Southern Copper (NYSE:SCCO) Director Sells $39,830.00 in Stock

Southern Copper Corporation (NYSE:SCCO) Director Bonilla Luis Miguel Palomino sold 200 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $199.15, for a total transaction of $39,830.00. Following the transaction, the director owned 1,703 shares in the company, valued at approximately $339,152.45. This trade represents a 10.51% decrease in their ownership of the stock. The sale 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, 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 transaction 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 transaction of $17,900.00.
• On Friday, June 5th, Bonilla Luis Miguel Palomino sold 4 shares of Southern Copper stock. The shares were sold at an average price of $181.00, for a total transaction 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 stock was sold at an average price of $178.20, for a total transaction of $17,820.00.

Southern Copper Stock Performance

SCCO stock traded up $2.11 during trading on Wednesday, hitting $197.27. The company had a trading volume of 1,281,125 shares, compared to its average volume of 1,685,564. The firm has a market cap of $162.96 billion, a PE ratio of 28.84, a price-to-earnings-growth ratio of 1.60 and a beta of 1.11. Southern Copper Corporation has a 1-year low of $92.57 and a 1-year high of $223.88. The firm has a 50-day moving average price of $181.54 and a 200-day moving average price of $184.40. The company has a quick ratio of 3.89, a current ratio of 5.06 and a debt-to-equity ratio of 0.63.

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

Southern Copper (NYSE:SCCO) last posted its quarterly earnings data on Wednesday, July 22nd. The basic materials company reported $2.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $0.06. Southern Copper had a return on equity of 49.04% and a net margin of 35.87%.The company had revenue of $4.29 billion during the quarter, compared to analysts’ expectations of $4.37 billion. The firm’s revenue was up 40.6% compared to the same quarter last year. On average, analysts expect that Southern Copper Corporation will post 7.63 earnings per share for the current year.

Southern Copper Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Tuesday, August 11th will be paid a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 2.2%. This is a boost from Southern Copper’s previous quarterly dividend of $1.00. The ex-dividend date is Tuesday, August 11th. Southern Copper’s dividend payout ratio (DPR) is currently 58.48%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on SCCO shares. Barclays set a $166.00 price objective on shares of Southern Copper and gave the company an “underweight” rating in a research report on Thursday, July 23rd. CICC Research cut shares of Southern Copper to a “market perform” rating in a report on Sunday, July 26th. Morgan Stanley increased their price target on shares of Southern Copper from $146.00 to $158.00 and gave the stock an “underweight” rating in a report on Wednesday, July 8th. Wells Fargo & Company raised their price objective on shares of Southern Copper from $171.00 to $172.00 and gave the company an “equal weight” rating in a research report on Thursday, July 9th. Finally, JPMorgan Chase & Co. increased their target price on Southern Copper from $127.00 to $131.50 and gave the stock an “underweight” rating in a research note on Wednesday, June 17th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have assigned a Hold rating and seven have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $148.60.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SCCO. SHP Wealth Management acquired a new stake in shares of Southern Copper during the 4th quarter valued at approximately $25,000. Lloyd Advisory Services LLC. acquired a new position in Southern Copper during the fourth quarter worth $29,000. Virtus Advisers LLC purchased a new stake in Southern Copper during the fourth quarter worth $29,000. Godfrey Financial Associates Inc. purchased a new stake in Southern Copper during the fourth quarter worth $30,000. Finally, IFP Advisors Inc grew its holdings in Southern Copper by 233.3% in the fourth quarter. IFP Advisors Inc now owns 230 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 161 shares during the last quarter. 7.94% of the stock is currently owned by institutional investors and hedge funds.

About Southern Copper

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.