Southern Copper Corporation $SCCO Stock Purchased by RWC Asset Advisors US LLC

Key Points

• RWC Asset Advisors significantly increased its Southern Copper stake by 1,286.2% in the third quarter, ending with 77,545 shares valued at approximately $15.7 million. Institutional investors own 7.94% of the company.
• Southern Copper reported a strong quarter, with $4.70 billion in revenue and $2.15 EPS, both exceeding analyst expectations. The company also raised its quarterly dividend to $1.30 per share, or a 2.8% annualized yield.
• Despite strong results and copper-market tailwinds, analysts remain cautious about valuation: the stock’s average rating is “Reduce”, with an average price target of $161.28 versus a recent price of $185.19.

RWC Asset Advisors US LLC boosted its holdings in Southern Copper Corporation (NYSE:SCCO - Free Report) by 1,286.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 77,545 shares of the basic materials company's stock after purchasing an additional 71,951 shares during the period. Southern Copper comprises 4.2% of RWC Asset Advisors US LLC's holdings, making the stock its 10th largest position. RWC Asset Advisors US LLC's holdings in Southern Copper were worth $15,714,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. bought a new stake in Southern Copper in the second quarter worth about $1,729,500,000. Bank of America Corp DE purchased a new position in Southern Copper in the second quarter valued at about $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% during the 2nd 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 acquiring an additional 27,744 shares during the period. Bollard Group LLC grew its position in shares of Southern Copper by 14.0% during the 1st quarter. Bollard Group LLC now owns 861,950 shares of the basic materials company's stock valued at $148,307,000 after acquiring an additional 105,763 shares during the period. Finally, Legal & General Group Plc bought a new position in shares of Southern Copper during the 2nd quarter valued at approximately $149,739,000. Institutional investors own 7.94% of the company's stock.

Insider Activity at Southern Copper

In other 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 in the company, valued at approximately $339,066.65. The trade was a 10.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 603 shares of company stock valued at $120,213 over the last three months. 0.07% of the stock is owned by company insiders.

More 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 Stock Performance

Shares of SCCO stock traded up $1.60 during trading on Friday, reaching $185.19. 1,483,477 shares of the company's stock traded hands, compared to its average volume of 1,051,778. The company has a market capitalization of $154.51 billion, a P/E 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. The firm's 50-day moving average is $201.50 and its 200 day moving average is $188.14. Southern Copper Corporation has a 1 year low of $119.25 and a 1 year high of $223.88.

Southern Copper's stock is going to split before the market opens on Tuesday, November 3rd. The 1.0106-1 split was recently announced. The newly issued shares will be distributed to shareholders after the closing bell on Monday, November 2nd.

Southern Copper (NYSE:SCCO - Get Free Report) last released its quarterly earnings data 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. Southern Copper had a net margin of 37.16% and a return on equity of 53.46%. The business had revenue of $4.70 billion during the quarter, compared to analyst estimates of $4.49 billion. During the same period in the previous year, the business earned $1.35 EPS. Equities research analysts expect that Southern Copper Corporation will post 7.97 EPS for the current year.

Southern Copper Increases Dividend

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

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Barclays restated an "underweight" rating and set a $168.00 price target (up from $166.00) on shares of Southern Copper in a research note on Monday. Wall Street Zen upgraded Southern Copper from a "hold" rating to a "buy" rating in a research note on Saturday, October 10th. Zacks Research lowered Southern Copper from a "strong-buy" rating to a "hold" rating in a report on Friday, August 7th. 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 report on Thursday, October 8th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and seven have given a Sell rating to the company's stock. Based on data from MarketBeat, Southern Copper has an average rating of "Reduce" and an average target price of $161.28.

Southern Copper 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.

Want to see what other hedge funds are holding SCCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Southern Copper Corporation (NYSE:SCCO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.