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

Southern Copper Corporation (NYSE:SCCO) Director Bonilla Luis Miguel Palomino sold 100 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $131.90, for a total value of $13,190.00. Following the completion of the transaction, the director directly owned 2,013 shares of the company’s stock, valued at $265,514.70. This trade represents a 4.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Friday, October 31st, Bonilla Luis Miguel Palomino sold 200 shares of Southern Copper stock. The stock was sold at an average price of $139.35, for a total value of $27,870.00.
• 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 shares were 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 shares were 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 shares were sold at an average price of $97.50, for a total transaction of $39,000.00.

Southern Copper Price Performance

Shares of SCCO stock traded down $7.80 during midday trading on Tuesday, reaching $130.50. 2,059,388 shares of the company traded hands, compared to its average volume of 1,489,237. The company has a debt-to-equity ratio of 0.67, a current ratio of 5.27 and a quick ratio of 4.51. Southern Copper Corporation has a 1-year low of $74.84 and a 1-year high of $144.81. The firm has a market cap of $104.93 billion, a PE ratio of 27.36, a price-to-earnings-growth ratio of 1.29 and a beta of 1.02. The firm’s 50 day simple moving average is $118.45 and its two-hundred day simple moving average is $103.49.

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

Southern Copper Cuts Dividend

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

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. The Goldman Sachs Group reaffirmed a “sell” rating and set a $115.00 price target (up from $89.00) on shares of Southern Copper in a research report on Wednesday, October 29th. Weiss Ratings restated a “buy (b-)” rating on shares of Southern Copper in a research note on Wednesday, October 8th. Morgan Stanley set a $132.00 price objective on shares of Southern Copper and gave the stock an “equal weight” rating in a research note on Wednesday, October 8th. Citigroup restated a “sell” rating and issued a $108.00 price target (up previously from $89.10) on shares of Southern Copper in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. raised their target price on Southern Copper from $92.00 to $114.50 and gave the company a “neutral” rating in a research note on Monday, October 27th. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Southern Copper presently has a consensus rating of “Reduce” and an average target price of $117.94.

Institutional Trading of Southern Copper

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. MJT & Associates Financial Advisory Group Inc. increased its position in shares of Southern Copper by 65.1% during the 3rd 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. United Community Bank bought a new stake in Southern Copper during the third quarter worth about $30,000. Cullen Frost Bankers Inc. grew its stake in Southern Copper by 117.6% during the first quarter. Cullen Frost Bankers Inc. now owns 272 shares of the basic materials company’s stock worth $25,000 after buying an additional 147 shares during the last quarter. Tobam bought a new stake in Southern Copper during the second quarter worth about $29,000. Finally, Golden State Wealth Management LLC bought a new stake in Southern Copper during the first quarter worth about $29,000. 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.