Southern Copper (NYSE:SCCO) Director Sells $1,954,472.32 in Stock

Southern Copper Corporation (NYSE:SCCO) Director Lerdo De Tejada Leon Contreras sold 9,248 shares of the stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $211.34, for a total value of $1,954,472.32. Following the transaction, the director directly owned 600 shares in the company, valued at $126,804. The trade was a 93.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Southern Copper Stock Performance

Southern Copper stock traded up $22.55 during mid-day trading on Tuesday, reaching $215.35. 3,206,214 shares of the stock traded hands, compared to its average volume of 2,602,412. The business’s 50-day moving average is $157.91 and its 200-day moving average is $129.47. The stock has a market capitalization of $174.91 billion, a PE ratio of 45.15, a price-to-earnings-growth ratio of 1.61 and a beta of 1.06. Southern Copper Corporation has a 12-month low of $74.84 and a 12-month high of $218.81. The company has a debt-to-equity ratio of 0.64, a current ratio of 4.52 and a quick ratio of 3.91.

Shares of Southern Copper are going to split before the market opens on Tuesday, February 10th. The 1.0085-1 split was recently announced. The newly issued shares will be distributed to shareholders after the market closes on Monday, February 9th.

Southern Copper Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Tuesday, February 10th will be issued a $1.00 dividend. The ex-dividend date of this dividend is Tuesday, February 10th. This represents a $4.00 dividend on an annualized basis and a yield of 1.9%. This is an increase from Southern Copper’s previous quarterly dividend of $0.90. Southern Copper’s payout ratio is 83.86%.

Institutional Trading of Southern Copper

A number of large investors have recently made changes to their positions in the business. Drucker Wealth 3.0 LLC lifted its holdings in shares of Southern Copper by 0.7% in the 4th quarter. Drucker Wealth 3.0 LLC now owns 15,309 shares of the basic materials company’s stock valued at $2,196,000 after acquiring an additional 104 shares during the last quarter. Strengthening Families & Communities LLC boosted its holdings in shares of Southern Copper by 2.1% in the 4th quarter. Strengthening Families & Communities LLC now owns 28,921 shares of the basic materials company’s stock worth $4,149,000 after purchasing an additional 598 shares during the period. International Assets Investment Management LLC bought a new position in shares of Southern Copper during the 4th quarter valued at approximately $37,000. Sequoia Financial Advisors LLC lifted its position in Southern Copper by 11.4% in the fourth quarter. Sequoia Financial Advisors LLC now owns 10,914 shares of the basic materials company’s stock worth $1,566,000 after buying an additional 1,120 shares during the last quarter. Finally, Gateway Investment Advisers LLC boosted its stake in Southern Copper by 0.8% during the fourth quarter. Gateway Investment Advisers LLC now owns 109,716 shares of the basic materials company’s stock worth $15,741,000 after buying an additional 900 shares during the period. 7.94% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Jefferies Financial Group set a $155.00 target price on shares of Southern Copper and gave the stock a “buy” rating in a report on Monday, October 6th. Weiss Ratings restated a “buy (b)” rating on shares of Southern Copper in a research report on Monday, December 29th. Scotiabank reiterated an “underperform” rating on shares of Southern Copper in a research report on Tuesday, January 27th. Zacks Research cut Southern Copper from a “strong-buy” rating to a “hold” rating in a report on Monday, December 8th. Finally, Wall Street Zen lowered shares of Southern Copper from a “buy” rating to a “hold” rating in a report on Saturday. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and seven have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $137.65.

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.