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

Southern Copper Corporation (NYSE:SCCO) Director Bonilla Luis Miguel Palomino sold 100 shares of Southern Copper stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $131.90, for a total transaction of $13,190.00. Following the sale, the director directly owned 2,013 shares of the company’s stock, valued at $265,514.70. This trade represents a 4.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Friday, October 31st, Bonilla Luis Miguel Palomino sold 200 shares of Southern Copper stock. The shares were sold at an average price of $139.35, for a total transaction of $27,870.00.
• On Friday, September 12th, Bonilla Luis Miguel Palomino sold 200 shares of Southern Copper stock. The shares were sold at an average price of $105.44, for a total transaction of $21,088.00.
• On Wednesday, September 3rd, Bonilla Luis Miguel Palomino sold 214 shares of Southern Copper stock. The shares were sold at an average price of $101.00, for a total transaction of $21,614.00.
• On Friday, August 8th, Bonilla Luis Miguel Palomino sold 414 shares of Southern Copper stock. The shares were sold at an average price of $100.00, for a total transaction of $41,400.00.
• On Thursday, August 7th, Bonilla Luis Miguel Palomino sold 400 shares of Southern Copper stock. The shares were sold at an average price of $97.50, for a total transaction of $39,000.00.

Southern Copper Trading Down 5.6%

Shares of NYSE:SCCO opened at $130.50 on Wednesday. The firm has a fifty day moving average of $119.10 and a two-hundred day moving average of $103.80. The firm has a market capitalization of $104.93 billion, a P/E ratio of 27.36, a price-to-earnings-growth ratio of 1.29 and a beta of 1.02. Southern Copper Corporation has a 12-month low of $74.84 and a 12-month high of $144.81. The company has a quick ratio of 4.51, a current ratio of 5.27 and a debt-to-equity ratio of 0.67.

Southern Copper (NYSE:SCCO) last issued its earnings results on Tuesday, October 28th. The basic materials company reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.09. Southern Copper had a net margin of 30.98% and a return on equity of 39.62%. The company had revenue of $3.38 billion during the quarter, compared to analyst estimates of $3.05 billion. On average, equities analysts expect that Southern Copper Corporation will post 4.66 EPS for the current fiscal year.

Southern Copper Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Wednesday, November 12th will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 2.8%. The ex-dividend date is Wednesday, November 12th. Southern Copper’s dividend payout ratio (DPR) is 75.47%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Wells Fargo & Company raised their target price on Southern Copper from $121.00 to $137.00 and gave the company an “equal weight” rating in a report on Thursday, October 30th. Jefferies Financial Group set a $155.00 target price on Southern Copper and gave the company a “buy” rating in a report on Monday, October 6th. HSBC restated a “hold” rating and set a $118.00 target price (up from $105.00) on shares of Southern Copper in a report on Friday, October 17th. Citigroup restated a “sell” rating and set a $108.00 target price (up from $89.10) on shares of Southern Copper in a report on Wednesday, October 8th. Finally, UBS Group restated a “buy” rating on shares of Southern Copper in a report on Friday, September 19th. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Southern Copper presently has a consensus rating of “Reduce” and an average target price of $117.94.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. MJT & Associates Financial Advisory Group Inc. lifted its position in Southern Copper by 65.1% during the 3rd quarter. MJT & Associates Financial Advisory Group Inc. now owns 213 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 84 shares during the last quarter. United Community Bank acquired a new position in Southern Copper during the 3rd quarter worth $30,000. Cullen Frost Bankers Inc. lifted its position in Southern Copper by 117.6% during the 1st quarter. Cullen Frost Bankers Inc. now owns 272 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 147 shares during the last quarter. Tobam acquired a new position in Southern Copper during the 2nd quarter worth $29,000. Finally, Golden State Wealth Management LLC acquired a new position in shares of Southern Copper during the first quarter valued at about $29,000. Institutional investors and hedge funds own 7.94% of the company’s stock.

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.