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 firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $200.00, for a total transaction of $20,000.00. Following the completion of the transaction, the director owned 1,707 shares in the company, valued at $341,400. The trade was a 5.53% decrease in their position. 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 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.
• On Friday, March 13th, Bonilla Luis Miguel Palomino sold 193 shares of Southern Copper stock. The shares were sold at an average price of $174.60, for a total transaction of $33,697.80.
• On Thursday, March 12th, Bonilla Luis Miguel Palomino sold 7 shares of Southern Copper stock. The shares were sold at an average price of $190.00, for a total transaction of $1,330.00.

Southern Copper Stock Down 2.1%

Shares of NYSE:SCCO opened at $197.07 on Thursday. The company has a quick ratio of 3.89, a current ratio of 4.38 and a debt-to-equity ratio of 0.57. Southern Copper Corporation has a 52-week low of $88.73 and a 52-week high of $223.88. The company has a 50 day moving average of $181.45 and a two-hundred day moving average of $172.86. The company has a market capitalization of $161.42 billion, a price-to-earnings ratio of 32.57, a price-to-earnings-growth ratio of 1.90 and a beta of 1.09.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings data on Wednesday, April 29th. The basic materials company reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.04. Southern Copper had a net margin of 34.13% and a return on equity of 45.63%. The company had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $3.96 billion. As a group, analysts forecast that Southern Copper Corporation will post 7.25 earnings per share for the current fiscal year.

Southern Copper Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Wednesday, May 13th were given a $1.00 dividend. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $4.00 annualized dividend and a yield of 2.0%. Southern Copper’s dividend payout ratio (DPR) is 66.12%.

Analyst Ratings Changes

Several analysts have issued reports on SCCO shares. UBS Group increased their price objective on shares of Southern Copper from $140.00 to $145.00 and gave the company a “sell” rating in a research report on Thursday, May 21st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Southern Copper in a research report on Friday, March 27th. Wall Street Zen downgraded shares of Southern Copper from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Wells Fargo & Company set a $171.00 price objective on shares of Southern Copper and gave the company an “equal weight” rating in a research report on Friday, May 1st. Finally, JPMorgan Chase & Co. increased their price objective on shares of Southern Copper from $117.50 to $127.00 and gave the company an “underweight” rating in a research report on Friday, April 10th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and eight have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $145.14.

Hedge Funds Weigh In On Southern Copper

Hedge funds have recently added to or reduced their stakes in the business. Intech Investment Management LLC raised its stake in shares of Southern Copper by 0.8% during the fourth quarter. Intech Investment Management LLC now owns 6,030 shares of the basic materials company’s stock valued at $865,000 after purchasing an additional 50 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al raised its stake in shares of Southern Copper by 0.8% during the fourth quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 6,072 shares of the basic materials company’s stock valued at $871,000 after purchasing an additional 51 shares in the last quarter. Steel Grove Capital Advisors LLC raised its stake in shares of Southern Copper by 1.8% during the fourth quarter. Steel Grove Capital Advisors LLC now owns 2,910 shares of the basic materials company’s stock valued at $417,000 after purchasing an additional 52 shares in the last quarter. Ensign Peak Advisors Inc grew its holdings in Southern Copper by 0.8% during the fourth quarter. Ensign Peak Advisors Inc now owns 6,379 shares of the basic materials company’s stock worth $915,000 after acquiring an additional 53 shares during the period. Finally, Venture Visionary Partners LLC grew its holdings in Southern Copper by 0.8% during the fourth quarter. Venture Visionary Partners LLC now owns 6,998 shares of the basic materials company’s stock worth $1,004,000 after acquiring an additional 53 shares during the period. Institutional investors and hedge funds own 7.94% of the company’s stock.

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.