Allworth Financial LP Acquires 7,489 Shares of Southern Copper Corporation $SCCO

Key Points

• Allworth Financial increased its Southern Copper stake by 320.7% in the second quarter, acquiring 7,489 shares and bringing its total holdings to 9,824 shares valued at approximately $1.71 million.
• Southern Copper reported quarterly EPS of $1.99, ahead of the $1.93 consensus, while revenue rose 40.6% year over year. The company also raised its quarterly dividend to $1.10 per share, equivalent to a 2.3% annualized yield.
• Analyst sentiment remains cautious, with an average “Reduce” rating and a consensus price target of $146.84 versus the stock’s recent price near $193. Valuation concerns and copper-market uncertainty add downside risks despite the company’s strong operating momentum.

Allworth Financial LP boosted its stake in Southern Copper Corporation (NYSE:SCCO - Free Report) by 320.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,824 shares of the basic materials company's stock after acquiring an additional 7,489 shares during the period. Allworth Financial LP's holdings in Southern Copper were worth $1,712,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the stock. Intech Investment Management LLC lifted its holdings in Southern Copper by 0.8% during the 4th quarter. Intech Investment Management LLC now owns 6,030 shares of the basic materials company's stock worth $865,000 after purchasing an additional 50 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al boosted its position in Southern Copper by 0.8% during the fourth quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 6,072 shares of the basic materials company's stock valued at $871,000 after buying an additional 51 shares during the period. Steel Grove Capital Advisors LLC grew its stake in shares of Southern Copper by 1.8% during the fourth quarter. Steel Grove Capital Advisors LLC now owns 2,910 shares of the basic materials company's stock valued at $417,000 after buying an additional 52 shares during the last quarter. Emergent Wealth Advisors LLC grew its stake in shares of Southern Copper by 1.0% during the second quarter. Emergent Wealth Advisors LLC now owns 5,366 shares of the basic materials company's stock valued at $935,000 after buying an additional 53 shares during the last quarter. Finally, Ensign Peak Advisors Inc grew its stake in shares of Southern Copper by 0.8% during the fourth quarter. Ensign Peak Advisors Inc now owns 6,379 shares of the basic materials company's stock valued at $915,000 after buying an additional 53 shares during the last quarter. Hedge funds and other institutional investors own 7.94% of the company's stock.

Insider Buying and Selling

In related news, Director Luis Palomino Bonilla sold 202 shares of the firm's stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $196.79, for a total transaction of $39,751.28. Following the completion of the sale, the director directly owned 1,723 shares of the company's stock, valued at approximately $339,066.65. This trade represents a 10.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 604 shares of company stock worth $118,077 over the last ninety days. 0.07% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Zacks Research cut Southern Copper from a "strong-buy" rating to a "hold" rating in a report on Friday, August 7th. Scotiabank reiterated an "underperform" rating and issued a $138.34 price objective (up from $133.40) on shares of Southern Copper in a research report on Monday, June 15th. Wells Fargo & Company upped their target price on Southern Copper from $168.97 to $169.96 and gave the company an "equal weight" rating in a report on Thursday, July 9th. Citigroup reissued a "positive" rating on shares of Southern Copper in a research report on Wednesday, July 15th. Finally, Wall Street Zen lowered Southern Copper from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and seven have issued a Sell rating to the company's stock. Based on data from MarketBeat, Southern Copper presently has an average rating of "Reduce" and a consensus target price of $146.84.

Key Stories Impacting Southern Copper

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

Southern Copper Stock Down 0.5%

Shares of SCCO stock opened at $193.22 on Friday. The company has a market capitalization of $161.21 billion, a price-to-earnings ratio of 28.25, a PEG ratio of 1.73 and a beta of 1.14. The company has a debt-to-equity ratio of 0.63, a current ratio of 5.06 and a quick ratio of 4.56. The company's fifty day moving average price is $190.63 and its 200-day moving average price is $184.33. Southern Copper Corporation has a one year low of $104.98 and a one year high of $223.88.

Southern Copper (NYSE:SCCO - Get Free Report) last released its earnings results on Wednesday, July 22nd. The basic materials company reported $1.99 EPS for the quarter, topping the consensus estimate of $1.93 by $0.06. The firm had revenue of $4.29 billion for the quarter, compared to the consensus estimate of $4.37 billion. Southern Copper had a net margin of 35.87% and a return on equity of 49.04%. The company's revenue for the quarter was up 40.6% compared to the same quarter last year. Sell-side analysts expect that Southern Copper Corporation will post 7.83 EPS for the current fiscal year.

Southern Copper Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 27th. Shareholders of record on Tuesday, August 11th were given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 2.3%. This is a boost from Southern Copper's previous quarterly dividend of $1.00. The ex-dividend date was Tuesday, August 11th. Southern Copper's dividend payout ratio (DPR) is currently 64.33%.

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.

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