Southern Copper (NYSE:SCCO) Director Lerdo De Tejada Leon Contreras Sells 9,248 Shares

Southern Copper Corporation (NYSE:SCCO) Director Lerdo De Tejada Leon Contreras sold 9,248 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $211.34, for a total value of $1,954,472.32. Following the completion of the sale, the director owned 600 shares in the company, valued at approximately $126,804. The trade was a 93.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Southern Copper Trading Up 11.7%

SCCO traded up $22.55 during trading hours on Tuesday, reaching $215.35. 3,206,214 shares of the company’s stock traded hands, compared to its average volume of 2,602,412. The firm has a market capitalization of $174.91 billion, a PE ratio of 45.15, a PEG ratio of 1.61 and a beta of 1.06. Southern Copper Corporation has a 52-week low of $74.84 and a 52-week high of $218.81. The company has a quick ratio of 3.91, a current ratio of 4.52 and a debt-to-equity ratio of 0.64. The firm has a 50-day moving average price of $157.91 and a 200 day moving average price of $129.47.

Southern Copper shares are scheduled to split on the morning of Tuesday, February 10th. The 1.0085-1 split was recently announced. The newly issued shares will be payable to shareholders after the closing bell on Monday, February 9th.

Southern Copper Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Tuesday, February 10th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.9%. This is a boost from Southern Copper’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Tuesday, February 10th. Southern Copper’s dividend payout ratio is 83.86%.

Analyst Ratings Changes

Several research analysts have commented on SCCO shares. The Goldman Sachs Group restated a “sell” rating and set a $129.00 price objective on shares of Southern Copper in a report on Wednesday, January 14th. Morgan Stanley reaffirmed an “underweight” rating and issued a $156.00 price target on shares of Southern Copper in a research report on Friday. Jefferies Financial Group set a $155.00 target price on Southern Copper and gave the stock a “buy” rating in a report on Monday, October 6th. Citigroup reiterated a “sell” rating on shares of Southern Copper in a report on Monday, January 12th. Finally, Itau BBA Securities downgraded Southern Copper from a “market perform” rating to an “underperform” rating and set a $126.00 price objective on the stock. in a research report on Monday, December 22nd. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and seven have assigned a Sell rating to the company. According to MarketBeat, Southern Copper presently has a consensus rating of “Reduce” and a consensus price target of $137.65.

Hedge Funds Weigh In On Southern Copper

Several hedge funds have recently modified their holdings of the stock. Hopwood Financial Services Inc. acquired a new position in Southern Copper during the 3rd quarter valued at approximately $25,000. MJT & Associates Financial Advisory Group Inc. raised its stake in Southern Copper by 65.1% in 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. Tobam purchased a new stake in Southern Copper during the 2nd quarter valued at about $29,000. United Community Bank acquired a new position in shares of Southern Copper in the third quarter valued at about $30,000. Finally, Caitlin John LLC acquired a new stake in shares of Southern Copper during the third quarter worth about $30,000. 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.