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

Southern Copper Corporation (NYSE:SCCO) Director Luis Palomino Bonilla sold 100 shares of the business’s stock in a transaction that occurred on Thursday, September 24th. The shares were sold at an average price of $200.00, for a total value of $20,000.00. Following the completion of the transaction, the director directly owned 1,503 shares in the company, valued at approximately $300,600. The trade was a 6.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Tuesday, September 8th, Luis Palomino Bonilla sold 100 shares of Southern Copper stock. The stock was sold at an average price of $210.00, for a total value of $21,000.00.
• On Friday, September 4th, Luis Palomino Bonilla sold 100 shares of Southern Copper stock. The stock was sold at an average price of $200.00, for a total value of $20,000.00.
• On Tuesday, August 4th, Luis Palomino Bonilla sold 101 shares of Southern Copper stock. The shares were sold at an average price of $192.69, for a total transaction of $19,461.46.
• On Wednesday, August 5th, Luis Palomino Bonilla sold 202 shares of Southern Copper stock. The shares were sold at an average price of $196.79, for a total transaction of $39,751.28.
• On Friday, July 24th, Luis Palomino Bonilla sold 101 shares of Southern Copper stock. The stock was sold at an average price of $176.88, for a total transaction of $17,864.62.

Southern Copper Stock Up 1.1%

Shares of Southern Copper stock opened at $203.84 on Friday. Southern Copper Corporation has a one year low of $116.93 and a one year high of $223.88. The company has a market cap of $170.07 billion, a P/E ratio of 29.80, a PEG ratio of 1.80 and a beta of 1.14. The company has a debt-to-equity ratio of 0.63, a quick ratio of 4.56 and a current ratio of 5.06. The firm has a fifty day moving average of $195.51 and a two-hundred day moving average of $183.77.

Southern Copper (NYSE:SCCO) last issued its earnings results on Wednesday, July 22nd. The basic materials company reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.93 by $0.06. The business had revenue of $4.29 billion for the quarter, compared to the consensus estimate of $4.37 billion. Southern Copper had a net margin of 35.87% and a return on equity of 49.04%. The company’s revenue was up 40.6% on a year-over-year basis. On average, analysts forecast that Southern Copper Corporation will post 7.83 earnings per share for the current year.

Southern Copper Increases Dividend

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

Institutional Investors Weigh In On Southern Copper

A number of large investors have recently added to or reduced their stakes in SCCO. Fund Advisors of America Inc FL purchased a new stake in Southern Copper in the 2nd quarter valued at approximately $870,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Southern Copper during the second quarter worth $1,078,000. HighTower Advisors LLC increased its position in Southern Copper by 11.9% during the second quarter. HighTower Advisors LLC now owns 58,421 shares of the basic materials company’s stock worth $10,180,000 after buying an additional 6,195 shares in the last quarter. RFG Advisory LLC raised its holdings in shares of Southern Copper by 143.7% in the second quarter. RFG Advisory LLC now owns 21,727 shares of the basic materials company’s stock worth $3,786,000 after acquiring an additional 12,811 shares during the last quarter. Finally, Equitable Holdings Inc. acquired a new position in shares of Southern Copper in the second quarter worth $505,000. 7.94% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Weiss Ratings upgraded Southern Copper from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, July 28th. Morgan Stanley raised their target price on Southern Copper from $144.27 to $156.13 and gave the company an “underweight” rating in a report on Wednesday, July 8th. Wells Fargo & Company boosted their target price on shares of Southern Copper from $168.97 to $169.96 and gave the stock an “equal weight” rating in a research report on Thursday, July 9th. Citigroup reaffirmed a “positive” rating on shares of Southern Copper in a research note on Wednesday, July 15th. Finally, Scotiabank reiterated an “underperform” rating and issued a $138.34 price target (up from $133.40) on shares of Southern Copper in a report on Monday, June 15th. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and seven have given a Sell rating to the company’s stock. According to MarketBeat.com, Southern Copper has a consensus rating of “Reduce” and a consensus target price of $146.84.

About Southern Copper

Southern Copper Corporation (NYSE: SCCO) is an integrated copper producer engaged in the exploration, mining, processing, smelting and refining of minerals. The company produces copper in the form of cathodes, concentrates and anodes, along with byproducts including molybdenum, zinc, silver, lead and sulfuric acid.

Southern Copper operates mining and processing facilities in Mexico and Peru. Its principal Mexican operations include the Buenavista del Cobre and La Caridad mining complexes, while its Peruvian operations include the Toquepala and Cuajone mines and the Ilo smelter and refinery.