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

Southern Copper Co. (NYSE:SCCO) Director Bonilla Luis Miguel Palomino sold 100 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $105.13, for a total transaction of $10,513.00. Following the sale, the director now owns 2,414 shares in the company, valued at $253,783.82. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Thursday, August 8th, Bonilla Luis Miguel Palomino sold 100 shares of Southern Copper stock. The shares were sold at an average price of $99.60, for a total value of $9,960.00.
• On Wednesday, June 12th, Bonilla Luis Miguel Palomino sold 100 shares of Southern Copper stock. The stock was sold at an average price of $110.00, for a total value of $11,000.00.

Southern Copper Trading Down 0.3 %

NYSE:SCCO traded down $0.34 during trading hours on Thursday, hitting $100.52. The company had a trading volume of 105,973 shares, compared to its average volume of 1,163,621. Southern Copper Co. has a 1 year low of $68.93 and a 1 year high of $129.79. The company has a market cap of $78.52 billion, a P/E ratio of 33.50, a P/E/G ratio of 1.06 and a beta of 1.20. The company has a 50-day moving average of $106.64 and a 200 day moving average of $105.76. The company has a current ratio of 2.81, a quick ratio of 2.27 and a debt-to-equity ratio of 0.67.

Southern Copper (NYSE:SCCO) last released its quarterly earnings results on Friday, July 19th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.09. The business had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $2.96 billion. Southern Copper had a net margin of 26.15% and a return on equity of 34.98%. Sell-side analysts expect that Southern Copper Co. will post 4.33 earnings per share for the current year.

Southern Copper Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.40 annualized dividend and a dividend yield of 2.39%. Southern Copper’s dividend payout ratio is currently 79.73%.

Analyst Ratings Changes

Several research firms have weighed in on SCCO. UBS Group initiated coverage on Southern Copper in a research note on Friday, July 12th. They issued a “neutral” rating and a $120.00 price target for the company. Morgan Stanley raised their target price on shares of Southern Copper from $81.70 to $100.00 and gave the company an “underweight” rating in a report on Friday, June 21st. Scotiabank lowered their price objective on shares of Southern Copper from $55.00 to $54.00 and set a “sector underperform” rating for the company in a research report on Tuesday, May 21st. Finally, StockNews.com raised shares of Southern Copper from a “hold” rating to a “buy” rating in a report on Wednesday, May 15th. Five analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $89.57.

Institutional Investors Weigh In On Southern Copper

A number of institutional investors and hedge funds have recently bought and sold shares of SCCO. Price T Rowe Associates Inc. MD increased its position in Southern Copper by 18.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,771,332 shares of the basic materials company’s stock worth $827,804,000 after purchasing an additional 1,192,111 shares during the period. Fisher Asset Management LLC lifted its position in Southern Copper by 1.2% during the fourth quarter. Fisher Asset Management LLC now owns 3,349,984 shares of the basic materials company’s stock worth $288,333,000 after buying an additional 39,422 shares during the period. Capital World Investors purchased a new position in Southern Copper during the first quarter worth approximately $340,373,000. Mirae Asset Global Investments Co. Ltd. grew its position in Southern Copper by 54.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,541,396 shares of the basic materials company’s stock valued at $164,190,000 after acquiring an additional 544,312 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in Southern Copper by 1.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,014,356 shares of the basic materials company’s stock worth $87,306,000 after buying an additional 18,883 shares in the last quarter. 7.94% of the stock is owned by hedge funds and other institutional investors.

Southern Copper Company Profile

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.