Bonilla Luis Miguel Palomino Sells 3,000 Shares of Southern Copper Co. (NYSE:SCCO) Stock

Southern Copper Co. (NYSE:SCCO) Director Bonilla Luis Miguel Palomino sold 3,000 shares of the business’s stock in a transaction dated Tuesday, June 8th. The stock was sold at an average price of $68.72, for a total value of $206,160.00. Following the completion of the sale, the director now directly owns 6,414 shares of the company’s stock, valued at approximately $440,770.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Shares of SCCO opened at $66.98 on Friday. Southern Copper Co. has a 12-month low of $35.45 and a 12-month high of $83.29. The company has a quick ratio of 3.02, a current ratio of 3.66 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $51.78 billion, a price-to-earnings ratio of 24.45, a price-to-earnings-growth ratio of 0.83 and a beta of 1.10. The firm’s 50-day moving average price is $71.98.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings results on Saturday, May 1st. The basic materials company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.10. Southern Copper had a return on equity of 29.44% and a net margin of 24.09%. The firm had revenue of $2.53 billion for the quarter. On average, equities research analysts expect that Southern Copper Co. will post 4.41 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 25th. Investors of record on Tuesday, May 11th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 4.18%. This is a positive change from Southern Copper’s previous quarterly dividend of $0.60. The ex-dividend date was Monday, May 10th. Southern Copper’s payout ratio is currently 137.93%.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Schroder Investment Management Group bought a new position in Southern Copper during the first quarter valued at about $4,441,000. Principal Financial Group Inc. increased its stake in Southern Copper by 22.9% during the first quarter. Principal Financial Group Inc. now owns 84,386 shares of the basic materials company’s stock valued at $5,727,000 after acquiring an additional 15,720 shares during the period. Stonnington Group LLC bought a new stake in shares of Southern Copper in the 1st quarter valued at approximately $1,222,000. BNC Wealth Management LLC bought a new stake in shares of Southern Copper in the 1st quarter valued at approximately $2,093,000. Finally, Paloma Partners Management Co grew its stake in shares of Southern Copper by 493.7% in the 1st quarter. Paloma Partners Management Co now owns 74,360 shares of the basic materials company’s stock valued at $5,046,000 after purchasing an additional 61,835 shares during the period. Hedge funds and other institutional investors own 7.69% of the company’s stock.

SCCO has been the subject of a number of analyst reports. Citigroup raised Southern Copper from a “sell” rating to a “neutral” rating and set a $70.00 price target for the company in a research report on Tuesday, February 16th. UBS Group boosted their price objective on Southern Copper from $60.00 to $65.00 and gave the stock a “sell” rating in a research report on Monday, April 26th. Finally, Zacks Investment Research raised Southern Copper from a “hold” rating to a “strong-buy” rating and set a $76.00 price objective for the company in a research report on Friday, March 26th. Five equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $53.19.

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 and lead.

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