Southern Copper Corporation $SCCO Shares Sold by Amundi

Key Points

• Amundi cut its Southern Copper position by 46.2% in the second quarter, selling 207,457 shares and retaining 241,863 shares valued at approximately $42.1 million. Other institutional investors made both sizable purchases and additions during the period.
• Southern Copper reported strong quarterly results, with EPS of $1.99 beating estimates and revenue increasing 40.6% year over year. The company also raised its quarterly dividend to $1.10 per share, equivalent to a 2.3% annual yield.
• Analyst sentiment remains cautious: the stock has a consensus “Reduce” rating and an average price target of $146.84, well below its recent trading price near $194. Shares have also faced selling pressure, despite long-term support from expected copper demand growth.

Amundi decreased its position in Southern Copper Corporation (NYSE:SCCO - Free Report) by 46.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 241,863 shares of the basic materials company's stock after selling 207,457 shares during the quarter. Amundi's holdings in Southern Copper were worth $42,147,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. HighTower Advisors LLC lifted its stake in Southern Copper by 11.9% during the 2nd quarter. HighTower Advisors LLC now owns 58,421 shares of the basic materials company's stock worth $10,180,000 after acquiring an additional 6,195 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Southern Copper during the second quarter worth about $1,078,000. California State Teachers Retirement System increased its stake in Southern Copper by 8,035.9% during the second quarter. California State Teachers Retirement System now owns 20,545,080 shares of the basic materials company's stock worth $3,580,186,000 after purchasing an additional 20,292,556 shares during the period. Ameritas Advisory Services LLC lifted its position in shares of Southern Copper by 287.1% during the second quarter. Ameritas Advisory Services LLC now owns 5,052 shares of the basic materials company's stock worth $880,000 after purchasing an additional 3,747 shares in the last quarter. Finally, Wedmont Private Capital lifted its position in shares of Southern Copper by 8.8% during the second quarter. Wedmont Private Capital now owns 3,320 shares of the basic materials company's stock worth $584,000 after purchasing an additional 269 shares in the last quarter. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Southern Copper Stock Down 7.2%

Shares of Southern Copper stock opened at $194.11 on Friday. The company has a quick ratio of 4.56, a current ratio of 5.06 and a debt-to-equity ratio of 0.63. Southern Copper Corporation has a 52-week low of $101.77 and a 52-week high of $223.88. The company has a market capitalization of $161.95 billion, a P/E ratio of 28.38, a P/E/G ratio of 1.87 and a beta of 1.14. The company has a 50 day moving average of $190.16 and a 200 day moving average of $184.27.

Southern Copper (NYSE:SCCO - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The basic materials company reported $1.99 EPS for the quarter, beating analysts' consensus estimates of $1.93 by $0.06. The company 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%. Southern Copper's quarterly revenue was up 40.6% on a year-over-year basis. As a group, research analysts forecast that Southern Copper Corporation will post 7.83 EPS for the current fiscal year.

Southern Copper Increases Dividend

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

Insider Buying and Selling

In other news, Director Luis Palomino Bonilla sold 202 shares of the company's stock in a transaction dated 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 transaction, the director directly owned 1,723 shares of the company's stock, 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. Insiders sold a total of 604 shares of company stock valued at $118,077 over the last 90 days. Corporate insiders own 0.07% of the company's stock.

Analyst Upgrades and Downgrades

SCCO has been the subject of a number of research reports. Scotiabank restated an "underperform" rating and issued a $138.34 price objective (up from $133.40) on shares of Southern Copper in a report on Monday, June 15th. Wall Street Zen downgraded shares of Southern Copper from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. CICC Research lowered Southern Copper to a "market perform" rating in a research report on Sunday, July 26th. UBS Group reaffirmed a "sell" rating and set a $158.10 price objective (up from $143.28) on shares of Southern Copper in a research report on Tuesday, June 30th. Finally, Weiss Ratings upgraded Southern Copper from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, July 28th. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and seven have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Reduce" and an average target price of $146.84.

Key Southern Copper News

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

• Positive Sentiment: Longer term, Southern Copper remains positioned to benefit from structural copper demand tied to artificial-intelligence data centers, power-grid upgrades and renewable-energy infrastructure. Global mine production is weakening while demand is expected to grow, supporting the outlook for copper prices and low-cost producers. Copper’s Record Rally Highlights a Deeper Supply Problem
• Positive Sentiment: Southern Copper’s recent fundamentals remain strong: quarterly earnings exceeded estimates, revenue rose substantially year over year, and the company maintains high profitability with a return on equity near 49%. Its quarterly dividend was also increased to $1.10 per share. Southern Copper Company Information
• Neutral Sentiment: Zacks continues to highlight SCCO’s momentum and popularity among investors, but these ratings-based articles do not introduce a new fundamental catalyst. Why Southern Copper Is a Top Momentum Stock for the Long Term
• Negative Sentiment: The copper pullback affected the broader mining group, with Southern Copper and other major producers selling off as tariff-related expectations unwound. Copper Stocks Tumble as Tariff Doubt Reverses Record Rally
• Negative Sentiment: Near-term valuation concerns may amplify volatility. SCCO trades at a premium after its strong run, while the cited analyst consensus is “Reduce” with an average price target well below recent trading levels. Southern Copper Sees a More Significant Dip Than the Broader Market
• Negative Sentiment: A director sold 100 shares in a modest transaction, following several earlier sales. The sale is small relative to the company’s market value but adds a limited negative signal. Southern Copper Director Insider Selling

Southern Copper Company Profile

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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