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

Southern Copper Corporation (NYSE:SCCO) Director Bonilla Luis Miguel Palomino sold 100 shares of the stock in a transaction on Friday, July 24th. The stock was sold at an average price of $179.00, for a total transaction of $17,900.00. Following the completion of the sale, the director directly owned 1,603 shares of the company’s stock, valued at approximately $286,937. This trade represents a 5.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Friday, June 5th, Bonilla Luis Miguel Palomino sold 4 shares of Southern Copper stock. The shares were sold at an average price of $181.00, for a total value of $724.00.
• On Tuesday, June 2nd, Bonilla Luis Miguel Palomino sold 100 shares of Southern Copper stock. The stock was sold at an average price of $200.00, for a total value 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 Stock Performance

Shares of NYSE SCCO opened at $179.25 on Wednesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.89 and a current ratio of 4.38. The company has a market cap of $148.08 billion, a P/E ratio of 26.21, a P/E/G ratio of 1.54 and a beta of 1.11. The firm’s fifty day moving average is $181.11 and its two-hundred day moving average is $183.90. Southern Copper Corporation has a 52-week low of $88.73 and a 52-week high of $223.88.

Southern Copper’s stock is set to split on the morning of Tuesday, August 11th. The 1.012-1 split was recently announced. The newly created shares will be issued to shareholders after the market closes on Monday, August 10th.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings data on Wednesday, July 22nd. The basic materials company reported $2.01 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $0.06. The firm had revenue of $4.29 billion during the quarter, compared to analyst estimates of $4.37 billion. Southern Copper had a return on equity of 50.74% and a net margin of 35.87%.The business’s revenue was up 40.6% on a year-over-year basis. As a group, analysts anticipate that Southern Copper Corporation will post 7.63 EPS for the current fiscal year.

Southern Copper Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Tuesday, August 11th will be given a dividend of $1.10 per share. The ex-dividend date is Tuesday, August 11th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.5%. This is an increase from Southern Copper’s previous quarterly dividend of $1.00. Southern Copper’s dividend payout ratio is currently 58.48%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. E. Ohman J or Asset Management AB raised its stake in shares of Southern Copper by 17.4% in the second quarter. E. Ohman J or Asset Management AB now owns 7,163 shares of the basic materials company’s stock valued at $1,248,000 after acquiring an additional 1,061 shares during the period. Wealthcare Advisory Partners LLC boosted its stake in shares of Southern Copper by 3.7% during the 2nd quarter. Wealthcare Advisory Partners LLC now owns 2,747 shares of the basic materials company’s stock worth $479,000 after purchasing an additional 97 shares during the period. Shrier Wealth Management LLC grew its holdings in Southern Copper by 5.8% during the 2nd quarter. Shrier Wealth Management LLC now owns 2,217 shares of the basic materials company’s stock valued at $386,000 after purchasing an additional 122 shares during the last quarter. Focus Financial Network Inc. grew its holdings in Southern Copper by 16.7% during the 2nd quarter. Focus Financial Network Inc. now owns 5,024 shares of the basic materials company’s stock valued at $876,000 after purchasing an additional 718 shares during the last quarter. Finally, Allied Private Wealth LLC purchased a new stake in Southern Copper in the 2nd quarter worth about $149,000. Institutional investors own 7.94% of the company’s stock.

Wall Street Analysts Forecast Growth

SCCO has been the topic of several research reports. Wells Fargo & Company boosted their price target 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. Zacks Research raised shares of Southern Copper from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 9th. UBS Group restated a “sell” rating and issued a $160.00 target price (up from $145.00) on shares of Southern Copper in a report on Tuesday, June 30th. Weiss Ratings cut shares of Southern Copper from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, July 8th. Finally, Morgan Stanley increased their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have issued a Hold rating and seven have assigned a Sell rating to the stock. Based on data from MarketBeat, Southern Copper currently has a consensus rating of “Reduce” and an average price target of $148.60.

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.