Southern Copper (NYSE:SCCO) Director Sells $17,820.00 in Stock

Southern Copper Corporation (NYSE:SCCO) Director Bonilla Luis Miguel Palomino sold 100 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $178.20, for a total value of $17,820.00. Following the completion of the sale, the director directly owned 2,007 shares in the company, valued at $357,647.40. This represents a 4.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Friday, March 13th, Bonilla Luis Miguel Palomino sold 193 shares of Southern Copper stock. The stock was sold at an average price of $174.60, for a total value of $33,697.80.
• On Thursday, March 12th, Bonilla Luis Miguel Palomino sold 7 shares of Southern Copper stock. The stock was sold at an average price of $190.00, for a total value of $1,330.00.

Southern Copper Stock Performance

Shares of SCCO traded down $4.29 during trading hours on Monday, reaching $172.49. 1,004,243 shares of the company’s stock traded hands, compared to its average volume of 1,914,310. The firm has a market capitalization of $141.29 billion, a price-to-earnings ratio of 28.48, a P/E/G ratio of 1.73 and a beta of 1.07. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.38 and a quick ratio of 3.89. Southern Copper Corporation has a twelve month low of $88.73 and a twelve month high of $223.88. The business’s fifty day simple moving average is $179.20 and its two-hundred day simple moving average is $168.35.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.88 by $0.04. The company had revenue of $4.25 billion for the quarter, compared to analyst estimates of $3.96 billion. Southern Copper had a return on equity of 45.63% and a net margin of 34.13%. Analysts predict that Southern Copper Corporation will post 6.97 earnings per share for the current year.

Southern Copper Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Wednesday, May 13th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Wednesday, May 13th. Southern Copper’s dividend payout ratio (DPR) is 66.12%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SCCO. Capital World Investors grew its holdings in Southern Copper by 36.1% during the third quarter. Capital World Investors now owns 6,437,608 shares of the basic materials company’s stock worth $781,268,000 after acquiring an additional 1,708,693 shares during the period. Norges Bank acquired a new position in shares of Southern Copper in the 4th quarter valued at $97,645,000. Capital Research Global Investors acquired a new position in shares of Southern Copper in the 4th quarter valued at $81,039,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Southern Copper in the 1st quarter valued at $85,342,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of Southern Copper in the 4th quarter valued at $46,560,000. 7.94% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Scotiabank reissued an “underperform” rating and set a $135.00 price target (up from $133.00) on shares of Southern Copper in a report on Friday. Bank of America lowered 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. JPMorgan Chase & Co. upped their price objective on Southern Copper from $117.50 to $127.00 and gave the company an “underweight” rating in a report on Friday, April 10th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Southern Copper in a report on Friday, March 27th. Finally, UBS Group lowered their target price on Southern Copper from $150.00 to $140.00 and set a “sell” rating on the stock in a report on Friday, March 27th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and seven have given a Sell rating to the company. According to MarketBeat, Southern Copper currently has an average rating of “Reduce” and a consensus target price of $144.43.

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.