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

Southern Copper Corporation (NYSE:SCCO) Director Luis Palomino Bonilla sold 100 shares of Southern Copper stock in a transaction on Friday, September 4th. The shares were sold at an average price of $200.00, for a total value of $20,000.00. Following the transaction, the director owned 1,603 shares in the company, valued at approximately $320,600. This trade represents a 5.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Tuesday, August 4th, Luis Palomino Bonilla sold 101 shares of Southern Copper stock. The shares were sold at an average price of $192.69, for a total value of $19,461.46.
• On Wednesday, August 5th, Luis Palomino Bonilla sold 202 shares of Southern Copper stock. The shares were sold at an average price of $196.79, for a total value of $39,751.28.
• On Friday, July 24th, Luis Palomino Bonilla sold 101 shares of Southern Copper stock. The shares were sold at an average price of $176.88, for a total value of $17,864.62.

Southern Copper Price Performance

NYSE:SCCO opened at $209.02 on Wednesday. The company has a quick ratio of 4.56, a current ratio of 5.06 and a debt-to-equity ratio of 0.63. The business’s 50-day moving average price is $188.81 and its 200 day moving average price is $184.17. Southern Copper Corporation has a 52-week low of $99.87 and a 52-week high of $223.88. The firm has a market cap of $174.39 billion, a P/E ratio of 30.56, a PEG ratio of 1.83 and a beta of 1.14.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings results on Wednesday, July 22nd. The basic materials company reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $1.93 by $0.06. The company had revenue of $4.29 billion during the quarter, compared to the consensus estimate of $4.37 billion. Southern Copper had a net margin of 35.87% and a return on equity of 49.04%. Southern Copper’s revenue was up 40.6% compared to the same quarter last year. As a group, sell-side analysts predict that Southern Copper Corporation will post 7.59 earnings per share for the current fiscal year.

Southern Copper Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Investors of record on Tuesday, August 11th were paid a dividend of $1.10 per share. This is a boost from Southern Copper’s previous quarterly dividend of $1.00. This represents a $4.40 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Tuesday, August 11th. Southern Copper’s dividend payout ratio (DPR) is currently 64.33%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. SHP Wealth Management acquired a new position in shares of Southern Copper in the fourth quarter worth $25,000. Bell Investment Advisors Inc acquired a new position in shares of Southern Copper during the 2nd quarter worth $26,000. Rakuten Securities Inc. bought a new position in shares of Southern Copper during the 2nd quarter valued at $28,000. Lloyd Advisory Services LLC. bought a new position in shares of Southern Copper during the 4th quarter valued at $29,000. Finally, Virtus Advisers LLC acquired a new stake in shares of Southern Copper in the 4th quarter valued at $29,000. Institutional investors and hedge funds own 7.94% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Scotiabank restated an “underperform” rating and issued a $138.34 price target (up from $133.40) on shares of Southern Copper in a research report on Monday, June 15th. UBS Group reissued a “sell” rating and set a $158.10 price objective (up from $143.28) on shares of Southern Copper in a research note on Tuesday, June 30th. CICC Research cut Southern Copper to a “market perform” rating in a report on Sunday, July 26th. JPMorgan Chase & Co. upped their target price on Southern Copper from $125.49 to $129.94 and gave the company an “underweight” rating in a report on Wednesday, June 17th. Finally, Wall Street Zen lowered Southern Copper from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and seven have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $146.84.

About Southern Copper

Southern Copper Corporation (NYSE: SCCO) is an integrated copper producer engaged in the exploration, mining, processing, smelting and refining of minerals. The company produces copper in the form of cathodes, concentrates and anodes, along with byproducts including molybdenum, zinc, silver, lead and sulfuric acid.

Southern Copper operates mining and processing facilities in Mexico and Peru. Its principal Mexican operations include the Buenavista del Cobre and La Caridad mining complexes, while its Peruvian operations include the Toquepala and Cuajone mines and the Ilo smelter and refinery.