24%. The sale follows several earlier disposals but leaves him with 1,503 shares, making the latest transaction relatively small. Southern Copper insider sale
• Negative Sentiment: Copper’s retreat and uncertainty over refined-copper tariffs pressured SCCO and peer miners. Elevated prices may also be curbing demand, with Chinese imports reportedly at a six-year low for August. Copper miners tariff-related decline
• Negative Sentiment: Valuation adds downside risk: SCCO trades near 28 times earnings, while the analyst consensus is “Reduce” with an average price target of about $146.84, well below recent trading levels. Southern Copper analyst forecast

Insider Activity at Southern Copper

In related news, Director Luis Palomino Bonilla sold 202 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $196.79, for a total value of $39,751.28. Following the completion of the sale, the director owned 1,723 shares in the company, valued at $339,066.65. This trade represents a 10.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders sold 604 shares of company stock valued at $118,077. 0.07% of the stock is owned by company insiders.

About Southern Copper

Southern Copper Corporation (NYSE: SCCO) is an integrated copper producer engaged in the exploration, mining, processing, smelting and refining of minerals. The company produces copper in the form of cathodes, concentrates and anodes, along with byproducts including molybdenum, zinc, silver, lead and sulfuric acid.

Southern Copper operates mining and processing facilities in Mexico and Peru. Its principal Mexican operations include the Buenavista del Cobre and La Caridad mining complexes, while its Peruvian operations include the Toquepala and Cuajone mines and the Ilo smelter and refinery.