Southern Copper Co. (NYSE:SCCO) Director Sells $35,550.00 in Stock

Southern Copper Co. (NYSE:SCCO) Director Bonilla Luis Miguel Palomino sold 300 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $118.50, for a total value of $35,550.00. Following the completion of the sale, the director now owns 4,614 shares in the company, valued at $546,759. The transaction 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 Wednesday, April 3rd, Bonilla Luis Miguel Palomino sold 100 shares of Southern Copper stock. The shares were sold at an average price of $110.20, for a total value of $11,020.00.
• On Wednesday, March 13th, Bonilla Luis Miguel Palomino sold 100 shares of Southern Copper stock. The shares were sold at an average price of $87.10, for a total value of $8,710.00.
• On Monday, March 4th, Bonilla Luis Miguel Palomino sold 100 shares of Southern Copper stock. The shares were sold at an average price of $81.50, for a total value of $8,150.00.

Southern Copper Stock Performance

Shares of Southern Copper stock opened at $115.14 on Thursday. The stock has a market cap of $89.02 billion, a PE ratio of 37.88, a price-to-earnings-growth ratio of 3.46 and a beta of 1.29. The business has a fifty day simple moving average of $101.87 and a 200-day simple moving average of $86.56. The company has a quick ratio of 2.46, a current ratio of 3.19 and a debt-to-equity ratio of 0.84. Southern Copper Co. has a 12 month low of $64.66 and a 12 month high of $121.00.

Southern Copper (NYSE:SCCO) last issued its earnings results on Friday, February 2nd. The basic materials company reported $0.58 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.15). The business had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.37 billion. Southern Copper had a return on equity of 30.29% and a net margin of 24.20%. On average, sell-side analysts anticipate that Southern Copper Co. will post 3.95 EPS for the current fiscal year.

Southern Copper Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Wednesday, May 8th will be given a $0.01 dividend. The ex-dividend date is Tuesday, May 7th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. Southern Copper’s dividend payout ratio (DPR) is presently 105.26%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SCCO. Morgan Stanley lifted their price target on Southern Copper from $123.00 to $135.00 and gave the company an “underweight” rating in a research report on Tuesday. CICC Research started coverage on Southern Copper in a research report on Wednesday, April 24th. They set an “outperform” rating on the stock. Scotiabank raised their price objective on Southern Copper from $53.00 to $55.00 and gave the stock a “sector underperform” rating in a research note on Thursday, April 18th. StockNews.com raised Southern Copper from a “hold” rating to a “buy” rating in a research note on Monday. Finally, HSBC lowered Southern Copper from a “hold” rating to a “reduce” rating and set a $80.00 price objective for the company. in a research note on Monday, April 22nd. Five analysts have rated the stock with a sell rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Southern Copper has an average rating of “Hold” and an average target price of $85.57.

Institutional Trading of Southern Copper

Several hedge funds and other institutional investors have recently modified their holdings of the business. Nilsine Partners LLC boosted its position in shares of Southern Copper by 1.9% in the first quarter. Nilsine Partners LLC now owns 5,719 shares of the basic materials company’s stock worth $609,000 after buying an additional 109 shares during the period. Wahed Invest LLC boosted its position in Southern Copper by 9.0% during the fourth quarter. Wahed Invest LLC now owns 1,451 shares of the basic materials company’s stock valued at $125,000 after purchasing an additional 120 shares during the last quarter. Janiczek Wealth Management LLC boosted its position in Southern Copper by 11.5% during the fourth quarter. Janiczek Wealth Management LLC now owns 1,227 shares of the basic materials company’s stock valued at $106,000 after purchasing an additional 127 shares during the last quarter. CWM LLC boosted its position in Southern Copper by 3.3% during the fourth quarter. CWM LLC now owns 4,329 shares of the basic materials company’s stock valued at $373,000 after purchasing an additional 137 shares during the last quarter. Finally, First National Trust Co boosted its position in Southern Copper by 0.4% during the fourth quarter. First National Trust Co now owns 37,134 shares of the basic materials company’s stock valued at $3,196,000 after purchasing an additional 150 shares during the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

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, copper, molybdenum, silver, gold, and lead.