Insider Selling: Southern Copper (NYSE:SCCO) Director Sells 100 Shares

Southern Copper Corporation (NYSE:SCCO) Director Luis Palomino Bonilla sold 100 shares of Southern Copper stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $210.00, for a total value of $21,000.00. Following the completion of the sale, the director owned 1,503 shares in the company, valued at approximately $315,630. The trade was a 6.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Friday, September 4th, Luis Palomino Bonilla sold 100 shares of Southern Copper stock. The stock was sold at an average price of $200.00, for a total transaction of $20,000.00.
• 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 transaction of $19,461.46.
• On Wednesday, August 5th, Luis Palomino Bonilla sold 202 shares of Southern Copper stock. The stock was sold at an average price of $196.79, for a total transaction 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 transaction of $17,864.62.

Southern Copper Price Performance

SCCO stock traded down $13.01 during mid-day trading on Thursday, reaching $196.25. The company’s stock had a trading volume of 588,975 shares, compared to its average volume of 1,605,909. The stock has a market cap of $163.74 billion, a PE ratio of 28.71, a P/E/G ratio of 1.92 and a beta of 1.14. The company has a current ratio of 5.06, a quick ratio of 4.56 and a debt-to-equity ratio of 0.63. Southern Copper Corporation has a fifty-two week low of $101.77 and a fifty-two week high of $223.88. The company’s 50 day moving average is $189.67 and its two-hundred day moving average is $184.30.

Southern Copper (NYSE:SCCO) last issued its earnings results on Wednesday, July 22nd. The basic materials company reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.93 by $0.06. Southern Copper had a return on equity of 49.04% and a net margin of 35.87%.The business had revenue of $4.29 billion for the quarter, compared to analysts’ expectations of $4.37 billion. The firm’s quarterly revenue was up 40.6% on a year-over-year basis. Equities research analysts expect that Southern Copper Corporation will post 7.59 EPS for the current year.

Southern Copper Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Shareholders of record on Tuesday, August 11th were paid a $1.10 dividend. This is a boost from Southern Copper’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend was Tuesday, August 11th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.2%. Southern Copper’s dividend payout ratio is 64.33%.

Institutional Investors Weigh In On Southern Copper

Several institutional investors and hedge funds have recently modified their holdings of SCCO. SHP Wealth Management purchased a new position in Southern Copper during the 4th quarter valued at about $25,000. Bell Investment Advisors Inc purchased a new stake in Southern Copper during the second quarter worth about $26,000. Rakuten Securities Inc. purchased a new stake in Southern Copper during the second quarter worth about $28,000. Lloyd Advisory Services LLC. acquired a new stake in shares of Southern Copper during the fourth quarter worth about $29,000. Finally, Virtus Advisers LLC acquired a new stake in shares of Southern Copper during the fourth quarter worth about $29,000. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on SCCO. JPMorgan Chase & Co. upped their price objective on shares of Southern Copper from $125.49 to $129.94 and gave the company an “underweight” rating in a report on Wednesday, June 17th. Zacks Research lowered shares of Southern Copper from a “strong-buy” rating to a “hold” rating in a report on Friday, August 7th. CICC Research cut shares of Southern Copper to a “market perform” rating in a research note on Sunday, July 26th. Wall Street Zen downgraded shares of Southern Copper from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Finally, Citigroup reaffirmed a “positive” rating on shares of Southern Copper in a research report on Wednesday, July 15th. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and seven have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $146.84.

Southern Copper Company Profile

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.