Southern Copper (NYSE:SCCO) Director Bonilla Luis Miguel Palomino Sells 148 Shares of Stock

Southern Copper Corporation (NYSE:SCCO) Director Bonilla Luis Miguel Palomino sold 148 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $140.00, for a total value of $20,720.00. Following the completion of the sale, the director owned 1,665 shares in the company, valued at approximately $233,100. This represents a 8.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Thursday, November 6th, Bonilla Luis Miguel Palomino sold 100 shares of Southern Copper stock. The shares were sold at an average price of $137.50, for a total transaction of $13,750.00.
• 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 transaction of $13,190.00.
• On Friday, October 31st, Bonilla Luis Miguel Palomino sold 200 shares of Southern Copper stock. The shares were 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 value of $21,614.00.

Southern Copper Price Performance

Southern Copper stock traded down $3.30 during trading on Thursday, reaching $133.48. The company had a trading volume of 297,773 shares, compared to its average volume of 1,474,708. The firm has a market capitalization of $108.41 billion, a PE ratio of 27.94, a price-to-earnings-growth ratio of 1.29 and a beta of 1.08. The firm’s 50-day simple moving average is $123.95 and its 200 day simple moving average is $105.64. The company has a debt-to-equity ratio of 0.67, a quick ratio of 4.51 and a current ratio of 5.27. Southern Copper Corporation has a 1-year low of $74.84 and a 1-year high of $144.81.

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

Southern Copper Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Wednesday, November 12th will be given a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Wednesday, November 12th. Southern Copper’s dividend payout ratio (DPR) is 75.47%.

Institutional Investors Weigh In On Southern Copper

A number of institutional investors and hedge funds have recently modified their holdings of the company. Cullen Frost Bankers Inc. grew its position in shares of Southern Copper by 117.6% in the first quarter. Cullen Frost Bankers Inc. now owns 272 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 147 shares during the last quarter. Hopwood Financial Services Inc. purchased a new stake in Southern Copper in the 3rd quarter valued at approximately $25,000. MJT & Associates Financial Advisory Group Inc. grew its holdings in 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 valued at $26,000 after buying an additional 84 shares during the last quarter. Tobam purchased a new position in Southern Copper during the second quarter worth $29,000. Finally, United Community Bank purchased a new position in Southern Copper during the third quarter worth $30,000. Institutional investors and hedge funds own 7.94% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on SCCO shares. Zacks Research raised Southern Copper from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 7th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Southern Copper in a report on Wednesday, October 8th. HSBC reissued a “hold” rating and issued a $118.00 price objective (up from $105.00) on shares of Southern Copper in a research report on Friday, October 17th. Wall Street Zen raised Southern Copper from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Finally, The Goldman Sachs Group reiterated a “sell” rating and set a $115.00 target price (up previously from $89.00) on shares of Southern Copper in a research report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Southern Copper currently has an average rating of “Hold” and a consensus target price of $117.94.

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.