VIRGINIA RETIREMENT SYSTEMS ET Al Acquires New Shares in Southern Copper Corporation $SCCO

Key Points

• Virginia Retirement Systems acquired 6,184 Southern Copper shares worth approximately $1.08 million in the second quarter. Institutional investors collectively own 7.94% of the company.
• Southern Copper reported quarterly EPS of $1.99, beating estimates of $1.93, while revenue rose 40.6% year over year to $4.29 billion. The company also increased its quarterly dividend to $1.10 per share, or $4.40 annually.
• Despite strong earnings and copper-demand prospects, analyst sentiment remains cautious: the consensus rating is “Reduce”, with an average price target of $146.84 versus the stock’s recent price near $193.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Southern Copper Corporation (NYSE:SCCO - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 6,184 shares of the basic materials company's stock, valued at approximately $1,078,000.

Several other large investors have also made changes to their positions in the company. SHP Wealth Management acquired a new stake in Southern Copper in the fourth quarter valued at approximately $25,000. Bell Investment Advisors Inc acquired a new stake in shares of Southern Copper in the 2nd quarter valued at $26,000. Rakuten Securities Inc. acquired a new stake in shares of Southern Copper in the 2nd quarter valued at $28,000. Lloyd Advisory Services LLC. bought a new stake in Southern Copper in the fourth quarter worth $29,000. Finally, Virtus Advisers LLC bought a new stake in Southern Copper in the fourth quarter worth $29,000. Institutional investors own 7.94% of the company's stock.

Southern Copper Trading Down 0.1%

Southern Copper stock opened at $193.22 on Monday. Southern Copper Corporation has a 52 week low of $104.98 and a 52 week high of $223.88. The company has a debt-to-equity ratio of 0.63, a quick ratio of 4.56 and a current ratio of 5.06. The firm has a market capitalization of $161.21 billion, a PE ratio of 28.25, a PEG ratio of 1.73 and a beta of 1.14. The business's 50-day simple moving average is $190.63 and its 200-day simple moving average is $184.19.

Southern Copper (NYSE:SCCO - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The basic materials company reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.93 by $0.06. The firm had revenue of $4.29 billion during the quarter, compared to the consensus estimate of $4.37 billion. Southern Copper had a return on equity of 49.04% and a net margin of 35.87%.The business's revenue was up 40.6% on a year-over-year basis. Equities research analysts forecast that Southern Copper Corporation will post 7.83 earnings per share for the current year.

Southern Copper Increases Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. raised their target price on Southern Copper from $125.49 to $129.94 and gave the company an "underweight" rating in a report on Wednesday, June 17th. Citigroup reissued a "positive" rating on shares of Southern Copper in a research note on Wednesday, July 15th. Wall Street Zen lowered Southern Copper from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Morgan Stanley upped their target price on Southern Copper from $144.27 to $156.13 and gave the stock an "underweight" rating in a research report on Wednesday, July 8th. Finally, Scotiabank reiterated an "underperform" rating and set a $138.34 price target (up from $133.40) on shares of Southern Copper in a report on Monday, June 15th. Three investment 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. According to data from MarketBeat.com, the company presently has an average rating of "Reduce" and an average 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

Insider Activity

In other news, Director Luis Palomino Bonilla sold 202 shares of the firm's stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $196.79, for a total value of $39,751.28. Following the sale, the director owned 1,723 shares in the company, valued at approximately $339,066.65. This trade represents a 10.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 604 shares of company stock valued at $118,077 in the last 90 days. Company insiders own 0.07% of the company's stock.

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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