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 business’s stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $179.00, for a total transaction of $17,900.00. Following the transaction, the director owned 1,603 shares of the company’s stock, valued at approximately $286,937. This represents a 5.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Friday, June 5th, Bonilla Luis Miguel Palomino sold 4 shares of Southern Copper stock. The stock was sold at an average price of $181.00, for a total value of $724.00.
• On Tuesday, June 2nd, Bonilla Luis Miguel Palomino sold 100 shares of Southern Copper stock. The stock was sold at an average price of $200.00, for a total transaction of $20,000.00.
• 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 stock was sold at an average price of $178.20, for a total value of $17,820.00.

Southern Copper Stock Down 0.1%

Shares of NYSE SCCO traded down $0.24 during midday trading on Tuesday, reaching $179.08. The company’s stock had a trading volume of 664,310 shares, compared to its average volume of 1,708,198. The stock has a market capitalization of $147.93 billion, a price-to-earnings ratio of 26.13, a PEG ratio of 1.54 and a beta of 1.11. Southern Copper Corporation has a fifty-two week low of $88.73 and a fifty-two week high of $223.88. The stock has a 50 day simple moving average of $180.91 and a 200-day simple moving average of $183.75. The company has a current ratio of 4.38, a quick ratio of 3.89 and a debt-to-equity ratio of 0.57.

Shares of Southern Copper are going to split on the morning of Tuesday, August 11th. The 1.012-1 split was recently announced. The newly minted shares will be payable to shareholders after the closing bell on Monday, August 10th.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings results on Wednesday, July 22nd. The basic materials company reported $2.01 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $0.06. The firm had revenue of $4.29 billion during the quarter, compared to the consensus estimate of $4.37 billion. Southern Copper had a return on equity of 50.74% and a net margin of 35.87%.The firm’s quarterly revenue was up 40.6% on a year-over-year basis. Equities research analysts predict that Southern Copper Corporation will post 7.63 earnings per share for the current year.

Southern Copper Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Tuesday, August 11th will be issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Tuesday, August 11th. This is a positive change from Southern Copper’s previous quarterly dividend of $1.00. Southern Copper’s payout ratio is presently 64.33%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SCCO. SHP Wealth Management bought a new position in shares of Southern Copper in the 4th quarter worth about $25,000. Lloyd Advisory Services LLC. acquired a new stake in Southern Copper in the fourth quarter valued at approximately $29,000. Virtus Advisers LLC bought a new stake in shares of Southern Copper during the fourth quarter valued at approximately $29,000. Godfrey Financial Associates Inc. acquired a new position in shares of Southern Copper during the fourth quarter worth approximately $30,000. Finally, IFP Advisors Inc lifted its holdings in shares of Southern Copper by 233.3% in the 4th quarter. IFP Advisors Inc now owns 230 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 161 shares in the last quarter. Institutional investors own 7.94% of the company’s stock.

Analysts Set New Price Targets

SCCO has been the subject of several analyst reports. UBS Group reiterated a “sell” rating and issued a $160.00 price objective (up from $145.00) on shares of Southern Copper in a research note on Tuesday, June 30th. Wall Street Zen upgraded shares of Southern Copper from a “hold” rating to a “buy” rating in a research report on Saturday, June 27th. Weiss Ratings lowered Southern Copper from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, July 8th. Morgan Stanley increased their target price on shares of Southern Copper from $146.00 to $158.00 and gave the stock an “underweight” rating in a report on Wednesday, July 8th. Finally, Zacks Research raised shares of Southern Copper from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have issued a Hold rating and seven have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $148.60.

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.