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

Southern Copper Corporation (NYSE:SCCO) Director Bonilla Luis Miguel Palomino sold 100 shares of Southern Copper stock in a transaction on Friday, July 24th. The shares were sold at an average price of $179.00, for a total transaction of $17,900.00. Following the completion of the sale, the director directly owned 1,603 shares of the company’s stock, valued at approximately $286,937. This trade represents a 5.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Friday, June 5th, Bonilla Luis Miguel Palomino sold 4 shares of Southern Copper stock. The stock was sold at an average price of $181.00, for a total transaction of $724.00.
• On Tuesday, June 2nd, Bonilla Luis Miguel Palomino 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 Thursday, May 21st, Bonilla Luis Miguel Palomino sold 200 shares of Southern Copper stock. The shares were sold at an average price of $177.82, for a total value of $35,564.00.
• On Friday, May 15th, Bonilla Luis Miguel Palomino sold 100 shares of Southern Copper stock. The shares were sold at an average price of $178.20, for a total value of $17,820.00.

Southern Copper Stock Performance

Shares of Southern Copper stock opened at $175.20 on Thursday. The business has a 50-day simple moving average of $181.13 and a 200 day simple moving average of $184.02. Southern Copper Corporation has a one year low of $88.73 and a one year high of $223.88. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.38 and a quick ratio of 3.89. The firm has a market capitalization of $144.72 billion, a price-to-earnings ratio of 25.61, a PEG ratio of 1.54 and a beta of 1.11.

Southern Copper shares are going to split before the market opens on Tuesday, August 11th. The 1.012-1 split was recently announced. The newly minted shares will be issued to shareholders after the closing bell on Monday, August 10th.

Southern Copper (NYSE:SCCO) last announced its quarterly earnings results on Wednesday, July 22nd. The basic materials company reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.06. Southern Copper had a return on equity of 50.74% and a net margin of 35.87%.The business had revenue of $4.29 billion for the quarter, compared to analyst estimates of $4.37 billion. The company’s revenue was up 40.6% on a year-over-year basis. On average, research analysts anticipate that Southern Copper Corporation will post 7.63 earnings per share for the current fiscal year.

Southern Copper Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Tuesday, August 11th will be given a dividend of $1.10 per share. The ex-dividend date of this dividend is Tuesday, August 11th. This is a positive change from Southern Copper’s previous quarterly dividend of $1.00. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.5%. Southern Copper’s payout ratio is currently 58.48%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SCCO. JPMorgan Chase & Co. lifted their price target on shares of Southern Copper from $127.00 to $131.50 and gave the company an “underweight” rating in a research report on Wednesday, June 17th. Wells Fargo & Company raised their price objective on shares of Southern Copper from $171.00 to $172.00 and gave the company an “equal weight” rating in a research note on Thursday, July 9th. Weiss Ratings upgraded shares of Southern Copper from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday. Citigroup reiterated a “positive” rating on shares of Southern Copper in a report on Wednesday, July 15th. Finally, Barclays set a $166.00 target price on shares of Southern Copper and gave the stock an “underweight” rating in a research report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have given a Hold rating and seven have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $148.60.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. SHP Wealth Management bought a new position in Southern Copper during the 4th quarter valued at $25,000. Lloyd Advisory Services LLC. purchased a new position in Southern Copper during the 4th quarter worth $29,000. Virtus Advisers LLC bought a new stake in shares of Southern Copper in the 4th quarter worth $29,000. Godfrey Financial Associates Inc. bought a new stake in shares of Southern Copper in the 4th quarter worth $30,000. Finally, IFP Advisors Inc raised its holdings in shares of Southern Copper by 233.3% in the fourth quarter. IFP Advisors Inc now owns 230 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 161 shares during the last quarter. Hedge funds and other institutional investors own 7.94% of the company’s stock.

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.