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

Bank of New York Mellon Corp grew its holdings in Southern Copper Corporation (NYSE:SCCO) by 50.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 359,724 shares of the basic materials company’s stock after acquiring an additional 119,850 shares during the quarter. Bank of New York Mellon Corp’s holdings in Southern Copper were worth $61,894,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of SCCO. National Wealth Management Group LLC bought a new position in shares of Southern Copper during the 4th quarter worth about $1,281,000. Savvy Advisors Inc. bought a new stake in shares of Southern Copper in the fourth quarter valued at about $1,434,000. Oak Harvest Investment Services bought a new stake in shares of Southern Copper in the fourth quarter valued at about $7,650,000. US Bancorp DE lifted its stake in shares of Southern Copper by 16.2% in the fourth quarter. US Bancorp DE now owns 74,484 shares of the basic materials company’s stock valued at $10,687,000 after buying an additional 10,360 shares during the period. Finally, Affinity Wealth Management LLC acquired a new stake in Southern Copper during the fourth quarter worth about $3,379,000. Institutional investors and hedge funds own 7.94% of the company’s stock.

Key Stories Impacting Southern Copper

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

Southern Copper Stock Performance

NYSE:SCCO opened at $195.38 on Thursday. Southern Copper Corporation has a 12-month low of $88.73 and a 12-month high of $223.88. The company has a quick ratio of 3.89, a current ratio of 4.38 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $161.40 billion, a PE ratio of 32.29, a price-to-earnings-growth ratio of 1.61 and a beta of 1.11. The firm has a 50-day moving average price of $180.83 and a 200 day moving average price of $183.17.

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

Southern Copper (NYSE:SCCO) last released its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $2.01 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $0.06. Southern Copper had a return on equity of 45.63% and a net margin of 34.13%.The business’s revenue for the quarter was up 40.6% compared to the same quarter last year. Research analysts anticipate that Southern Copper Corporation will post 7.68 earnings per share for the current fiscal year.

Southern Copper Increases Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Tuesday, August 11th. This represents a $4.40 annualized dividend and a yield of 2.3%. This is a positive change from Southern Copper’s previous quarterly dividend of $1.00. Southern Copper’s payout ratio is presently 66.12%.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

SCCO has been the topic of several research reports. Barclays restated an “underweight” rating and set a $160.00 price target (up from $148.00) on shares of Southern Copper in a research note on Wednesday, July 15th. Citigroup reissued a “positive” rating on shares of Southern Copper in a report on Wednesday, July 15th. The Goldman Sachs Group upgraded Southern Copper from a “sell” rating to a “neutral” rating and set a $178.00 price objective on the stock in a research report on Friday, April 10th. Zacks Research upgraded Southern Copper from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 9th. Finally, JPMorgan Chase & Co. raised their target price on Southern Copper from $127.00 to $131.50 and gave the stock an “underweight” rating in a research report on Wednesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have given a Hold rating and seven have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Southern Copper currently has an average rating of “Reduce” and a consensus target price of $148.10.

About Southern Copper

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.