Southern Copper (NYSE:SCCO) Director Bonilla Luis Miguel Palomino Sells 193 Shares of Stock

Southern Copper Corporation (NYSE:SCCO) Director Bonilla Luis Miguel Palomino sold 193 shares of Southern Copper stock in a transaction on Friday, March 13th. The shares were sold at an average price of $174.60, for a total transaction of $33,697.80. Following the completion of the sale, the director owned 1,707 shares in the company, valued at $298,042.20. The trade was a 10.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• 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 transaction of $1,330.00.

Southern Copper Stock Down 6.1%

Shares of NYSE:SCCO traded down $10.17 during midday trading on Thursday, reaching $156.55. The company had a trading volume of 940,325 shares, compared to its average volume of 2,172,885. The company has a quick ratio of 3.40, a current ratio of 3.89 and a debt-to-equity ratio of 0.61. The business’s 50 day moving average price is $191.71 and its 200 day moving average price is $150.84. The stock has a market cap of $127.15 billion, a PE ratio of 29.48, a P/E/G ratio of 1.83 and a beta of 1.03. Southern Copper Corporation has a 1-year low of $74.84 and a 1-year high of $223.88.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings results on Wednesday, January 28th. The basic materials company reported $1.55 EPS for the quarter, beating the consensus estimate of $1.54 by $0.01. The firm had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.73 billion. Southern Copper had a return on equity of 41.97% and a net margin of 32.30%.During the same period in the prior year, the firm posted $0.98 earnings per share. Research analysts forecast that Southern Copper Corporation will post 4.66 EPS for the current fiscal year.

Southern Copper Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Tuesday, February 10th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Tuesday, February 10th. This is a boost from Southern Copper’s previous quarterly dividend of $0.90. Southern Copper’s payout ratio is currently 75.19%.

Hedge Funds Weigh In On Southern Copper

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SCCO. Hopwood Financial Services Inc. acquired a new stake in shares of Southern Copper during the 3rd quarter worth about $25,000. SHP Wealth Management bought a new position in Southern Copper in the 4th quarter valued at about $25,000. MJT & Associates Financial Advisory Group Inc. raised its holdings in Southern Copper by 65.1% in the 3rd quarter. MJT & Associates Financial Advisory Group Inc. now owns 213 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 84 shares during the period. Lloyd Advisory Services LLC. acquired a new stake in Southern Copper during the fourth quarter worth approximately $29,000. Finally, Virtus Advisers LLC bought a new stake in shares of Southern Copper during the fourth quarter worth approximately $29,000. 7.94% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $116.51 price target (down from $118.49) on shares of Southern Copper in a research report on Friday, January 23rd. Wall Street Zen downgraded shares of Southern Copper from a “buy” rating to a “hold” rating in a research report on Sunday, March 1st. Zacks Research cut shares of Southern Copper from a “strong-buy” rating to a “hold” rating in a report on Monday, December 8th. Bank of America downgraded shares of Southern Copper from a “neutral” rating to an “underperform” rating and raised their target price for the company from $162.00 to $175.00 in a research note on Thursday, February 26th. Finally, Citigroup reiterated a “sell” rating on shares of Southern Copper in a report on Monday, January 12th. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and eight have issued a Sell rating to the stock. According to data from MarketBeat, Southern Copper presently has a consensus rating of “Reduce” and a consensus price target of $139.99.

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.