Royal Palms Capital LLC bought a new stake in shares of Southern Copper Corporation (NYSE:SCCO – Free Report) in the third quarter, Holdings Channel reports. The institutional investor bought 18,870 shares of the basic materials company’s stock, valued at approximately $3,824,000. Southern Copper comprises about 3.4% of Royal Palms Capital LLC’s holdings, making the stock its 9th biggest holding.
A number of other hedge funds and other institutional investors have also recently modified their holdings of SCCO. Plimoth Trust Co. LLC increased its position in Southern Copper by 0.8% in the second quarter. Plimoth Trust Co. LLC now owns 6,218 shares of the basic materials company’s stock worth $1,084,000 after purchasing an additional 48 shares during the last quarter. Focus Financial Network Inc. lifted its position in Southern Copper by 1.0% during the third quarter. Focus Financial Network Inc. now owns 5,076 shares of the basic materials company’s stock valued at $1,029,000 after purchasing an additional 52 shares during the last quarter. Emergent Wealth Advisors LLC lifted its position in 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 purchasing an additional 53 shares during the last quarter. Terra Nova Asset Management LLC lifted its position in Southern Copper by 1.4% during the third quarter. Terra Nova Asset Management LLC now owns 3,924 shares of the basic materials company’s stock valued at $795,000 after purchasing an additional 55 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Southern Copper by 1.2% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,250 shares of the basic materials company’s stock worth $1,064,000 after buying an additional 62 shares in the last quarter. 7.94% of the stock is currently owned by institutional investors.
Insider Activity
In other news, Director Luis Palomino Bonilla sold 202 shares of the business’s stock in a transaction on Wednesday, August 5th. The shares were 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. 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 this link. Insiders have sold 603 shares of company stock worth $120,213 over the last ninety days. 0.07% of the stock is currently owned by insiders.
Trending Headlines about Southern Copper
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
Analyst Upgrades and Downgrades
SCCO has been the subject of a number of recent research reports. CICC Research cut shares of Southern Copper to a “market perform” rating in a research note on Sunday, July 26th. Weiss Ratings upgraded Southern Copper from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, October 8th. Barclays reissued an “underweight” rating and set a $168.00 target price (up from $166.00) on shares of Southern Copper in a research report on Monday, October 19th. Wells Fargo & Company set a $193.00 price target on Southern Copper and gave the company an “equal weight” rating in a report on Friday. Finally, Morgan Stanley reiterated an “underweight” rating and set a $170.00 price target on shares of Southern Copper in a report on Wednesday, October 7th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and seven have given a Sell rating to the company’s stock. According to data from MarketBeat, Southern Copper presently has an average rating of “Reduce” and a consensus price target of $161.28.
View Our Latest Research Report on SCCO
Southern Copper Trading Up 0.1%
Shares of NYSE SCCO opened at $185.19 on Monday. Southern Copper Corporation has a fifty-two week low of $119.25 and a fifty-two 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 company has a market cap of $154.51 billion, a price-to-earnings ratio of 24.24, a PEG ratio of 1.71 and a beta of 1.11. The business’s 50 day moving average price is $201.50 and its 200-day moving average price is $188.23.
Southern Copper’s stock is going to split on Tuesday, November 3rd. The 1.0106-1 split was recently announced. The newly minted shares will be distributed to shareholders after the market closes on Monday, November 2nd.
Southern Copper (NYSE:SCCO – Get Free Report) last posted its quarterly earnings data on Wednesday, October 21st. The basic materials company reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.12. The company had revenue of $4.70 billion during the quarter, compared to analysts’ expectations of $4.49 billion. Southern Copper had a return on equity of 53.46% and a net margin of 37.16%. During the same quarter in the previous year, the business earned $1.35 EPS. On average, sell-side analysts expect that Southern Copper Corporation will post 8.03 earnings per share for the current year.
Southern Copper Increases Dividend
The firm also recently announced 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. This represents a $5.20 annualized dividend and a dividend yield of 2.8%. This is a positive change from Southern Copper’s previous quarterly dividend of $1.10. The ex-dividend date is Tuesday, November 3rd. Southern Copper’s dividend payout ratio is 57.59%.
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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