Inspire Investing LLC Acquires 6,526 Shares of Southern Copper Corporation $SCCO

Key Points

• Inspire Investing increased its Southern Copper stake by 16.3% in the third quarter, adding 6,526 shares and bringing its holdings to 46,552 shares valued at approximately $9.4 million.
• Southern Copper reported better-than-expected quarterly results, with EPS of $2.15 and revenue of $4.70 billion. The company also raised its quarterly dividend to $1.30 per share, representing a 2.8% annualized yield.
• Despite strong operating performance and copper-market tailwinds, analyst sentiment remains cautious: the stock has a consensus “Reduce” rating and a target price of $161.28, below its reported $185.19 share price.

Inspire Investing LLC lifted its holdings in shares of Southern Copper Corporation (NYSE:SCCO - Free Report) by 16.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 46,552 shares of the basic materials company's stock after purchasing an additional 6,526 shares during the quarter. Inspire Investing LLC's holdings in Southern Copper were worth $9,433,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. acquired a new position in shares of Southern Copper in the second quarter valued at approximately $1,729,500,000. Bank of America Corp DE acquired a new stake in Southern Copper during the 2nd quarter worth approximately $318,448,000. Legal & General Group Plc acquired a new stake in Southern Copper during the 2nd quarter worth approximately $149,739,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Southern Copper during the 1st quarter worth approximately $85,342,000. Finally, Deutsche Bank AG purchased a new position in Southern Copper in the 2nd quarter valued at approximately $85,770,000. Hedge funds and other institutional investors own 7.94% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on SCCO. Wall Street Zen upgraded shares of Southern Copper from a "hold" rating to a "buy" rating in a research note on Saturday, October 10th. Zacks Research cut Southern Copper from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 7th. Citigroup reiterated a "positive" rating on shares of Southern Copper in a research note on Wednesday, July 15th. CICC Research lowered Southern Copper to a "market perform" rating in a report on Sunday, July 26th. Finally, Weiss Ratings raised Southern Copper from a "buy (b)" rating to a "buy (b+)" rating in a research note on Thursday, October 8th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and seven have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus target price of $161.28.

Insider Activity at Southern Copper

In other news, Director Luis Palomino Bonilla sold 202 shares of the stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $196.79, for a total value of $39,751.28. Following the transaction, the director owned 1,723 shares in the company, valued at approximately $339,066.65. This represents a 10.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last quarter, insiders sold 603 shares of company stock valued at $120,213. Corporate insiders own 0.07% of the company's stock.

Southern Copper Trading Up 0.9%

Shares of NYSE:SCCO opened at $185.19 on Friday. Southern Copper Corporation has a 52 week low of $119.25 and a 52 week high of $223.88. The company's 50 day moving average is $201.50 and its two-hundred day moving average is $188.14. The company has a market cap of $154.51 billion, a PE ratio of 24.24, a P/E/G 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's stock is set to split on Tuesday, November 3rd. The 1.0106-1 split was recently announced. The newly minted shares will be issued to shareholders after the closing bell on Monday, November 2nd.

Southern Copper (NYSE:SCCO - Get Free Report) last issued its earnings results on Wednesday, October 21st. The basic materials company reported $2.15 EPS for the quarter, topping analysts' consensus estimates of $2.03 by $0.12. Southern Copper had a net margin of 37.16% and a return on equity of 53.46%. The firm had revenue of $4.70 billion during the quarter, compared to the consensus estimate of $4.49 billion. During the same quarter in the previous year, the firm posted $1.35 earnings per share. Equities analysts predict that Southern Copper Corporation will post 7.97 earnings per share for the current fiscal year.

Southern Copper Increases Dividend

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

Key Southern Copper News

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

Southern Copper Company Profile

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.

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