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 business’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $195.00, for a total transaction of $19,500.00. Following the completion of the transaction, the director directly owned 1,903 shares in the company, valued at $371,085. This represents a 4.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Wednesday, August 5th, Bonilla Luis Miguel Palomino sold 200 shares of Southern Copper stock. The stock was sold at an average price of $199.15, for a total transaction of $39,830.00.
• On Friday, July 24th, Bonilla Luis Miguel Palomino sold 100 shares of Southern Copper stock. The shares were sold at an average price of $179.00, for a total transaction of $17,900.00.
• 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 transaction 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 transaction of $17,820.00.

Southern Copper Price Performance

Shares of SCCO opened at $197.27 on Thursday. The company has a current ratio of 5.06, a quick ratio of 3.89 and a debt-to-equity ratio of 0.63. The stock’s 50 day moving average is $181.74 and its two-hundred day moving average is $184.51. Southern Copper Corporation has a twelve month low of $92.57 and a twelve month high of $223.88. The firm has a market capitalization of $162.96 billion, a PE ratio of 28.84, a P/E/G ratio of 1.68 and a beta of 1.11.

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

Southern Copper (NYSE:SCCO) last posted its quarterly earnings results on Wednesday, July 22nd. The basic materials company reported $2.01 EPS for the quarter, beating the consensus estimate of $1.95 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 during the quarter, compared to analysts’ expectations of $4.37 billion. Southern Copper’s quarterly revenue was up 40.6% compared to the same quarter last year. Research analysts anticipate that Southern Copper Corporation will post 7.63 earnings per share for the current year.

Southern Copper Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Tuesday, August 11th will be given a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Tuesday, August 11th. This is an increase from Southern Copper’s previous quarterly dividend of $1.00. Southern Copper’s payout ratio is presently 64.33%.

Wall Street Analysts Forecast Growth

SCCO has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their price objective on shares of Southern Copper from $171.00 to $172.00 and gave the stock an “equal weight” rating in a report on Thursday, July 9th. Scotiabank restated an “underperform” rating and issued a $140.00 price target (up from $135.00) on shares of Southern Copper in a report on Monday, June 15th. JPMorgan Chase & Co. raised their price objective on Southern Copper from $127.00 to $131.50 and gave the company an “underweight” rating in a research note on Wednesday, June 17th. The Goldman Sachs Group raised Southern Copper from a “sell” rating to a “neutral” rating and set a $178.00 price objective for the company in a report on Friday, April 10th. Finally, Morgan Stanley boosted their target price on Southern Copper from $146.00 to $158.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 8th. 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 assigned a Sell rating to the company’s stock. According to MarketBeat, Southern Copper presently has an average rating of “Reduce” and an average price target of $148.60.

Institutional Trading of Southern Copper

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