Southern Copper Corporation $SCCO Shares Newly Acquired by RWC Asset Management LLP

RWC Asset Management LLP purchased a new stake in Southern Copper Corporation (NYSE:SCCO) during the 3rd quarter, HoldingsChannel.com reports. The fund purchased 27,969 shares of the basic materials company’s stock, valued at approximately $5,668,000.

Other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of Southern Copper during the second quarter worth approximately $1,729,500,000. Bank of America Corp DE acquired a new position in shares of Southern Copper in the second quarter valued at approximately $318,448,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Southern Copper by 2.2% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,290,648 shares of the basic materials company’s stock valued at $224,908,000 after purchasing an additional 27,744 shares during the last quarter. Legal & General Group Plc acquired a new position in shares of Southern Copper in the second quarter valued at approximately $149,739,000. Finally, Bollard Group LLC increased its stake in shares of Southern Copper by 14.0% during the first quarter. Bollard Group LLC now owns 861,950 shares of the basic materials company’s stock worth $148,307,000 after purchasing an additional 105,763 shares during the period. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on SCCO shares. Zacks Research cut Southern Copper from a “strong-buy” rating to a “hold” rating in a report on Friday, August 7th. Citigroup restated a “positive” rating on shares of Southern Copper in a research note on Wednesday, July 15th. Barclays reaffirmed an “underweight” rating and issued a $168.00 price objective (up from $166.00) on shares of Southern Copper in a report on Monday, October 19th. Morgan Stanley reiterated an “underweight” rating and set a $170.00 price objective on shares of Southern Copper in a research report on Wednesday, October 7th. Finally, Wells Fargo & Company set a $193.00 price objective on Southern Copper and gave the stock an “equal weight” rating in a research report on Friday. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and seven have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $161.28.

Insider Buying and Selling

In other Southern Copper news, Director Luis Palomino Bonilla sold 202 shares of Southern Copper stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $196.79, for a total value of $39,751.28. Following the completion of the transaction, the director directly owned 1,723 shares of the company’s stock, valued at $339,066.65. The trade was a 10.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders sold 603 shares of company stock worth $120,213. 0.07% of the stock is owned by company insiders.

Southern Copper Stock Performance

Shares of NYSE:SCCO traded up $1.60 on Friday, reaching $185.19. 1,483,477 shares of the company’s stock were exchanged, compared to its average volume of 1,051,778. Southern Copper Corporation has a twelve month low of $119.25 and a twelve month high of $223.88. The company has a fifty day moving average of $201.50 and a 200-day moving average of $188.14. The company has a market capitalization of $154.51 billion, a price-to-earnings ratio of 24.24, a PEG ratio of 1.71 and a beta of 1.11. 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 shares are set to split before the market opens on Tuesday, November 3rd. The 1.0106-1 split was recently announced. The newly created shares will be distributed to shareholders after the market closes on Monday, November 2nd.

Southern Copper (NYSE:SCCO) last released its quarterly earnings results on Wednesday, October 21st. The basic materials company reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.12. The company had revenue of $4.70 billion during the quarter, compared to the consensus estimate of $4.49 billion. Southern Copper had a net margin of 37.16% and a return on equity of 53.46%. During the same period in the previous year, the business earned $1.35 earnings per share. On average, research analysts predict that Southern Copper Corporation will post 7.97 EPS for the current fiscal year.

Southern Copper Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Tuesday, November 3rd will be paid a dividend of $1.30 per share. This is a boost from Southern Copper’s previous quarterly dividend of $1.10. The ex-dividend date is Tuesday, November 3rd. This represents a $5.20 dividend on an annualized basis and a yield of 2.8%. Southern Copper’s dividend payout ratio is 64.33%.

Southern Copper News Summary

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

• Positive Sentiment: Record quarterly performance: Southern Copper reported record revenue of approximately $4.70 billion and net income, with earnings per share of $2.15 exceeding the $2.02 analyst consensus. Revenue also surpassed expectations of $4.49 billion, while year-over-year EPS rose from $1.35. Southern Copper reports record sales
• Positive Sentiment: Strong copper market backdrop: Rising copper prices were identified as a key driver of the company’s record sales and profitability, reinforcing the investment case for the integrated copper producer. Southern Copper earnings report
• Positive Sentiment: Production growth potential: SCCO expects to produce about 918,000 tons of copper in 2026. Management also continues to target a first-half 2028 start for the Tía María project, which could support longer-term volume growth. Southern Copper production outlook
• Positive Sentiment: Expansion option: The company is evaluating a potential $680 million expansion at its Cuajone mine, which could add future production capacity, although no final investment decision was reported. Southern Copper weighs Cuajone expansion
• Neutral Sentiment: SCCO has announced a dividend and a 1.0106-for-1 share distribution scheduled for November 3. The share adjustment is largely mechanical and does not change the company’s underlying value. Southern Copper dividend announcement
• Negative Sentiment: Some analysts remain cautious because SCCO’s strong results may already be reflected in its valuation. Conflicting analyst views and concerns about valuation limited the positive market reaction. Southern Copper valuation concerns

About Southern Copper

Southern Copper Corporation (NYSE:SCCO) is a mining and metals company engaged primarily in the exploration, development, extraction, processing and production of copper. The company also produces molybdenum, zinc, silver and lead, along with related byproducts. Its operations include open-pit mines, underground mines, concentrators, smelters, refineries and other processing facilities.

Southern Copper operates mainly in Peru and Mexico. Its Peruvian assets include the Toquepala and Cuajone copper mines, while its Mexican operations include the Buenavista del Cobre and La Caridad mines, as well as associated processing and infrastructure facilities.