5,065 Southern Copper Corporation $SCCO Shares Sold by Powell Investment Advisors LLC

Powell Investment Advisors LLC lowered its stake in shares of Southern Copper Corporation (NYSE:SCCO) by 51.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,833 shares of the basic materials company’s stock after selling 5,065 shares during the period. Powell Investment Advisors LLC’s holdings in Southern Copper were worth $979,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Bell Investment Advisors Inc acquired a new stake in shares of Southern Copper in the 2nd quarter valued at about $26,000. Rakuten Securities Inc. bought a new stake in Southern Copper in the 2nd quarter valued at about $28,000. SHP Wealth Management acquired a new position in Southern Copper during the 4th quarter worth approximately $25,000. Compass Financial Management LLC acquired a new position in Southern Copper during the 2nd quarter worth approximately $41,000. Finally, Caitlin John LLC acquired a new position in Southern Copper during the 2nd quarter worth approximately $43,000. Institutional investors and hedge funds own 7.94% of the company’s stock.

Wall Street Analysts Forecast Growth

SCCO has been the topic of several recent research reports. Weiss Ratings upgraded Southern Copper from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, October 8th. Wall Street Zen upgraded Southern Copper from a “hold” rating to a “buy” rating in a report on Saturday, October 10th. Morgan Stanley reaffirmed an “underweight” rating and set a $170.00 target price on shares of Southern Copper in a research report on Wednesday, October 7th. CICC Research lowered Southern Copper to a “market perform” rating in a research report on Sunday, July 26th. Finally, Zacks Research cut Southern Copper from a “strong-buy” rating to a “hold” rating in a report on Friday, August 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 stock. According to data from MarketBeat.com, Southern Copper presently has a consensus rating of “Reduce” and a consensus price target of $160.95.

Southern Copper Stock Performance

NYSE SCCO opened at $183.03 on Friday. Southern Copper Corporation has a 1 year low of $119.25 and a 1 year high of $223.88. The company has a debt-to-equity ratio of 0.63, a current ratio of 5.06 and a quick ratio of 4.56. The firm has a market cap of $152.70 billion, a price-to-earnings ratio of 26.76, a PEG ratio of 1.84 and a beta of 1.11. The company has a fifty day moving average price of $201.48 and a 200-day moving average price of $188.16.

Shares of Southern Copper are going to split on the morning of Tuesday, November 3rd. The 1.0106-1 split was recently announced. The newly issued shares will be issued to shareholders after the market closes on Monday, November 2nd.

Southern Copper (NYSE:SCCO) last released its quarterly earnings results on Wednesday, October 21st. The basic materials company reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.13. Southern Copper had a net margin of 37.16% and a return on equity of 53.46%. The company had revenue of $4.70 billion for the quarter, compared to analyst estimates of $4.49 billion. As a group, equities research analysts predict that Southern Copper Corporation will post 7.97 EPS for the current fiscal year.

Southern Copper Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Tuesday, November 3rd will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Tuesday, November 3rd. This is a positive change from Southern Copper’s previous quarterly dividend of $1.10. Southern Copper’s payout ratio is currently 64.33%.

More Southern Copper News

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

• Positive Sentiment: Record Q3 performance: Third-quarter sales rose 39.1% year over year to $4.70 billion, while net income increased 62.7% to $1.80 billion, or $2.15 per share. Earnings and revenue exceeded analyst expectations. Operating cash flow also rose 42.6% to $2.22 billion. Southern Copper Posts Record $4.7 Billion Third-Quarter Sales
• Positive Sentiment: Shareholder returns and growth plans: The board approved a $1.30 quarterly dividend and a 1.06% stock dividend. Southern Copper is also targeting annual production of one million tonnes and is weighing a roughly $680 million expansion of its Cuajone mine, which could support longer-term output growth. Southern Copper weighs $680M Cuajone mine expansion
• Neutral Sentiment: Upcoming stock split: SCCO is scheduled to distribute 0.0106 additional shares per share after the November 2 close, with trading on a split-adjusted basis expected to begin November 3. The action may improve trading accessibility but does not by itself change the company’s fundamental value. Southern Copper Shares Set to Split
• Negative Sentiment: Valuation and execution concerns: Bank of America maintained a Sell rating, citing SCCO’s rich valuation and delays or uncertainty surrounding growth projects. Copper production fell 1.1% year over year to 232,396 tonnes, making recent earnings more dependent on higher metal prices. Southern Copper: Record Results but Rich Valuation and Project Delays
• Negative Sentiment: Profit-taking risk: Reports of insider transactions show selling rather than purchases over the past six months, while the stock’s elevated valuation may be encouraging investors to lock in gains after its strong run.

Insider Transactions at Southern Copper

In other Southern Copper news, Director Luis Palomino Bonilla sold 202 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $196.79, for a total value of $39,751.28. Following the completion of 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders have sold 603 shares of company stock valued at $120,213. Corporate insiders own 0.07% of the company’s stock.

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.