Bonilla Luis Miguel Palomino Sells 200 Shares of Southern Copper (NYSE:SCCO) Stock

Southern Copper Corporation (NYSE:SCCO) Director Bonilla Luis Miguel Palomino sold 200 shares of the company’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $199.15, for a total value of $39,830.00. Following the transaction, the director directly owned 1,703 shares in the company, valued at $339,152.45. This represents a 10.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Tuesday, August 4th, Bonilla Luis Miguel Palomino sold 100 shares of Southern Copper stock. The stock was sold at an average price of $195.00, for a total value of $19,500.00.
• On Friday, July 24th, Bonilla Luis Miguel Palomino sold 100 shares of Southern Copper stock. The stock was sold at an average price of $179.00, for a total value of $17,900.00.
• On Friday, June 5th, Bonilla Luis Miguel Palomino sold 4 shares of Southern Copper stock. The stock was sold at an average price of $181.00, for a total value of $724.00.
• On Tuesday, June 2nd, Bonilla Luis Miguel Palomino sold 100 shares of Southern Copper stock. The shares were sold at an average price of $200.00, for a total transaction of $20,000.00.
• On Thursday, May 21st, Bonilla Luis Miguel Palomino sold 200 shares of Southern Copper stock. The shares were sold at an average price of $177.82, for a total transaction of $35,564.00.
• On Friday, May 15th, Bonilla Luis Miguel Palomino sold 100 shares of Southern Copper stock. The shares were sold at an average price of $178.20, for a total transaction of $17,820.00.

Southern Copper Stock Down 1.8%

SCCO stock opened at $193.42 on Friday. The stock has a market capitalization of $159.78 billion, a PE ratio of 28.28, a price-to-earnings-growth ratio of 1.69 and a beta of 1.11. Southern Copper Corporation has a 52 week low of $92.57 and a 52 week high of $223.88. The company has a quick ratio of 3.89, a current ratio of 5.06 and a debt-to-equity ratio of 0.63. The firm has a 50 day moving average of $181.69 and a 200 day moving average of $184.61.

Southern Copper shares are scheduled to split before the market opens on Tuesday, August 11th. The 1.012-1 split was recently announced. The newly minted shares will be payable to shareholders after the market closes on Monday, August 10th.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings results on Wednesday, July 22nd. The basic materials company reported $2.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.95 by $0.06. Southern Copper had a net margin of 35.87% and a return on equity of 49.04%. The business had revenue of $4.29 billion for the quarter, compared to analyst estimates of $4.37 billion. The company’s revenue was up 40.6% compared to the same quarter last year. Sell-side analysts forecast that Southern Copper Corporation will post 7.63 earnings per share for the current year.

Southern Copper Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Tuesday, August 11th will be paid a $1.10 dividend. This is a positive change from Southern Copper’s previous quarterly dividend of $1.00. The ex-dividend date is Tuesday, August 11th. This represents a $4.40 dividend on an annualized basis and a yield of 2.3%. Southern Copper’s dividend payout ratio (DPR) is 58.48%.

Hedge Funds Weigh In On Southern Copper

A number of institutional investors have recently modified their holdings of SCCO. Chase Investment Counsel Corp purchased a new stake in shares of Southern Copper in the second quarter worth about $705,000. N.E.W. Advisory Services LLC purchased a new position in Southern Copper during the second quarter valued at approximately $160,000. HBK Sorce Advisory LLC acquired a new position in Southern Copper in the second quarter valued at approximately $742,000. Global Retirement Partners LLC acquired a new position in Southern Copper in the second quarter valued at approximately $592,000. Finally, Bank of New York Mellon Corp purchased a new stake in Southern Copper in the 2nd quarter worth approximately $56,421,000. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on SCCO shares. Citigroup reissued a “positive” rating on shares of Southern Copper in a report on Wednesday, July 15th. Weiss Ratings raised Southern Copper from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, July 28th. Zacks Research upgraded Southern Copper from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 9th. Scotiabank reiterated an “underperform” rating and issued a $140.00 target price (up from $135.00) on shares of Southern Copper in a research report on Monday, June 15th. Finally, Wall Street Zen downgraded shares of Southern Copper from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have given a Hold rating and seven have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $148.60.

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.