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

Southern Copper Corporation (NYSE:SCCO) Director Bonilla Luis Miguel Palomino sold 100 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $178.20, for a total value of $17,820.00. Following the transaction, the director directly owned 2,007 shares in the company, valued at approximately $357,647.40. This trade represents a 4.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Friday, March 13th, Bonilla Luis Miguel Palomino sold 193 shares of Southern Copper stock. The stock was sold at an average price of $174.60, for a total value of $33,697.80.
• On Thursday, March 12th, Bonilla Luis Miguel Palomino sold 7 shares of Southern Copper stock. The stock was sold at an average price of $190.00, for a total value of $1,330.00.

Southern Copper Stock Down 1.7%

SCCO stock opened at $169.02 on Wednesday. The stock’s 50 day simple moving average is $178.49 and its 200 day simple moving average is $168.79. Southern Copper Corporation has a fifty-two week low of $88.73 and a fifty-two week high of $223.88. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.89 and a current ratio of 4.38. The company has a market cap of $138.45 billion, a P/E ratio of 27.94, a price-to-earnings-growth ratio of 1.69 and a beta of 1.07.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.88 by $0.04. Southern Copper had a return on equity of 45.63% and a net margin of 34.13%.The business had revenue of $4.25 billion for the quarter, compared to the consensus estimate of $3.96 billion. On average, research analysts expect that Southern Copper Corporation will post 6.97 earnings per share for the current fiscal year.

Southern Copper Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Wednesday, May 13th will be paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Wednesday, May 13th. Southern Copper’s dividend payout ratio is 66.12%.

Hedge Funds Weigh In On Southern Copper

Several institutional investors and hedge funds have recently bought and sold shares of SCCO. Royal Bank of Canada grew its holdings in Southern Copper by 42.1% during the first quarter. Royal Bank of Canada now owns 44,879 shares of the basic materials company’s stock valued at $4,194,000 after purchasing an additional 13,293 shares during the period. Empowered Funds LLC grew its holdings in Southern Copper by 17.9% during the first quarter. Empowered Funds LLC now owns 6,705 shares of the basic materials company’s stock valued at $627,000 after purchasing an additional 1,020 shares during the period. Focus Partners Wealth grew its holdings in Southern Copper by 21.5% during the first quarter. Focus Partners Wealth now owns 5,944 shares of the basic materials company’s stock valued at $556,000 after purchasing an additional 1,052 shares during the period. First Trust Advisors LP grew its holdings in Southern Copper by 37.4% during the second quarter. First Trust Advisors LP now owns 73,379 shares of the basic materials company’s stock valued at $7,424,000 after purchasing an additional 19,957 shares during the period. Finally, Baird Financial Group Inc. grew its holdings in Southern Copper by 17.7% during the second quarter. Baird Financial Group Inc. now owns 4,864 shares of the basic materials company’s stock valued at $492,000 after purchasing an additional 731 shares during the period. 7.94% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. The Goldman Sachs Group upgraded Southern Copper from a “sell” rating to a “neutral” rating and set a $178.00 target price on the stock in a report on Friday, April 10th. JPMorgan Chase & Co. raised their target price on Southern Copper from $117.50 to $127.00 and gave the company an “underweight” rating in a report on Friday, April 10th. UBS Group dropped their target price on Southern Copper from $150.00 to $140.00 and set a “sell” rating on the stock in a report on Friday, March 27th. Wall Street Zen lowered Southern Copper from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Bank of America lowered Southern Copper from a “neutral” rating to an “underperform” rating and raised their target price for the company from $162.00 to $175.00 in a report on Thursday, February 26th. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and seven have given a Sell rating to the company. Based on data from MarketBeat.com, Southern Copper has a consensus rating of “Reduce” and an average price target of $144.43.

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.