Insider Selling: Southern Copper (NYSE:SCCO) Director Sells $20,000.00 in Stock

Southern Copper Corporation (NYSE:SCCO) Director Luis Palomino Bonilla sold 100 shares of the business’s stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $200.00, for a total value of $20,000.00. Following the transaction, the director directly owned 1,603 shares in the company, valued at approximately $320,600. This represents a 5.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• On Tuesday, August 4th, Luis Palomino Bonilla sold 101 shares of Southern Copper stock. The stock was sold at an average price of $192.69, for a total value of $19,461.46.
• On Wednesday, August 5th, Luis Palomino Bonilla sold 202 shares of Southern Copper stock. The stock was sold at an average price of $196.79, for a total value 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 Trading Up 6.9%

SCCO stock traded up $13.80 during mid-day trading on Tuesday, reaching $212.56. 439,597 shares of the stock traded hands, compared to its average volume of 1,605,077. Southern Copper Corporation has a one year low of $99.87 and a one year high of $223.88. The stock has a market capitalization of $177.34 billion, a PE ratio of 31.00, a PEG ratio of 1.83 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 business has a 50-day moving average price of $188.08 and a two-hundred day moving average price of $184.04.

Southern Copper (NYSE:SCCO) last released its earnings results on Wednesday, July 22nd. The basic materials company reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.93 by $0.06. Southern Copper had a net margin of 35.87% and a return on equity of 49.04%. The firm had revenue of $4.29 billion during the quarter, compared to analyst estimates of $4.37 billion. The company’s revenue for the quarter was up 40.6% compared to the same quarter last year. Equities research analysts expect that Southern Copper Corporation will post 7.59 EPS for the current year.

Southern Copper Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 27th. Shareholders of record on Tuesday, August 11th were paid a $1.10 dividend. The ex-dividend date of this dividend was Tuesday, August 11th. This is an increase from Southern Copper’s previous quarterly dividend of $1.00. This represents a $4.40 annualized dividend and a yield of 2.1%. Southern Copper’s payout ratio is 64.33%.

Institutional Trading of Southern Copper

Several institutional investors and hedge funds have recently modified their holdings of SCCO. SHP Wealth Management bought a new position in Southern Copper in the fourth quarter worth approximately $25,000. Bell Investment Advisors Inc acquired a new position in Southern Copper in the second quarter valued at approximately $26,000. Rakuten Securities Inc. purchased a new position in shares of Southern Copper during the 2nd quarter valued at approximately $28,000. Lloyd Advisory Services LLC. acquired a new position in shares of Southern Copper in the 4th quarter valued at $29,000. Finally, Virtus Advisers LLC acquired a new position in shares of Southern Copper in the 4th quarter valued at $29,000. Institutional investors own 7.94% of the company’s stock.

Analyst Upgrades and Downgrades

SCCO has been the subject of a number of research analyst reports. Citigroup reissued a “positive” rating on shares of Southern Copper in a research note on Wednesday, July 15th. Zacks Research lowered Southern Copper from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 7th. Weiss Ratings upgraded Southern Copper from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, July 28th. Scotiabank reissued an “underperform” rating and set a $138.34 target price (up from $133.40) on shares of Southern Copper in a research note on Monday, June 15th. Finally, CICC Research cut shares of Southern Copper to a “market perform” rating in a report on Sunday, July 26th. Three equities 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, the stock currently has an average rating of “Reduce” and an average price target of $146.84.

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.