Southern Copper (NYSE:SCCO) - Share price, News & Analysis

Q: What is the Fair Price of SCCO when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

SCCO ($48.63) is trading below our estimate of [[fair value]] ($76.01)

SCCO fundamental analysis
Snowflake Score
Valuation	4/6
Future Growth	2/6
Past Performance	3/6
Financial Health	4/6
Dividends	4/6

SCCO Stock Overview

Southern Copper Corporation engages in mining, exploring, smelting, and refining copper and other minerals in Peru, Mexico, Argentina, Ecuador, and Chile.

Rewards

Trading at 36% below our estimate of its fair value

Earnings are forecast to grow 3.64% per year

Earnings have grown 27.7% per year over the past 5 years

Trading at good value vs. industry average Price-To-Earnings ratio

Trading below our calculated fair Price-To-Earnings ratio

Risk Analysis

Has a high level of debt

Dividend of 6.17% is not well covered

Southern Copper Competitors

Freeport-McMoRan

NYSE:FCX

US$43.6b

Newmont

NYSE:NEM

US$34.8b

Nucor

NYSE:NUE

US$30.9b

Agnico Eagle Mines

NYSE:AEM

US$20.2b

Price History & Performance

Summary of all time highs, changes and price drops for Southern Copper
Historical stock prices
Current Share Price	US$48.63
52 Week High	US$79.32
52 Week Low	US$42.42
Beta	1.14
1 Month Change	6.44%
3 Month Change	-5.09%
1 Year Change	-13.47%
3 Year Change	49.95%
5 Year Change	16.54%
Change since IPO	1,709.49%

Recent News & Updates

Sep 12

Southern Copper: A Weak Copper Outlook Is Not Helping

Summary Southern Copper's earnings per diluted share were $0.56 per share, and revenues were $2.307 billion. A weak production quarter due to the 53-day disruption in the Cuajone mine in Peru. Copper Production for 2Q22 was 459.5 Cu M lbs and 520.5 Cu M lbs, including third party (sold 430.8 M lbs), down 12.1% from the same quarter a year ago. I recommend buying SCCO at or below $44.5 with potential lower support at $43.6. Introduction The Phoenix-based Southern Copper Corporation (NYSE:SCCO) is a majority-owned, indirect subsidiary of Grupo Mexico SAB de CV (OTCPK:GMBXF). As of June 30, 2022, Grupo Mexico, through its wholly-owned subsidiary Americas Mining Corp ("AMC"), owns 88.91% of its capital stock. SCCO Diagram Presentation (SCCO Presentation) The company is an integrated producer of copper, representing about 80% of the revenue, and other metals (mainly molybdenum, silver, and zinc). Note: This article is an update of my article published on July 24, 2022. I have followed SCCO on Seeking Alpha since January 2021. The company operates mining, smelting, and refining facilities in Peru and Mexico (See picture below). Southern Copper also conducts exploration activities in Argentina, Chile, and Ecuador. From the most recent company's presentation. SCCO Presentation (Southern Copper) 1 - Summary On July 26, 2022, SCCO reported second-quarter 2022 earnings of $0.56 per share on a net sale of $2,306.9 million, missing analysts' expectations. Revenues were down 20.4% from the prior-year quarter. The quarterly results were affected by a 25,624-tonne decrease in copper production at the company's Peruvian operations (stoppage at Cuajone and lower ore grades) and a decline in ore grades at both Toquepala and La Caridad operations. The copper production losses were temporarily offset with purchases from third parties, albeit at a higher cost, to avoid a force majeure event. Molybdenum production fell 9.7% compared to 2Q21; silver dropped 4.4%, and Copper 12.1%. Cash flow from operating activities in 2Q22 was $309.9 million, representing a decrease of 70.8% over the $1,061.5 million posted in 2Q21. An essential element to consider: Southern Copper owns the world's largest copper reserves at 42.4 MMT. SCCO Copper reserves (Southern Copper) 2 - Stock performance Southern Copper is the second copper company I am covering at Seeking Alpha after Freeport-McMoRan (FCX). Both companies have dropped significantly since April due to a significant drop in the copper price and lingering fear of recession due to the Fed's action. Data by YCharts SCCO has underperformed Freeport-McMoRan and the Global X Copper Miners ETF (COPX), with a loss of 20% in one year. 3 - Investment Thesis My two reliable stocks in the copper sector are Freeport-McMoRan and Southern Copper. I consider these two companies very solid in terms of balance sheets which pay generous dividends despite a weakening copper price. The outlook for copper is uncertain at the moment, and the copper price has dropped significantly in the past few months with no real catalyst in the near term. 1-Year copper price chart (Kitco.com) Decades-high inflation has pushed the Fed to turn very hawkish, ultimately pushing the world economy into recession. The Fed is expected to hike interest by 75-point for the third time on September 22. The Chairman of the Board, German Larrea, said in the press release: We believe the economic slowdowns in the U.S., China and Europe have temporarily weakened the demand for copper and are driving reductions in current prices. It is important to emphasize that copper plays a leading role in the global shift to clean energy, which correlates positively with our assertion that the underlying demand for copper will be strong in the long-term. One major issue for Southern Copper is its presence in Peru and principally the 54-day disruption it experienced with the Cuajone mines, which were partially resolved on May 3, 2022. Also, the ore grades decreased sharply at both Toquepala and La Caridad mines. The company expects the disruption at Cuajone to drag down annual copper production to 922,000 tons. Output is set to recover to 971,000 tons next year, Southern Copper Chief Financial Officer Raul Jacob said Tuesday on a call with analysts. Finally, I noticed increasing inflationary pressures that could reduce the future free cash flow. Thus, I believe long-term investors should continue accumulating this highly cyclical stock on any significant weakness. But, due to extreme volatility in the copper demand, I recommend short-term trading LIFO. About 30% to 40% should be allocated for this task to minimize the risks of a sudden severe retracement. Southern Copper - 2Q22 - Balance Sheet and Trend - The Raw Numbers Southern Copper 2Q21 3Q21 4Q21 1Q22 2Q22 Total Revenues in $ Million 2,897.0 2,680.9 2,823.7 2,763.8 2,306.9 Net income in $ Million 932.7 867.6 832.9 784.7 432.3 EBITDA $ Million 1,863.7 1,710.8 1,728.5 1,683.0 1,025.7 EPS diluted in $/share 1.21 1.12 1.08 1.02 0.56 Cash from Operations in $ Million 1,061.5 1,220.6 1,227.7 820.7 309.9 Capital Expenditure in $ Million 219.8 243.1 196.8 205.2 224.6 Free Cash Flow in $ Million 841.7 977.5 1,030.9 615.5 85.3 Total cash $ Million 2,940.1 3,210.5 3,488.9 3,253.7 2,355.7 Total Long term Debt in $ Million 6.545.9 6,546.7 6,547.6 6,548.5 6.549.4 Dividend $/sh 0.90 1.00 1.00 1.25 0.75 Shares outstanding (diluted) in Million 773.1 773.1 773.1 773.1 773.1 Source: Southern Copper release Note: More data (production) is available for subscribers. Analysis: Revenues, Free Cash Flow, and Copper/Silver/Molybdenum Production 1 - Revenues were $2,306.9 million for the second quarter of 2022 SCCO Quarterly Revenues history (Fun Trading) Southern Copper's earnings per diluted share were $0.56 per share, and revenues were $2.307 billion. 2Q22 net income was $432.3 million, representing a 53.7% decrease compared to the $932.7 million in 2Q21. The adjusted EBITDA dropped 45.2% year over year to $1,021.4 million in the second quarter of 2022. The adjusted EBITDA margin in 2Q22 stood at 44.3% versus 64.3% in 2Q21 2 - Free cash flow was $85.3 million in the second quarter of 2022 SCCO Quarterly Free cash flow history (Fun Trading) Note: I calculate the generic free cash flow using the cash from operating activities minus CapEx. Trailing 12-month free cash flow was $2,709.2 million, with $85.3 million in 2Q22. The company declared a quarterly dividend of $0.75 per share in 2Q22, or a yield of 6.10%, supported by the free cash flow generation. 3 - Net debt was $4.19 billion on June 30, 2022 SCCO Quarterly Cash versus Debt history (Fun Trading) On June 30, 2022, SCCO had $2.36 billion in consolidated cash and long-term debt of $6.55 billion. The net debt to EBITDA is now 0.7x, which is good. 4 - Production analysis - Copper-Cu, Silver-Ag, and Molybdenum-Mo. Note: The weight in metric tons is equal to 2,205 pounds Price 2Q21 3Q21 4Q21 1Q22 2Q22 Copper price realized - Cu (Comex) $/Lbs 4.40 4.25 4.40 4.53 4.32 Silver price Realized - Ag $/oz 26.78 24.28 23.36 24.05 22.65 Molybdenum price realized - Mo $/Lbs 13.89 18.43 18.53 18.99 18.30 Zinc price $/Lbs 1.32 1.36 1.53 1.70 1.78 Gold $/oz 1,816 1,789 1,795 1,874 1,872

Aug 19

Is Southern Copper Corporation (NYSE:SCCO) Trading At A 39% Discount?

In this article we are going to estimate the intrinsic value of Southern Copper Corporation ( NYSE:SCCO ) by taking the...

Aug 09

Southern Copper goes ex dividend tomorrow

Southern Copper (NYSE:SCCO) has declared $0.75/share quarterly dividend, -40% decrease from prior dividend of $1.25. Payable Aug. 25; for shareholders of record Aug. 11; ex-div Aug. 10. See SCCO Dividend Scorecard, Yield Chart, & Dividend Growth.

Shareholder Returns

	SCCO	US Metals and Mining	US Market
7D	8.8%	12.6%	4.4%
1Y	-13.5%	-6.2%	-18.2%

Return vs Industry: SCCO underperformed the US Metals and Mining industry which returned -6.2% over the past year.

Return vs Market: SCCO exceeded the US Market which returned -18.2% over the past year.

Price Volatility

Is SCCO's price volatile compared to industry and market?
SCCO volatility
SCCO Average Weekly Movement	5.6%
Metals and Mining Industry Average Movement	8.9%
Market Average Movement	6.9%
10% most volatile stocks in US Market	15.5%
10% least volatile stocks in US Market	2.8%

Stable Share Price: SCCO is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: SCCO's weekly volatility (6%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1952	14,700	Oscar Gonzalez Rocha	https://www.southernperu.com

Southern Copper Corporation engages in mining, exploring, smelting, and refining copper and other minerals in Peru, Mexico, Argentina, Ecuador, and Chile. The company is involved in the mining, milling, and flotation of copper ore to produce copper and molybdenum concentrates; smelting of copper concentrates to produce blister and anode copper; refining of anode copper to produce copper cathodes; production of molybdenum concentrate and sulfuric acid; production of refined silver, gold, and other materials; and mining and processing of zinc and lead. It operates the Toquepala and Cuajone open-pit mines, and a smelter and refinery in Peru; and La Caridad, an open-pit copper mine, as well as a copper ore concentrator, a SX-EW plant, a smelter, refinery, and a rod plant in Mexico.

Southern Copper Fundamentals Summary

How do Southern Copper's earnings and revenue compare to its market cap?
SCCO fundamental statistics
Market Cap	US$37.60b
Earnings (TTM)	US$2.92b
Revenue (TTM)	US$10.58b

12.9x

P/E Ratio

3.6x

P/S Ratio

Is SCCO overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
SCCO income statement (TTM)
Revenue	US$10.58b
Cost of Revenue	US$4.16b
Gross Profit	US$6.41b
Other Expenses	US$3.50b
Earnings	US$2.92b

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	3.77
Gross Margin	60.65%
Net Profit Margin	27.59%
Debt/Equity Ratio	85.2%

How did SCCO perform over the long term?

See historical performance and comparison

Dividends

6.2%

Current Dividend Yield

110%

Payout Ratio

We’ve recently updated our valuation analysis.

Valuation

Is SCCO undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for SCCO?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for SCCO. This is calculated by dividing SCCO's market cap by their current preferred multiple.
What is SCCO's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	US$37.60b

SCCO key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	4x
Enterprise Value/EBITDA	7x
PEG Ratio	3.5x

Price to Earnings Ratio vs Peers

How does SCCO's PE Ratio compare to its peers?

SCCO PE Ratio vs Peers

The above table shows the PE ratio for SCCO vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PE	Estimated Growth	Market Cap
Peer Average	23.4x
FCX Freeport-McMoRan	9x	-6.8%	US$43.6b
NEM Newmont	47x	11.5%	US$34.8b
NUE Nucor	3.4x	-43.2%	US$30.9b
AEM Agnico Eagle Mines	34.4x	13.2%	US$20.2b
SCCO Southern Copper	12.9x	3.6%	US$37.6b

Price-To-Earnings vs Peers: SCCO is good value based on its Price-To-Earnings Ratio (12.9x) compared to the peer average (23.4x).

Price to Earnings Ratio vs Industry

How does SCCO's PE Ratio compare vs other companies in the US Metals and Mining Industry?

Price-To-Earnings vs Industry: SCCO is expensive based on its Price-To-Earnings Ratio (12.9x) compared to the US Metals and Mining industry average (6.8x)

Price to Earnings Ratio vs Fair Ratio

What is SCCO's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

SCCO PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	12.9x
Fair PE Ratio	18.2x

Price-To-Earnings vs Fair Ratio: SCCO is good value based on its Price-To-Earnings Ratio (12.9x) compared to the estimated Fair Price-To-Earnings Ratio (18.2x).

Share Price vs Fair Value

What is the Fair Price of SCCO when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: SCCO ($48.63) is trading below our estimate of fair value ($76.01)

Significantly Below Fair Value: SCCO is trading below fair value by more than 20%.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Future Growth

How is Southern Copper forecast to perform in the next 1 to 3 years based on estimates from 16 analysts?

Future Growth Score

2/6

Future Growth Score 2/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

3.6%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: SCCO's forecast earnings growth (3.6% per year) is above the savings rate (1.9%).

Earnings vs Market: SCCO's earnings (3.6% per year) are forecast to grow slower than the US market (14.8% per year).

High Growth Earnings: SCCO's earnings are forecast to grow, but not significantly.

Revenue vs Market: SCCO's revenue (3.4% per year) is forecast to grow slower than the US market (7.6% per year).

High Growth Revenue: SCCO's revenue (3.4% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: SCCO's Return on Equity is forecast to be high in 3 years time (32.5%)

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Past Performance

How has Southern Copper performed over the past 5 years?

Past Performance Score

3/6

Past Performance Score 3/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

27.7%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: SCCO has high quality earnings.

Growing Profit Margin: SCCO's current net profit margins (27.6%) are lower than last year (28.2%).

Past Earnings Growth Analysis

Earnings Trend: SCCO's earnings have grown significantly by 27.7% per year over the past 5 years.

Accelerating Growth: SCCO's earnings growth over the past year (4.5%) is below its 5-year average (27.7% per year).

Earnings vs Industry: SCCO earnings growth over the past year (4.5%) underperformed the Metals and Mining industry 82.4%.

Return on Equity

High ROE: SCCO's Return on Equity (38.1%) is considered high.

Discover strong past performing companies

Financial Health

How is Southern Copper's financial position?

Financial Health Score

4/6

Financial Health Score 4/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: SCCO's short term assets ($5.0B) exceed its short term liabilities ($1.5B).

Long Term Liabilities: SCCO's short term assets ($5.0B) do not cover its long term liabilities ($7.9B).

Debt to Equity History and Analysis

Debt Level: SCCO's net debt to equity ratio (54.6%) is considered high.

Reducing Debt: SCCO's debt to equity ratio has reduced from 94% to 85.2% over the past 5 years.

Debt Coverage: SCCO's debt is well covered by operating cash flow (54.6%).

Interest Coverage: SCCO's interest payments on its debt are well covered by EBIT (15.7x coverage).

Balance Sheet

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Dividend

What is Southern Copper current dividend yield, its reliability and sustainability?

Dividend Score

4/6

Dividend Score 4/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Cash Flow Coverage

6.17%

Current Dividend Yield

Dividend Yield vs Market

Southern Copper Dividend Yield vs Market

How does Southern Copper dividend yield compare to the market?
Segment	Dividend Yield
Company (Southern Copper)	6.2%
Market Bottom 25% (US)	1.6%
Market Top 25% (US)	4.5%
Industry Average (Metals and Mining)	3.3%
Analyst forecast in 3 Years (Southern Copper)	6.4%

Notable Dividend: SCCO's dividend (6.17%) is higher than the bottom 25% of dividend payers in the US market (1.6%).

High Dividend: SCCO's dividend (6.17%) is in the top 25% of dividend payers in the US market (4.53%)

Stability and Growth of Payments

Stable Dividend: SCCO's dividend payments have been volatile in the past 10 years.

Growing Dividend: SCCO's dividend payments have increased over the past 10 years.

Earnings Payout to Shareholders

Earnings Coverage: With its high payout ratio (110%), SCCO's dividend payments are not well covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: At its current cash payout ratio (85.6%), SCCO's dividend payments are covered by cash flows.

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Management

How experienced are the management team and are they aligned to shareholders interests?

9.4yrs

Average management tenure

CEO

Oscar Gonzalez Rocha (84 yo)

22.92yrs

Tenure

US$1,462,085

Compensation

Mr. Oscar Gonzalez Rocha serves as an Executive President of Americas Mining Corporation - Mining Division at Grupo México S.A.B. de C.V. He has been the Chief Executive Officer and President of Southern C...

CEO Compensation Analysis

Oscar Gonzalez Rocha's Compensation vs Southern Copper Earnings

How has Oscar Gonzalez Rocha's remuneration changed compared to Southern Copper's earnings?
Date	Total Comp.	Salary	Company Earnings
Jun 30 2022	n/a	n/a	US$3b
Mar 31 2022	n/a	n/a	US$3b
Dec 31 2021	US$1m	US$421k	US$3b
Sep 30 2021	n/a	n/a	US$3b
Jun 30 2021	n/a	n/a	US$3b
Mar 31 2021	n/a	n/a	US$2b
Dec 31 2020	US$1m	US$468k	US$2b
Sep 30 2020	n/a	n/a	US$1b
Jun 30 2020	n/a	n/a	US$1b
Mar 31 2020	n/a	n/a	US$1b
Dec 31 2019	US$2m	US$490k	US$1b
Sep 30 2019	n/a	n/a	US$1b
Jun 30 2019	n/a	n/a	US$1b
Mar 31 2019	n/a	n/a	US$1b
Dec 31 2018	US$2m	US$490k	US$2b
Sep 30 2018	n/a	n/a	US$962m
Jun 30 2018	n/a	n/a	US$995m
Mar 31 2018	n/a	n/a	US$885m
Dec 31 2017	US$1m	US$487k	US$729m
Sep 30 2017	n/a	n/a	US$1b
Jun 30 2017	n/a	n/a	US$984m
Mar 31 2017	n/a	n/a	US$906m
Dec 31 2016	US$1m	US$472k	US$777m
Sep 30 2016	n/a	n/a	US$665m
Jun 30 2016	n/a	n/a	US$566m
Mar 31 2016	n/a	n/a	US$639m
Dec 31 2015	US$2m	US$499k	US$736m

Compensation vs Market: Oscar's total compensation ($USD1.46M) is below average for companies of similar size in the US market ($USD13.00M).

Compensation vs Earnings: Oscar's compensation has been consistent with company performance over the past year.

Leadership Team

Experienced Management: SCCO's management team is seasoned and experienced (9.4 years average tenure).

Board Members

Experienced Board: SCCO's board of directors are seasoned and experienced ( 18.7 years average tenure).

Ownership

Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Recent Insider Transactions

NYSE:SCCO Recent Insider Transactions by Companies or Individuals
Date	Value	Name	Entity	Shares	Max Price
11 Mar 22	SellUS$14,987,600	German Larrea Mota-Velasco	Individual	200,000	US$74.94
10 Mar 22	SellUS$7,497,300	German Larrea Mota-Velasco	Individual	100,000	US$74.97
09 Mar 22	SellUS$3,743,350	German Larrea Mota-Velasco	Individual	50,000	US$74.87

Ownership Breakdown

What is the ownership structure of SCCO?
Owner Type	Number of Shares	Ownership Percentage
State or Government	47,688	0.006%
Individual Insiders	599,672	0.08%
General Public	29,154,334	3.8%
Institutions	56,014,778	7.2%
Public Companies	687,275,997	88.9%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Top 25 shareholders own 93.62% of the company

Ownership	Name	Shares	Current Value	Change %	Portfolio %
88.9%	Grupo México, S.A.B. de C.V.	687,275,997	$33.4b	0%	no data
0.92%	BlackRock, Inc.	7,090,319	$344.8m	0.97%	0.01%
0.54%	T. Rowe Price Group, Inc.	4,179,899	$203.3m	200.6%	0.02%
0.46%	Fisher Asset Management, LLC	3,580,847	$174.1m	-5.57%	0.13%
0.35%	Fidelity International Ltd	2,719,186	$132.2m	-1.98%	0.07%
0.31%	State Street Global Advisors, Inc.	2,397,544	$116.6m	-8.83%	0.01%
0.2%	Marathon Asset Management Limited	1,569,364	$76.3m	-6.13%	0.45%
0.17%	Mirae Asset Global Investments Co., Ltd	1,315,766	$64.0m	1.43%	0.1%
0.16%	Personal Capital Advisors Corporation	1,229,601	$59.8m	3.2%	0.32%
0.15%	Goldman Sachs Asset Management, L.P.	1,158,116	$56.3m	-46.84%	0.02%
0.13%	First Trust Advisors LP	1,000,882	$48.7m	46.84%	0.05%
0.13%	UBS Asset Management	973,755	$47.4m	-6.16%	0.01%
0.11%	The Vanguard Group, Inc.	859,885	$41.8m	5%	no data
0.11%	1832 Asset Management L.P.	834,386	$40.6m	5.38%	0.06%
0.11%	RWC Partners Limited	827,304	$40.2m	1.92%	0.39%
0.11%	Legal & General Investment Management Limited	823,662	$40.1m	15.23%	0.01%
0.1%	Allspring Global Investments, LLC	787,301	$38.3m	349%	0.06%
0.096%	Acadian Asset Management LLC	745,881	$36.3m	-57.07%	0.14%
0.094%	Eaton Vance Management	729,200	$35.5m	15.49%	0.01%
0.093%	The Bollard Group, LLC	718,950	$35.0m	2.75%	1.37%
0.087%	Columbia Management Investment Advisers, LLC	673,638	$32.8m	-1.51%	0.01%
0.078%	Grantham Mayo Van Otterloo & Co. LLC	604,700	$29.4m	487.09%	0.1%
0.077%	Norges Bank Investment Management	596,594	$29.0m	0%	no data
0.07%	Bank of America Corporation, Asset Management Arm	542,237	$26.4m	11.07%	0.01%
0.069%	Northern Trust Global Investments	537,047	$26.1m	-22.36%	0.01%

Ticker	Exchange	Primary Security	Security Type	Country	Currency	Listed on
PCU	DUSE (Dusseldorf Stock Exchange)	Yes	Common Stock	DE	EUR	Jan 1996
SCCO	NYSE (New York Stock Exchange)	Yes	Common Stock	US	USD	Jan 1996
SCCO	BVL (Bolsa de Valores de Lima)	Yes	Common Stock	PE	USD	Jan 1996
PCU	DB (Deutsche Boerse AG)	Yes	Common Stock	DE	EUR	Jan 1996
SCCO *	BMV (Bolsa Mexicana de Valores)	Yes	Common Stock	MX	MXN	Jan 1996
0L8B	LSE (London Stock Exchange)	Yes	Common Stock	GB	USD	Jan 1996
SCCO	BASE (Buenos Aires Stock Exchange)		CEDEAR EACH REP 0.5 ORD SHS	AR	ARS	Mar 2012

Data	Last Updated (UTC time)
Company Analysis	2022/10/05 00:00
End of Day Share Price	2022/10/05 00:00
Earnings	2022/06/30
Annual Earnings	2021/12/31