Bonilla Luis Miguel Palomino Sells 400 Shares of Southern Copper (NYSE:SCCO) Stock

Southern Copper Corporation (NYSE:SCCO) Director Bonilla Luis Miguel Palomino sold 400 shares of the stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $139.00, for a total value of $55,600.00. Following the sale, the director directly owned 1,265 shares in the company, valued at $175,835. This represents a 24.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Monday, November 10th, Bonilla Luis Miguel Palomino sold 148 shares of Southern Copper stock. The shares were sold at an average price of $140.00, for a total value of $20,720.00.
• On Thursday, November 6th, Bonilla Luis Miguel Palomino sold 100 shares of Southern Copper stock. The stock was sold at an average price of $137.50, for a total value of $13,750.00.
• On Tuesday, November 4th, Bonilla Luis Miguel Palomino sold 100 shares of Southern Copper stock. The shares were sold at an average price of $131.90, for a total value of $13,190.00.
• On Friday, October 31st, Bonilla Luis Miguel Palomino sold 200 shares of Southern Copper stock. The stock was sold at an average price of $139.35, for a total value of $27,870.00.
• On Friday, September 12th, Bonilla Luis Miguel Palomino sold 200 shares of Southern Copper stock. The stock was sold at an average price of $105.44, for a total transaction of $21,088.00.

Southern Copper Stock Performance

SCCO opened at $139.95 on Friday. The firm has a fifty day moving average price of $131.25 and a 200 day moving average price of $109.94. Southern Copper Corporation has a 1 year low of $74.84 and a 1 year high of $144.81. The stock has a market cap of $113.66 billion, a P/E ratio of 29.34, a P/E/G ratio of 1.30 and a beta of 1.07. The company has a debt-to-equity ratio of 0.64, a current ratio of 4.52 and a quick ratio of 3.91.

Southern Copper (NYSE:SCCO) last released its quarterly earnings data on Friday, October 31st. The basic materials company reported $1.35 earnings per share 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 38.74%. The company had revenue of $3.38 billion during the quarter, compared to analysts’ expectations of $3.05 billion. Equities research analysts anticipate that Southern Copper Corporation will post 4.66 earnings per share for the current year.

Southern Copper Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Wednesday, November 12th were given a dividend of $0.90 per share. The ex-dividend date was Wednesday, November 12th. This represents a $3.60 dividend on an annualized basis and a yield of 2.6%. Southern Copper’s dividend payout ratio is currently 75.47%.

Institutional Trading of Southern Copper

Institutional investors have recently made changes to their positions in the company. Swiss Life Asset Management Ltd increased its stake in Southern Copper by 27.9% during the third quarter. Swiss Life Asset Management Ltd now owns 8,823 shares of the basic materials company’s stock worth $1,071,000 after acquiring an additional 1,927 shares during the last quarter. CIBC Private Wealth Group LLC lifted its stake in shares of Southern Copper by 62.5% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,108 shares of the basic materials company’s stock valued at $134,000 after purchasing an additional 426 shares during the last quarter. First Commonwealth Financial Corp PA purchased a new position in shares of Southern Copper during the 3rd quarter worth $205,000. Advisory Services Network LLC increased its position in shares of Southern Copper by 11.7% during the 3rd quarter. Advisory Services Network LLC now owns 4,652 shares of the basic materials company’s stock worth $565,000 after purchasing an additional 486 shares during the last quarter. Finally, Greenline Partners LLC raised its holdings in Southern Copper by 6.1% in the 3rd quarter. Greenline Partners LLC now owns 107,906 shares of the basic materials company’s stock valued at $13,095,000 after buying an additional 6,191 shares during the period. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on SCCO shares. Wells Fargo & Company boosted their price objective on Southern Copper from $121.00 to $137.00 and gave the company an “equal weight” rating in a research report on Thursday, October 30th. Jefferies Financial Group set a $155.00 price target on shares of Southern Copper and gave the stock a “buy” rating in a report on Monday, October 6th. Weiss Ratings restated a “buy (b)” rating on shares of Southern Copper in a research report on Monday. Zacks Research upgraded shares of Southern Copper from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 7th. Finally, UBS Group reissued a “buy” rating on shares of Southern Copper in a research note on Friday, September 19th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $117.94.

About Southern Copper

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.