Bonilla Luis Miguel Palomino Sells 200 Shares of Southern Copper (NYSE:SCCO) Stock

Southern Copper Corporation (NYSE:SCCO) Director Bonilla Luis Miguel Palomino sold 200 shares of the company’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $139.35, for a total value of $27,870.00. Following the sale, the director owned 1,713 shares of the company’s stock, valued at approximately $238,706.55. The trade was a 10.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Tuesday, November 4th, Bonilla Luis Miguel Palomino sold 100 shares of Southern Copper stock. The stock was sold at an average price of $131.90, for a total value of $13,190.00.
• On Friday, September 12th, Bonilla Luis Miguel Palomino sold 200 shares of Southern Copper stock. The stock was sold at an average price of $105.44, for a total value of $21,088.00.
• On Wednesday, September 3rd, Bonilla Luis Miguel Palomino sold 214 shares of Southern Copper stock. The stock was sold at an average price of $101.00, for a total value of $21,614.00.
• On Friday, August 8th, Bonilla Luis Miguel Palomino sold 414 shares of Southern Copper stock. The stock was sold at an average price of $100.00, for a total value of $41,400.00.
• On Thursday, August 7th, Bonilla Luis Miguel Palomino sold 400 shares of Southern Copper stock. The stock was sold at an average price of $97.50, for a total value of $39,000.00.

Southern Copper Trading Down 5.6%

SCCO stock opened at $130.50 on Wednesday. The company has a market cap of $104.93 billion, a price-to-earnings ratio of 27.36, a PEG ratio of 1.29 and a beta of 1.02. The company has a quick ratio of 4.51, a current ratio of 5.27 and a debt-to-equity ratio of 0.67. The business has a fifty day simple moving average of $119.10 and a 200-day simple moving average of $103.80. Southern Copper Corporation has a 52 week low of $74.84 and a 52 week high of $144.81.

Southern Copper (NYSE:SCCO) last announced its quarterly earnings results on Tuesday, October 28th. The basic materials company reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.09. Southern Copper had a return on equity of 39.62% and a net margin of 30.98%.The firm had revenue of $3.38 billion during the quarter, compared to the consensus estimate of $3.05 billion. On average, equities research analysts expect that Southern Copper Corporation will post 4.66 EPS for the current year.

Southern Copper Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Wednesday, November 12th will be given a $0.90 dividend. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $3.60 annualized dividend and a yield of 2.8%. Southern Copper’s dividend payout ratio (DPR) is 75.47%.

Wall Street Analyst Weigh In

SCCO has been the topic of several research reports. Wells Fargo & Company raised their price objective on Southern Copper from $121.00 to $137.00 and gave the company an “equal weight” rating in a research report on Thursday, October 30th. Citigroup reissued a “sell” rating and issued a $108.00 price objective (up from $89.10) on shares of Southern Copper in a research report on Wednesday, October 8th. JPMorgan Chase & Co. raised their price objective on Southern Copper from $92.00 to $114.50 and gave the company a “neutral” rating in a research report on Monday, October 27th. HSBC reissued a “hold” rating and issued a $118.00 price objective (up from $105.00) on shares of Southern Copper in a research report on Friday, October 17th. Finally, The Goldman Sachs Group restated a “sell” rating and set a $115.00 target price (up from $89.00) on shares of Southern Copper in a research note on Wednesday, October 29th. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Southern Copper has a consensus rating of “Reduce” and a consensus target price of $117.94.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of SCCO. Cullen Frost Bankers Inc. boosted its holdings in Southern Copper by 117.6% in the first quarter. Cullen Frost Bankers Inc. now owns 272 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 147 shares during the last quarter. MJT & Associates Financial Advisory Group Inc. grew its stake in Southern Copper by 65.1% in the third quarter. MJT & Associates Financial Advisory Group Inc. now owns 213 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 84 shares in the last quarter. Golden State Wealth Management LLC acquired a new position in Southern Copper in the first quarter worth about $29,000. Tobam acquired a new position in Southern Copper in the second quarter worth about $29,000. Finally, United Community Bank acquired a new position in Southern Copper in the third quarter worth about $30,000. Hedge funds and other institutional investors own 7.94% of the company’s stock.

About Southern Copper

Southern Copper Corporation engages in mining, exploring, smelting, and refining copper and other minerals in Peru, Mexico, Argentina, Ecuador, and Chile. The company is involved in the mining, milling, and flotation of copper ore to produce copper and molybdenum concentrates; smelting of copper concentrates to produce blister and anode copper; refining of anode copper to produce copper cathodes; production of molybdenum concentrate and sulfuric acid; production of refined silver, gold, and other materials; and mining and processing of zinc, copper, molybdenum, silver, gold, and lead.