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 Southern Copper stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $178.20, for a total value of $17,820.00. Following the completion of the transaction, the director owned 2,007 shares of the company’s stock, valued at approximately $357,647.40. The trade was a 4.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Friday, March 13th, Bonilla Luis Miguel Palomino sold 193 shares of Southern Copper stock. The shares were sold at an average price of $174.60, for a total value of $33,697.80.
• On Thursday, March 12th, Bonilla Luis Miguel Palomino sold 7 shares of Southern Copper stock. The shares were sold at an average price of $190.00, for a total value of $1,330.00.

Southern Copper Stock Performance

SCCO opened at $171.90 on Tuesday. The business’s 50 day moving average is $178.80 and its 200-day moving average is $168.59. The stock has a market cap of $140.80 billion, a PE ratio of 28.41, a price-to-earnings-growth ratio of 1.73 and a beta of 1.07. The company has a current ratio of 4.38, a quick ratio of 3.89 and a debt-to-equity ratio of 0.57. Southern Copper Corporation has a twelve month low of $88.73 and a twelve month high of $223.88.

Southern Copper (NYSE:SCCO) last released its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.88 by $0.04. The company had revenue of $4.25 billion for the quarter, compared to analysts’ expectations of $3.96 billion. Southern Copper had a return on equity of 45.63% and a net margin of 34.13%. On average, analysts predict that Southern Copper Corporation will post 6.97 earnings per share for the current year.

Southern Copper Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Wednesday, May 13th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Wednesday, May 13th. Southern Copper’s payout ratio is 66.12%.

Institutional Investors Weigh In On Southern Copper

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Capital World Investors raised its holdings in Southern Copper by 36.1% during the third quarter. Capital World Investors now owns 6,437,608 shares of the basic materials company’s stock worth $781,268,000 after purchasing an additional 1,708,693 shares in the last quarter. State Street Corp raised its holdings in Southern Copper by 2.4% during the fourth quarter. State Street Corp now owns 2,862,244 shares of the basic materials company’s stock worth $410,646,000 after purchasing an additional 66,268 shares in the last quarter. Fisher Asset Management LLC raised its holdings in Southern Copper by 0.3% during the fourth quarter. Fisher Asset Management LLC now owns 2,536,228 shares of the basic materials company’s stock worth $363,873,000 after purchasing an additional 7,194 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Southern Copper by 8.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,181,293 shares of the basic materials company’s stock worth $169,480,000 after purchasing an additional 90,237 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Southern Copper by 12.8% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,091,632 shares of the basic materials company’s stock worth $132,479,000 after purchasing an additional 123,532 shares in the last quarter. Institutional investors own 7.94% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Morgan Stanley lifted their price target on Southern Copper from $155.00 to $160.00 and gave the company an “underweight” rating in a report on Thursday, April 9th. Bank of America cut Southern Copper from a “neutral” rating to an “underperform” rating and lifted their price target for the company from $162.00 to $175.00 in a report on Thursday, February 26th. Wells Fargo & Company set a $171.00 price target on Southern Copper and gave the company an “equal weight” rating in a report on Friday, May 1st. JPMorgan Chase & Co. lifted their price target on Southern Copper from $117.50 to $127.00 and gave the company an “underweight” rating in a report on Friday, April 10th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Southern Copper in a report on Friday, March 27th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and seven have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $144.43.

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.