Bank of New York Mellon Corp Has $61.89 Million Holdings in Southern Copper Corporation $SCCO

Bank of New York Mellon Corp boosted its stake in shares of Southern Copper Corporation (NYSE:SCCO) by 50.0% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 359,724 shares of the basic materials company’s stock after purchasing an additional 119,850 shares during the period. Bank of New York Mellon Corp’s holdings in Southern Copper were worth $61,894,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. State Street Corp boosted its position in Southern Copper by 2.4% during the fourth quarter. State Street Corp now owns 2,862,244 shares of the basic materials company’s stock valued at $410,646,000 after purchasing an additional 66,268 shares during the last quarter. Fisher Asset Management LLC raised its stake in shares of Southern Copper by 0.3% during the 4th quarter. Fisher Asset Management LLC now owns 2,536,228 shares of the basic materials company’s stock worth $363,873,000 after purchasing an additional 7,194 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Southern Copper by 8.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,181,293 shares of the basic materials company’s stock worth $169,480,000 after purchasing an additional 90,237 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Southern Copper by 3.6% during the 4th quarter. Vanguard Group Inc. now owns 983,822 shares of the basic materials company’s stock valued at $141,149,000 after buying an additional 33,804 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of Southern Copper by 1.5% during the 3rd quarter. Legal & General Group Plc now owns 955,924 shares of the basic materials company’s stock valued at $116,012,000 after buying an additional 14,212 shares during the last quarter. 7.94% of the stock is owned by institutional investors and hedge funds.

Southern Copper Stock Up 3.9%

SCCO opened at $195.38 on Thursday. The firm has a market cap of $161.40 billion, a P/E ratio of 32.29, a price-to-earnings-growth ratio of 1.61 and a beta of 1.11. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.89 and a current ratio of 4.38. The business has a 50 day moving average price of $180.83 and a 200 day moving average price of $183.17. Southern Copper Corporation has a twelve month low of $88.73 and a twelve month high of $223.88.

Southern Copper shares are going to split before the market opens on Tuesday, August 11th. The 1.012-1 split was recently announced. The newly issued shares will be payable to shareholders after the market closes on Monday, August 10th.

Southern Copper (NYSE:SCCO) last announced its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $2.01 EPS for the quarter, beating the consensus estimate of $1.95 by $0.06. Southern Copper had a return on equity of 45.63% and a net margin of 34.13%.The company’s revenue for the quarter was up 40.6% on a year-over-year basis. Research analysts forecast that Southern Copper Corporation will post 7.68 EPS for the current year.

Southern Copper Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Tuesday, August 11th will be paid a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Tuesday, August 11th. This is a boost from Southern Copper’s previous quarterly dividend of $1.00. Southern Copper’s dividend payout ratio (DPR) is 66.12%.

More Southern Copper News

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

• Positive Sentiment: Southern Copper beat Q2 earnings expectations, reporting $2.01 EPS versus the $1.97 consensus, while revenue rose 40.6% year over year to $4.29 billion. Strong profitability metrics, including a 34.13% net margin and 45.63% return on equity, also reinforce the company’s operational strength. Article Title
• Positive Sentiment: Investors remain encouraged by the long-term copper demand outlook, especially with AI data center growth expected to increase copper consumption and support miners like SCCO over time. Article Title
• Neutral Sentiment: The company’s upcoming 1.012-for-1 stock split on August 11 is a notable event for shareholders, but it is mostly a mechanical share-count change rather than a fundamental driver of value. Article Title
• Negative Sentiment: Copper prices weakened sharply intraday, which can weigh on SCCO because its earnings are highly sensitive to copper pricing. The broader move in the commodity raised concerns that the recent rally in copper miners could cool off. Article Title
• Negative Sentiment: Some analyst positioning remains cautious, including a recent Underweight rating from JPMorgan and a median price target below the recent trading range, suggesting Wall Street is not uniformly bullish on the shares. Article Title

Analysts Set New Price Targets

SCCO has been the topic of a number of research reports. UBS Group restated a “sell” rating and issued a $160.00 price objective (up from $145.00) on shares of Southern Copper in a report on Tuesday, June 30th. Morgan Stanley lifted their target price on shares of Southern Copper from $146.00 to $158.00 and gave the company an “underweight” rating in a research note on Wednesday, July 8th. Citigroup reissued a “positive” rating on shares of Southern Copper in a research report on Wednesday, July 15th. Wells Fargo & Company increased their price target on shares of Southern Copper from $171.00 to $172.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 9th. Finally, Weiss Ratings downgraded shares of Southern Copper from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have issued a Hold rating and seven have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $148.10.

Insider Buying and Selling

In related news, Director Bonilla Luis Miguel Palomino sold 200 shares of Southern Copper stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $177.82, for a total value of $35,564.00. Following the transaction, the director owned 1,807 shares in the company, valued at $321,320.74. This trade represents a 9.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last quarter, insiders have sold 404 shares of company stock valued at $74,108. Company insiders own 0.07% of the company’s stock.

Southern Copper Company Profile

Southern Copper Corporation (NYSE: SCCO) is a large, integrated copper producer whose operations span the full value chain from exploration and mining to smelting, refining and the sale of copper and other metal products. The company produces a range of copper products including copper concentrate and refined cathodes, and recovers valuable byproducts such as molybdenum, silver and zinc. Southern Copper concentrates on high-volume, long-life assets designed to support steady production and processing capabilities.

Southern Copper’s operations are concentrated in Peru and Mexico, where it owns and operates multiple large-scale mining and processing facilities.