Southern Copper (NYSE:SCCO) Director Bonilla Luis Miguel Palomino Sells 100 Shares

Southern Copper Corporation (NYSE:SCCO) Director Bonilla Luis Miguel Palomino sold 100 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $200.00, for a total transaction of $20,000.00. Following the sale, the director directly owned 1,707 shares in the company, valued at $341,400. This trade represents a 5.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Bonilla Luis Miguel Palomino also recently made the following trade(s):

• On Thursday, May 21st, Bonilla Luis Miguel Palomino sold 200 shares of Southern Copper stock. The shares were sold at an average price of $177.82, for a total transaction of $35,564.00.
• On Friday, May 15th, Bonilla Luis Miguel Palomino sold 100 shares of Southern Copper stock. The shares were sold at an average price of $178.20, for a total transaction of $17,820.00.
• On Friday, March 13th, Bonilla Luis Miguel Palomino sold 193 shares of Southern Copper stock. The shares were sold at an average price of $174.60, for a total transaction of $33,697.80.
• On Thursday, March 12th, Bonilla Luis Miguel Palomino sold 7 shares of Southern Copper stock. The shares were sold at an average price of $190.00, for a total transaction of $1,330.00.

Southern Copper Stock Performance

Shares of NYSE SCCO opened at $201.35 on Wednesday. The firm’s 50-day moving average price is $179.72 and its 200-day moving average price is $171.94. 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 company has a market cap of $164.92 billion, a PE ratio of 33.28, a PEG ratio of 1.92 and a beta of 1.09. Southern Copper Corporation has a 52-week low of $88.73 and a 52-week high of $223.88.

Southern Copper (NYSE:SCCO) last announced its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.04. The firm had revenue of $4.25 billion for the quarter, compared to the consensus estimate of $3.96 billion. Southern Copper had a net margin of 34.13% and a return on equity of 45.63%. As a group, analysts anticipate that Southern Copper Corporation will post 6.93 EPS for the current year.

Southern Copper Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Wednesday, May 13th were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Wednesday, May 13th. Southern Copper’s dividend payout ratio (DPR) is presently 66.12%.

Hedge Funds Weigh In On Southern Copper

Several institutional investors have recently made changes to their positions in the business. BankChampaign National Association bought a new position in shares of Southern Copper in the 1st quarter worth approximately $600,000. Amundi lifted its stake in shares of Southern Copper by 3.6% in the 1st quarter. Amundi now owns 449,320 shares of the basic materials company’s stock worth $77,310,000 after purchasing an additional 15,664 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Southern Copper by 41.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 5,646 shares of the basic materials company’s stock worth $972,000 after purchasing an additional 1,667 shares during the period. California State Teachers Retirement System lifted its stake in shares of Southern Copper by 0.4% in the 1st quarter. California State Teachers Retirement System now owns 252,524 shares of the basic materials company’s stock worth $43,449,000 after purchasing an additional 931 shares during the period. Finally, Royal Bank of Canada lifted its stake in shares of Southern Copper by 192.7% in the 1st quarter. Royal Bank of Canada now owns 108,462 shares of the basic materials company’s stock worth $18,662,000 after purchasing an additional 71,405 shares during the period. Institutional investors own 7.94% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SCCO. UBS Group raised their price target on shares of Southern Copper from $140.00 to $145.00 and gave the company a “sell” rating in a report on Thursday, May 21st. Wall Street Zen downgraded shares of Southern Copper from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Barclays began coverage on shares of Southern Copper in a report on Thursday, May 21st. They set an “underweight” rating and a $148.00 price target on the stock. Wells Fargo & Company set a $171.00 price target on shares of Southern Copper and gave the company an “equal weight” rating in a report on Friday, May 1st. Finally, Bank of America downgraded shares of Southern Copper from a “neutral” rating to an “underperform” rating and raised their price target for the company from $162.00 to $175.00 in a report on Thursday, February 26th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and eight have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $145.14.

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.