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

Southern Copper Corporation (NYSE:SCCO) Director Bonilla Luis Miguel Palomino sold 100 shares of Southern Copper stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $195.00, for a total value of $19,500.00. Following the transaction, the director directly owned 1,903 shares of the company’s stock, valued at $371,085. This trade represents a 4.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Wednesday, August 5th, Bonilla Luis Miguel Palomino sold 200 shares of Southern Copper stock. The shares were sold at an average price of $199.15, for a total transaction of $39,830.00.
• On Friday, July 24th, Bonilla Luis Miguel Palomino sold 100 shares of Southern Copper stock. The shares were sold at an average price of $179.00, for a total transaction of $17,900.00.
• 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 transaction of $724.00.
• On Tuesday, June 2nd, Bonilla Luis Miguel Palomino sold 100 shares of Southern Copper stock. The shares were 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 shares were sold at an average price of $178.20, for a total transaction of $17,820.00.

Southern Copper Trading Down 1.8%

Shares of SCCO opened at $193.42 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 5.06 and a quick ratio of 3.89. Southern Copper Corporation has a 1-year low of $92.57 and a 1-year high of $223.88. The stock has a market cap of $159.78 billion, a price-to-earnings ratio of 28.28, a price-to-earnings-growth ratio of 1.69 and a beta of 1.11. The firm has a 50 day simple moving average of $181.69 and a 200-day simple moving average of $184.61.

Shares of Southern Copper are scheduled to split before the market opens on Tuesday, August 11th. The 1.012-1 split was recently announced. The newly minted shares will be payable to shareholders after the market closes on Monday, August 10th.

Southern Copper (NYSE:SCCO) last announced its earnings results on Wednesday, July 22nd. The basic materials company reported $2.01 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.06. The firm had revenue of $4.29 billion for the quarter, compared to analysts’ expectations of $4.37 billion. Southern Copper had a return on equity of 49.04% and a net margin of 35.87%.The business’s revenue for the quarter was up 40.6% on a year-over-year basis. Equities analysts forecast that Southern Copper Corporation will post 7.63 EPS for the current fiscal year.

Southern Copper Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Tuesday, August 11th will be paid a dividend of $1.10 per share. The ex-dividend date of this dividend is Tuesday, August 11th. This is an increase from Southern Copper’s previous quarterly dividend of $1.00. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.3%. Southern Copper’s dividend payout ratio is 58.48%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Morgan Stanley upped their target price on shares of Southern Copper from $146.00 to $158.00 and gave the company an “underweight” rating in a report on Wednesday, July 8th. Barclays set a $166.00 price objective on shares of Southern Copper and gave the company an “underweight” rating in a research report on Thursday, July 23rd. Wells Fargo & Company raised their target price on shares of Southern Copper from $171.00 to $172.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 9th. Citigroup reiterated a “positive” rating on shares of Southern Copper in a report on Wednesday, July 15th. Finally, Zacks Research upgraded Southern Copper from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have given a Hold rating and seven have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $148.60.

Hedge Funds Weigh In On Southern Copper

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp purchased a new stake in Southern Copper during the 2nd quarter worth $696,621,000. Norges Bank acquired a new position in shares of Southern Copper during the fourth quarter worth about $97,645,000. Capital Research Global Investors acquired a new position in shares of Southern Copper during the fourth quarter worth about $81,039,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Southern Copper in the first quarter worth about $85,342,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Southern Copper in the fourth quarter valued at about $46,560,000. Institutional investors and hedge funds own 7.94% of the company’s stock.

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.