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 Southern Copper stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $137.50, for a total value of $13,750.00. Following the transaction, the director owned 1,813 shares in the company, valued at $249,287.50. This trade represents a 5.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

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, 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 shares were 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 transaction of $21,614.00.

Southern Copper Price Performance

Shares of NYSE:SCCO opened at $136.57 on Friday. The company has a market capitalization of $109.81 billion, a P/E ratio of 28.63, a P/E/G ratio of 1.29 and a beta of 1.08. Southern Copper Corporation has a 1-year low of $74.84 and a 1-year high of $144.81. The firm’s 50 day simple moving average is $121.53 and its two-hundred day simple moving average is $104.60. 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 shares are scheduled to split on Wednesday, November 12th. The 1.0085-1 split was recently announced. The newly minted shares will be distributed to shareholders after the closing bell on Tuesday, November 11th.

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

Southern Copper Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Wednesday, November 12th will be paid a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 2.6%. The ex-dividend date is Wednesday, November 12th. Southern Copper’s dividend payout ratio is presently 75.47%.

Analyst Upgrades and Downgrades

SCCO has been the topic of several recent analyst reports. Jefferies Financial Group set a $155.00 price objective on shares of Southern Copper and gave the company a “buy” rating in a research report on Monday, October 6th. HSBC reaffirmed a “hold” rating and set a $118.00 target price (up from $105.00) on shares of Southern Copper in a research note on Friday, October 17th. UBS Group reiterated a “buy” rating on shares of Southern Copper in a research note on Friday, September 19th. The Goldman Sachs Group restated a “sell” rating and set a $115.00 price objective (up previously from $89.00) on shares of Southern Copper in a research report on Wednesday, October 29th. Finally, JPMorgan Chase & Co. lifted their target price on Southern Copper from $92.00 to $114.50 and gave the stock a “neutral” rating in a report on Monday, October 27th. Two investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Southern Copper currently has an average rating of “Reduce” and a consensus price target of $117.94.

Institutional Investors Weigh In On Southern Copper

Several hedge funds and other institutional investors have recently made changes to their positions in SCCO. MJT & Associates Financial Advisory Group Inc. boosted its stake 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 during the period. Covestor Ltd lifted its stake in Southern Copper by 30.4% in the third quarter. Covestor Ltd now owns 360 shares of the basic materials company’s stock worth $44,000 after purchasing an additional 84 shares during the last quarter. Avanza Fonder AB lifted its stake in Southern Copper by 1.0% in the third quarter. Avanza Fonder AB now owns 8,663 shares of the basic materials company’s stock worth $1,051,000 after purchasing an additional 86 shares during the last quarter. Redwood Wealth Management Group LLC boosted its position in shares of Southern Copper by 1.5% during the third quarter. Redwood Wealth Management Group LLC now owns 5,999 shares of the basic materials company’s stock valued at $728,000 after buying an additional 89 shares during the period. Finally, Convergence Investment Partners LLC grew its stake in shares of Southern Copper by 0.7% during the third quarter. Convergence Investment Partners LLC now owns 13,743 shares of the basic materials company’s stock valued at $1,668,000 after buying an additional 98 shares during the last quarter. 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.