Recent Insider Transactions • Jun 12
Special Independent Director recently sold US$724 worth of stock On the 5th of June, Luis Palomino Bonilla sold around 4.0 shares on-market at roughly US$181 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth US$36k. Insiders have been net sellers, collectively disposing of US$3.3m more than they bought in the last 12 months. Valuation Update With 7 Day Price Move • Jun 09
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to US$170, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 6x in the Metals and Mining industry in the United Kingdom. Total returns to shareholders of 174% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$105 per share. Board Change • Jun 03
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 1 experienced director. 5 highly experienced directors. Independent Director Jose Valenzuela Rionda was the last director to join the board, commencing their role in 2024. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • May 30
Special Independent Director recently sold US$36k worth of stock On the 21st of May, Luis Palomino Bonilla sold around 200 shares on-market at roughly US$178 per share. This transaction amounted to 10.0% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$997k. Insiders have been net sellers, collectively disposing of US$3.3m more than they bought in the last 12 months. Recent Insider Transactions • May 28
Special Independent Director recently sold US$36k worth of stock On the 21st of May, Luis Palomino Bonilla sold around 200 shares on-market at roughly US$178 per share. This transaction amounted to 10.0% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$997k. Insiders have been net sellers, collectively disposing of US$3.3m more than they bought in the last 12 months. Buy Or Sell Opportunity • Apr 30
Now 19% overvalued Over the last 90 days, the stock has fallen 12% to US$169. The fair value is estimated to be US$143, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 21%. For the next 3 years, revenue is forecast to grow by 5.3% per annum. Earnings are also forecast to grow by 5.9% per annum over the same time period. Reported Earnings • Apr 30
First quarter 2026 earnings released: EPS: US$1.92 (vs US$1.15 in 1Q 2025) First quarter 2026 results: EPS: US$1.92 (up from US$1.15 in 1Q 2025). Revenue: US$4.25b (up 36% from 1Q 2025). Net income: US$1.58b (up 67% from 1Q 2025). Profit margin: 37% (up from 30% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Metals and Mining industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has increased by 34% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Apr 29
Fourth quarter dividend of US$1.00 announced Shareholders will receive a dividend of US$1.00. Ex-date: 13th May 2026 Payment date: 29th May 2026 Dividend yield will be 2.2%, which is lower than the industry average of 7.3%. Sustainability & Growth Dividend is covered by earnings (58% earnings payout ratio) but not adequately covered by cash flows (96% cash payout ratio). The dividend has increased by an average of 29% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 24% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Apr 21
Southern Copper Corporation, Annual General Meeting, May 29, 2026 Southern Copper Corporation, Annual General Meeting, May 29, 2026. Valuation Update With 7 Day Price Move • Mar 09
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to US$184, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 8x in the Metals and Mining industry in the United Kingdom. Total returns to shareholders of 196% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$177 per share. Reported Earnings • Mar 03
Full year 2025 earnings released: EPS: US$5.20 (vs US$4.14 in FY 2024) Full year 2025 results: EPS: US$5.20 (up from US$4.14 in FY 2024). Revenue: US$13.4b (up 17% from FY 2024). Net income: US$4.33b (up 28% from FY 2024). Profit margin: 32% (up from 30% in FY 2024). The increase in margin was driven by higher revenue. Production and reserves: Copper Production: 0.956 Mt (0.974 Mt in FY 2024) Proved and probable reserves (ore): 14,752 Mt (15,175 Mt in FY 2024) Number of mines: 5 (5 in FY 2024) Molybdenum Production: 31,154 t (28,998 t in FY 2024) Proved and probable reserves (ore): 8,326 Mt (8,580 Mt in FY 2024) Number of mines: 4 (4 in FY 2024) Silver Production: 28,384 troy koz (25,054 troy koz in FY 2024) Proved and probable reserves (ore): 1,230 Mt (1,230 Mt in FY 2024) Number of mines: 1 (1 in FY 2024) Revenue is forecast to grow 5.8% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Metals and Mining industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has increased by 47% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Feb 28
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 63% to US$217. The fair value is estimated to be US$181, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.5% over the last 3 years. Earnings per share has grown by 17%. For the next 3 years, revenue is forecast to grow by 5.8% per annum. Earnings are also forecast to grow by 6.0% per annum over the same time period. Recent Insider Transactions • Feb 09
Non-Independent Director recently sold US$2.0m worth of stock On the 3rd of February, Leonardo Contreras Lerdo de Tejada sold around 9k shares on-market at roughly US$211 per share. This transaction amounted to 94% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$2.2m more than they bought in the last 12 months. New Risk • Feb 07
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 7.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (7.3% average weekly change). Significant insider selling over the past 3 months (US$2.0m sold). Recent Insider Transactions • Feb 04
Non-Independent Director recently sold US$2.0m worth of stock On the 3rd of February, Leonardo Contreras Lerdo de Tejada sold around 9k shares on-market at roughly US$211 per share. This transaction amounted to 94% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$2.2m more than they bought in the last 12 months. Buy Or Sell Opportunity • Feb 04
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 58% to US$210. The fair value is estimated to be US$169, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.5% over the last 3 years. Earnings per share has grown by 17%. For the next 3 years, revenue is forecast to grow by 6.0% per annum. Earnings are also forecast to grow by 4.5% per annum over the same time period. Reported Earnings • Jan 29
Full year 2025 earnings released: EPS: US$5.24 (vs US$4.18 in FY 2024) Full year 2025 results: EPS: US$5.24 (up from US$4.18 in FY 2024). Revenue: US$13.4b (up 17% from FY 2024). Net income: US$4.33b (up 28% from FY 2024). Profit margin: 32% (up from 30% in FY 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Metals and Mining industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has increased by 43% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Jan 25
Third quarter dividend of US$1.00 announced Shareholders will receive a dividend of US$1.00. Ex-date: 10th February 2026 Payment date: 27th February 2026 Dividend yield will be 1.8%, which is lower than the industry average of 7.3%. Sustainability & Growth Dividend is covered by both earnings (61% earnings payout ratio) and cash flows (84% cash payout ratio). The dividend has increased by an average of 27% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 32% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Valuation Update With 7 Day Price Move • Jan 09
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to US$170, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 7x in the Metals and Mining industry in the United Kingdom. Total returns to shareholders of 164% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$104 per share. Reported Earnings • Oct 30
Third quarter 2025 earnings released: EPS: US$1.35 (vs US$1.11 in 3Q 2024) Third quarter 2025 results: EPS: US$1.35 (up from US$1.11 in 3Q 2024). Revenue: US$3.38b (up 15% from 3Q 2024). Net income: US$1.11b (up 24% from 3Q 2024). Profit margin: 33% (up from 31% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Metals and Mining industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 45% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Oct 29
Second quarter dividend of US$0.90 announced Shareholders will receive a dividend of US$0.90. Ex-date: 12th November 2025 Payment date: 28th November 2025 Dividend yield will be 2.1%, which is lower than the industry average of 7.3%. Sustainability & Growth Dividend is covered by both earnings (59% earnings payout ratio) and cash flows (74% cash payout ratio). The dividend has increased by an average of 26% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 21% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Oct 29
Southern Copper Corporation Declares Quarterly Cash Dividend, Payable on November 28, 2025 Southern Copper Corporation's Board of Directors authorized a quarterly cash dividend of 0.90 per share of common stock and a stock dividend of 0.0085 shares of common stock per share of common stock payable on November 28, 2025, to shareholders of record at the close of business on November 12, 2025. Reported Earnings • Jul 30
Second quarter 2025 earnings released: EPS: US$1.22 (vs US$1.19 in 2Q 2024) Second quarter 2025 results: EPS: US$1.22 (up from US$1.19 in 2Q 2024). Revenue: US$3.05b (down 2.2% from 2Q 2024). Net income: US$973.4m (up 2.4% from 2Q 2024). Profit margin: 32% (up from 31% in 2Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 1.4% growth forecast for the Metals and Mining industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 29% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • May 12
Now 21% overvalued The stock has been flat over the last 90 days, currently trading at US$91.67. The fair value is estimated to be US$75.48, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 2.7% over the last 3 years. Earnings per share has grown by 3.9%. Revenue is forecast to decline by 0.5% in 2 years. Earnings are forecast to grow by 2.7% in the next 2 years. Reported Earnings • Apr 27
First quarter 2025 earnings released: EPS: US$1.19 (vs US$0.92 in 1Q 2024) First quarter 2025 results: EPS: US$1.19 (up from US$0.92 in 1Q 2024). Revenue: US$3.12b (up 20% from 1Q 2024). Net income: US$945.9m (up 28% from 1Q 2024). Profit margin: 30% (up from 28% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 2.2% growth forecast for the Metals and Mining industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 15% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Apr 25
Upcoming dividend of US$0.70 per share Eligible shareholders must have bought the stock before 02 May 2025. Payment date: 19 May 2025. Payout ratio is a comfortable 48% and this is well supported by cash flows. Trailing yield: 2.9%. Lower than top quartile of British dividend payers (6.1%). Lower than average of industry peers (4.3%). Announcement • Apr 14
Southern Copper Corporation, Annual General Meeting, May 23, 2025 Southern Copper Corporation, Annual General Meeting, May 23, 2025. Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to US$79.90, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 9x in the Metals and Mining industry in the United Kingdom. Total returns to shareholders of 26% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$71.74 per share. Buy Or Sell Opportunity • Mar 06
Now 21% overvalued Over the last 90 days, the stock has fallen 7.2% to US$91.89. The fair value is estimated to be US$75.90, however this is not to be taken as a sell recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to grow by 4.2% per annum. Earnings are also forecast to grow by 8.4% per annum over the same time period. Announcement • Feb 13
Southern Copper Corporation Authorizes a Quarterly Cash Dividend, Payable on February 27, 2025 On January 23, 2025, the Board of Directors of Southern Copper Corporation authorized a quarterly cash dividend of $0.70 per share of common stock, payable on February 27, 2025, to shareholders of record at the close of business on February 11, 2025. Reported Earnings • Feb 13
Full year 2024 earnings released: EPS: US$4.33 (vs US$3.05 in FY 2023) Full year 2024 results: EPS: US$4.33 (up from US$3.05 in FY 2023). Revenue: US$11.4b (up 16% from FY 2023). Net income: US$3.38b (up 39% from FY 2023). Profit margin: 30% (up from 25% in FY 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 1.6% growth forecast for the Metals and Mining industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Declared Dividend • Jan 29
Dividend of US$0.70 announced Shareholders will receive a dividend of US$0.70. Ex-date: 11th February 2025 Payment date: 27th February 2025 Dividend yield will be 2.2%, which is lower than the industry average of 7.3%. Sustainability & Growth Dividend is covered by both earnings (61% earnings payout ratio) and cash flows (86% cash payout ratio). The dividend has increased by an average of 15% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 20% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • Dec 10
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 15% to US$107. The fair value is estimated to be US$86.57, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 6.8%. For the next 3 years, revenue is forecast to grow by 5.0% per annum. Earnings are also forecast to grow by 6.2% per annum over the same time period. Buy Or Sell Opportunity • Nov 18
Now 21% overvalued Over the last 90 days, the stock has fallen 1.7% to US$101. The fair value is estimated to be US$83.14, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 6.8%. For the next 3 years, revenue is forecast to grow by 4.9% per annum. Earnings are also forecast to grow by 6.2% per annum over the same time period. Declared Dividend • Oct 27
Dividend of US$0.70 announced Shareholders will receive a dividend of US$0.70. Ex-date: 6th November 2024 Payment date: 21st November 2024 Dividend yield will be 1.8%, which is lower than the industry average of 7.3%. Sustainability & Growth Dividend is covered by both earnings (61% earnings payout ratio) and cash flows (86% cash payout ratio). The dividend has increased by an average of 15% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 24% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Oct 23
Southern Copper Corporation Announces Resignation of Gilberto Perezalonso Cifuentes as Member of the Board of Directors Southern Copper Corporation announced on October 17, 2024, the board of directors of the company learned of the resignation of Mr. Gilberto Perezalonso Cifuentes as a member of the board of directors of the company effective October 16, 2024. Mr. Perezalonso Cifuentes resigned to pursue other professional interests. There was no disagreement between Mr. Perezalonso Cifuentes and SCC or with SCC’s management. Reported Earnings • Oct 22
Third quarter 2024 earnings released: EPS: US$1.15 (vs US$0.79 in 3Q 2023) Third quarter 2024 results: EPS: US$1.15 (up from US$0.79 in 3Q 2023). Revenue: US$2.93b (up 17% from 3Q 2023). Net income: US$896.7m (up 45% from 3Q 2023). Profit margin: 31% (up from 25% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 1.5% growth forecast for the Metals and Mining industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 22% per year, which means it is well ahead of earnings. Announcement • Oct 22
Southern Copper Corporation Announces Quarterly Cash Dividend of Common Stock, Payable on November 21, 2024 On October 17, 2024, the Board of Directors of Southern Copper Corporation authorized a quarterly cash dividend of $0.70 per share of common stock, payable on November 21, 2024, to shareholders of record at the close of business on November 6, 2024. Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to US$120, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 6x in the Metals and Mining industry in the United Kingdom. Total returns to shareholders of 149% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$90.89 per share. Buy Or Sell Opportunity • Sep 25
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 5.7% to US$114. The fair value is estimated to be US$91.28, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 7.7%. For the next 3 years, revenue is forecast to grow by 5.3% per annum. Earnings are also forecast to grow by 7.8% per annum over the same time period. Declared Dividend • Jul 29
Dividend of US$0.60 announced Shareholders will receive a dividend of US$0.60. Ex-date: 9th August 2024 Payment date: 26th August 2024 Dividend yield will be 2.3%, which is lower than the industry average of 7.3%. Sustainability & Growth Dividend is not covered by earnings (112% earnings payout ratio) nor is it covered by cash flows (150% cash payout ratio). The dividend has increased by an average of 19% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 25% to bring the payout ratio under control. EPS is expected to grow by 22% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Reported Earnings • Jul 22
Second quarter 2024 earnings released: EPS: US$1.22 (vs US$0.70 in 2Q 2023) Second quarter 2024 results: EPS: US$1.22 (up from US$0.70 in 2Q 2023). Revenue: US$3.12b (up 36% from 2Q 2023). Net income: US$950.2m (up 74% from 2Q 2023). Profit margin: 31% (up from 24% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 1.8% growth forecast for the Metals and Mining industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 18% per year, which means it is well ahead of earnings. Announcement • Apr 27
Southern Copper Corporation Approves Quarterly Dividend, Payable on May 23, 2024 On April 18, 2024, Southern Copper Corporation approved a quarterly stock dividend of 0.0104 shares of common stock per share of common stock payable on May 23, 2024 for shareholders of record at the close of business on May 8, 2024. Reported Earnings • Apr 26
First quarter 2024 earnings released: EPS: US$0.95 (vs US$1.05 in 1Q 2023) First quarter 2024 results: EPS: US$0.95 (down from US$1.05 in 1Q 2023). Revenue: US$2.60b (down 6.9% from 1Q 2023). Net income: US$736.0m (down 9.5% from 1Q 2023). Profit margin: 28% (in line with 1Q 2023). Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 1.3% growth forecast for the Metals and Mining industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 18% per year, which means it is well ahead of earnings. Announcement • Apr 13
Southern Copper Corporation, Annual General Meeting, May 24, 2024 Southern Copper Corporation, Annual General Meeting, May 24, 2024, at 09:00 Central Standard Time. Agenda: To elect ten directors; to ratify the selection by the Audit Committee of the Board of Directors of Galaz, Yamazaki, Ruiz Urquiza S.C., a member firm of Deloitte Touche Tohmatsu Limited, as independent accountants for calendar year 2024; to cast a non-binding advisory vote on executive compensation; to provide stockholders the opportunity to cast a non-binding advisory vote on the frequency of future stockholders' advisory votes on executive compensation; and to transact such other business as may properly come before the meeting. Valuation Update With 7 Day Price Move • Mar 13
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to US$94.38, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 8x in the Metals and Mining industry in the United Kingdom. Total returns to shareholders of 53% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$109 per share. Reported Earnings • Mar 02
Full year 2023 earnings released: EPS: US$3.14 (vs US$3.41 in FY 2022) Full year 2023 results: EPS: US$3.14 (down from US$3.41 in FY 2022). Revenue: US$9.90b (down 1.5% from FY 2022). Net income: US$2.43b (down 8.1% from FY 2022). Profit margin: 25% (down from 26% in FY 2022). Revenue is forecast to grow 7.9% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in the United Kingdom are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 4% per year and the company’s share price has also increased by 4% per year. Upcoming Dividend • Feb 05
Upcoming dividend of US$0.80 per share at 4.9% yield Eligible shareholders must have bought the stock before 12 February 2024. Payment date: 29 February 2024. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 4.9%. Lower than top quartile of British dividend payers (6.0%). Lower than average of industry peers (7.3%). Reported Earnings • Feb 04
Full year 2023 earnings released: EPS: US$3.14 (vs US$3.41 in FY 2022) Full year 2023 results: EPS: US$3.14 (down from US$3.41 in FY 2022). Revenue: US$9.90b (down 1.5% from FY 2022). Net income: US$2.43b (down 8.1% from FY 2022). Profit margin: 25% (down from 26% in FY 2022). Revenue is forecast to grow 7.9% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in the United Kingdom are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 5% per year. Announcement • Feb 03
Southern Copper Corporation Announces Dividend, Payable on February 29, 2024 Southern Copper Corporation announced dividend of $.80 per share payable on February 29, 2024, to shareholders of record at the close of business on February 13, 2024, 2024. Declared Dividend • Jan 28
Third quarter dividend of US$0.80 announced Shareholders will receive a dividend of US$0.80. Ex-date: 12th February 2024 Payment date: 29th February 2024 Dividend yield will be 4.6%, which is lower than the industry average of 7.2%. Sustainability & Growth Dividend is not adequately covered by earnings (94% earnings payout ratio) nor is it covered by cash flows (101% cash payout ratio). The dividend has increased by an average of 19% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 4.3% to bring the payout ratio under control. EPS is expected to grow by 14% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Buying Opportunity • Jan 17
Now 20% undervalued Over the last 90 days, the stock is up 13%. The fair value is estimated to be US$102, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.2% over the last 3 years. Earnings per share has grown by 13%. For the next 3 years, revenue is forecast to grow by 6.1% per annum. Earnings is also forecast to grow by 7.3% per annum over the same time period. Upcoming Dividend • Oct 31
Upcoming dividend of US$1.00 per share at 4.9% yield Eligible shareholders must have bought the stock before 07 November 2023. Payment date: 22 November 2023. Payout ratio and cash payout ratio are on the higher end at 94% and 88% respectively. Trailing yield: 4.9%. Lower than top quartile of British dividend payers (6.7%). Lower than average of industry peers (7.8%). Announcement • Oct 26
Southern Copper Corporation Authorizes Dividend, Payable on November 22, 2023 Southern Copper Corporation announced on October 24, 2023, the Board of Directors authorized a dividend of $1.00 per share payable on November 22, 2023, to shareholders of record at the close of business on November 8, 2023. Reported Earnings • Oct 26
Third quarter 2023 earnings released: EPS: US$0.80 (vs US$0.67 in 3Q 2022) Third quarter 2023 results: EPS: US$0.80 (up from US$0.67 in 3Q 2022). Revenue: US$2.51b (up 16% from 3Q 2022). Net income: US$619.5m (up 19% from 3Q 2022). Profit margin: 25% (in line with 3Q 2022). Revenue is forecast to grow 8.2% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in the United Kingdom are expected to remain flat. Upcoming Dividend • Aug 01
Upcoming dividend of US$1.00 per share at 4.0% yield Eligible shareholders must have bought the stock before 08 August 2023. Payment date: 23 August 2023. Payout ratio and cash payout ratio are on the higher end at 90% and 95% respectively. Trailing yield: 4.0%. Lower than top quartile of British dividend payers (6.1%). Lower than average of industry peers (7.5%). New Risk • Jul 31
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.05% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 90% Cash payout ratio: 102% Earnings are forecast to decline by an average of 0.05% per year for the foreseeable future. Minor Risk High level of debt (51% net debt to equity). Reported Earnings • Jul 30
Second quarter 2023 earnings released: EPS: US$0.71 (vs US$0.56 in 2Q 2022) Second quarter 2023 results: EPS: US$0.71 (up from US$0.56 in 2Q 2022). Revenue: US$2.30b (flat on 2Q 2022). Net income: US$547.5m (up 27% from 2Q 2022). Profit margin: 24% (up from 19% in 2Q 2022). Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in the United Kingdom are expected to remain flat. Recent Insider Transactions • May 10
Special Independent Director recently sold US$79k worth of stock On the 8th of May, Luis Miguel Palomino Bonilla sold around 1k shares on-market at roughly US$78.74 per share. This transaction amounted to 14% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$114k. Insiders have been net sellers, collectively disposing of US$193k more than they bought in the last 12 months. Upcoming Dividend • May 01
Upcoming dividend of US$1.00 per share at 4.6% yield Eligible shareholders must have bought the stock before 08 May 2023. Payment date: 23 May 2023. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 4.6%. Lower than top quartile of British dividend payers (5.8%). Lower than average of industry peers (7.7%). Reported Earnings • Apr 29
First quarter 2023 earnings released: EPS: US$1.05 (vs US$1.02 in 1Q 2022) First quarter 2023 results: EPS: US$1.05 (up from US$1.02 in 1Q 2022). Revenue: US$2.79b (up 1.1% from 1Q 2022). Net income: US$813.2m (up 3.6% from 1Q 2022). Profit margin: 29% (in line with 1Q 2022). Revenue is forecast to grow 5.8% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in the United Kingdom are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has increased by 36% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Feb 06
Upcoming dividend of US$1.00 per share at 4.6% yield Eligible shareholders must have bought the stock before 13 February 2023. Payment date: 01 March 2023. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 4.6%. Lower than top quartile of British dividend payers (5.4%). Lower than average of industry peers (7.5%). Reported Earnings • Feb 05
Full year 2022 earnings released: EPS: US$3.41 (vs US$4.39 in FY 2021) Full year 2022 results: EPS: US$3.41 (down from US$4.39 in FY 2021). Revenue: US$10.0b (down 8.1% from FY 2021). Net income: US$2.64b (down 22% from FY 2021). Profit margin: 26% (down from 31% in FY 2021). The decrease in margin was driven by lower revenue. Production and reserves: Copper Production: 0.924 Mt (0.958 Mt in FY 2021) Proved and probable reserves (ore): 1,547 Mt (13,126 Mt in FY 2021) Molybdenum Production: 26,240 t (30,230 t in FY 2021) Silver Production: 18,562 troy koz (22,947 troy koz in FY 2021) Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 1.0% decline forecast for the Metals and Mining industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 30% per year whereas the company’s share price has increased by 25% per year. Announcement • Feb 04
Southern Copper Corporation Announces Dividend, Payable on March 1, 2023 Southern Copper Corporation Board of Directors authorized a dividend of $1.00 per share payable on March 1, 2023, to shareholders of record at the close of business on February 14, 2023. Valuation Update With 7 Day Price Move • Jan 10
Investor sentiment improved over the past week After last week's 15% share price gain to US$70.85, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 7x in the Metals and Mining industry in the United Kingdom. Total returns to shareholders of 99% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$54.90 per share. Board Change • Nov 16
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 1 experienced director. 7 highly experienced directors. Director Leonardo Contreras Lerdo de Tejada was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Nov 10
Investor sentiment improved over the past week After last week's 16% share price gain to US$55.56, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 6x in the Metals and Mining industry in the United Kingdom. Total returns to shareholders of 97% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$84.59 per share. Upcoming Dividend • Nov 01
Upcoming dividend of US$0.50 per share Eligible shareholders must have bought the stock before 08 November 2022. Payment date: 23 November 2022. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 7.5%. Within top quartile of British dividend payers (6.1%). Lower than average of industry peers (9.8%). Reported Earnings • Oct 30
Third quarter 2022 earnings released: EPS: US$0.67 (vs US$1.12 in 3Q 2021) Third quarter 2022 results: EPS: US$0.67 (down from US$1.12 in 3Q 2021). Revenue: US$2.16b (down 20% from 3Q 2021). Net income: US$519.0m (down 40% from 3Q 2021). Profit margin: 24% (down from 32% in 3Q 2021). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 2.6% decline forecast for the Metals and Mining industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Aug 03
Upcoming dividend of US$0.75 per share Eligible shareholders must have bought the stock before 10 August 2022. Payment date: 25 August 2022. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 6.4%. Within top quartile of British dividend payers (5.2%). Lower than average of industry peers (8.6%). Reported Earnings • Jul 28
Second quarter 2022 earnings released: EPS: US$0.56 (vs US$1.21 in 2Q 2021) Second quarter 2022 results: EPS: US$0.56 (down from US$1.21 in 2Q 2021). Revenue: US$2.31b (down 20% from 2Q 2021). Net income: US$432.3m (down 54% from 2Q 2021). Profit margin: 19% (down from 32% in 2Q 2021). The decrease in margin was driven by lower revenue. Over the next year, revenue is forecast to stay flat compared to a 13% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Jun 14
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 18%. The fair value is estimated to be US$72.77, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 37%. For the next 3 years, revenue is forecast to decline by 1.2% per annum. Earnings is also forecast to decline by 8.9% per annum over the same time period. Board Change • Jun 02
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 1 experienced director. 7 highly experienced directors. Director Leonardo Contreras Lerdo de Tejada was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Mar 03
Investor sentiment improved over the past week After last week's 16% share price gain to US$75.15, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 6x in the Metals and Mining industry in the United Kingdom. Total returns to shareholders of 181% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$45.06 per share. Upcoming Dividend • Feb 07
Upcoming dividend of US$1.00 per share Eligible shareholders must have bought the stock before 14 February 2022. Payment date: 02 March 2022. Payout ratio is a comfortable 73% and this is well supported by cash flows. Trailing yield: 6.3%. Within top quartile of British dividend payers (4.3%). Lower than average of industry peers (9.0%). Reported Earnings • Feb 04
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: US$4.39 (up from US$2.03 in FY 2020). Revenue: US$10.9b (up 37% from FY 2020). Net income: US$3.40b (up 116% from FY 2020). Profit margin: 31% (up from 20% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 4.2%, compared to a 8.7% growth forecast for the mining industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Nov 02
Upcoming dividend of US$1.00 per share Eligible shareholders must have bought the stock before 09 November 2021. Payment date: 23 November 2021. Trailing yield: 6.6%. Within top quartile of British dividend payers (4.1%). Lower than average of industry peers (8.6%). Reported Earnings • Oct 29
Third quarter 2021 earnings released: EPS US$1.12 (vs US$0.66 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: US$2.68b (up 26% from 3Q 2020). Net income: US$867.6m (up 72% from 3Q 2020). Profit margin: 32% (up from 24% in 3Q 2020). The increase in margin was driven by higher revenue. Upcoming Dividend • Aug 04
Upcoming dividend of US$0.90 per share Eligible shareholders must have bought the stock before 11 August 2021. Payment date: 26 August 2021. Trailing yield: 4.3%. Within top quartile of British dividend payers (3.9%). Lower than average of industry peers (7.0%). Executive Departure • Jul 29
Independent Director Rafael Mac Gregor Anciola has left the company On the 21st of July, Rafael Mac Gregor Anciola's tenure as Independent Director ended after 4.0 years in the role. We don't have any record of a personal shareholding under Rafael's name. A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 8.13 years. Reported Earnings • Jul 28
Second quarter 2021 earnings released: EPS US$1.21 (vs US$0.34 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: US$2.90b (up 62% from 2Q 2020). Net income: US$932.7m (up 259% from 2Q 2020). Profit margin: 32% (up from 14% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Executive Departure • Jun 09
Director Alfredo de Jesus Casar Perez has left the company On the 28th of May, Alfredo de Jesus Casar Perez's tenure as Director ended after 14.6 years in the role. We don't have any record of a personal shareholding under Alfredo's name. Alfredo is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 8.04 years. Executive Departure • Jun 04
Director Alfredo de Jesus Casar Perez has left the company On the 29th of May, Alfredo de Jesus Casar Perez's tenure as Director ended after 14.6 years in the role. We don't have any record of a personal shareholding under Alfredo's name. Alfredo is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 8.04 years. Recent Insider Transactions • Jun 03
Independent Director recently sold US$72k worth of stock On the 1st of June, Vicente Ariztegui Andreve sold around 1k shares on-market at roughly US$72.23 per share. In the last 3 months, there was an even bigger sale from another insider worth US$7.2m. Insiders have been net sellers, collectively disposing of US$166m more than they bought in the last 12 months. Recent Insider Transactions • May 22
Independent Director recently sold US$88k worth of stock On the 13th of May, Vicente Ariztegui Andreve sold around 1k shares on-market at roughly US$80.13 per share. In the last 3 months, there was an even bigger sale from another insider worth US$32m. Insiders have been net sellers, collectively disposing of US$166m more than they bought in the last 12 months. Valuation Update With 7 Day Price Move • May 11
Investor sentiment improved over the past week After last week's 18% share price gain to US$82.14, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 8x in the Metals and Mining industry in the United Kingdom. Total returns to shareholders of 82% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$64.67 per share. Upcoming Dividend • May 03
Upcoming dividend of US$0.70 per share Eligible shareholders must have bought the stock before 10 May 2021. Payment date: 25 May 2021. Trailing yield: 4.0%. Within top quartile of British dividend payers (4.0%). Lower than average of industry peers (4.6%). Reported Earnings • Apr 30
First quarter 2021 earnings released: EPS US$0.99 (vs US$0.28 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: US$2.53b (up 47% from 1Q 2020). Net income: US$763.8m (up 256% from 1Q 2020). Profit margin: 30% (up from 13% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 16% per year whereas the company’s share price has increased by 11% per year. 
