Southern Copper (NYSE:SCCO) Director Sells $20,000.00 in Stock

Southern Copper Corporation (NYSE:SCCO) Director Luis Palomino Bonilla sold 100 shares of the stock in a transaction on Thursday, September 24th. The stock was sold at an average price of $200.00, for a total value of $20,000.00. Following the transaction, the director owned 1,503 shares of the company’s stock, valued at $300,600. This represents a 6.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Tuesday, September 8th, Luis Palomino Bonilla sold 100 shares of Southern Copper stock. The stock was sold at an average price of $210.00, for a total transaction of $21,000.00.
• On Friday, September 4th, Luis Palomino Bonilla sold 100 shares of Southern Copper stock. The stock was sold at an average price of $200.00, for a total value of $20,000.00.
• On Tuesday, August 4th, Luis Palomino Bonilla sold 101 shares of Southern Copper stock. The stock was sold at an average price of $192.69, for a total value of $19,461.46.
• On Wednesday, August 5th, Luis Palomino Bonilla sold 202 shares of Southern Copper stock. The stock was sold at an average price of $196.79, for a total transaction of $39,751.28.
• On Friday, July 24th, Luis Palomino Bonilla sold 101 shares of Southern Copper stock. The stock was sold at an average price of $176.88, for a total transaction of $17,864.62.

Southern Copper Trading Up 1.1%

Shares of SCCO traded up $2.26 during trading hours on Friday, hitting $203.84. 776,865 shares of the stock traded hands, compared to its average volume of 1,572,987. The business has a fifty day moving average of $194.83 and a 200-day moving average of $183.63. The company has a current ratio of 5.06, a quick ratio of 4.56 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $170.07 billion, a PE ratio of 29.80, a price-to-earnings-growth ratio of 1.84 and a beta of 1.14. Southern Copper Corporation has a 1-year low of $116.93 and a 1-year high of $223.88.

Southern Copper (NYSE:SCCO) last issued its earnings results on Wednesday, July 22nd. The basic materials company reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.06. The company had revenue of $4.29 billion for the quarter, compared to analyst estimates of $4.37 billion. Southern Copper had a net margin of 35.87% and a return on equity of 49.04%. The company’s revenue for the quarter was up 40.6% compared to the same quarter last year. Analysts expect that Southern Copper Corporation will post 7.83 EPS for the current year.

Southern Copper Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Shareholders of record on Tuesday, August 11th were issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 2.2%. This is an increase from Southern Copper’s previous quarterly dividend of $1.00. The ex-dividend date was Tuesday, August 11th. Southern Copper’s dividend payout ratio (DPR) is 64.33%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Plimoth Trust Co. LLC increased its holdings in shares of Southern Copper by 0.8% during the 2nd quarter. Plimoth Trust Co. LLC now owns 6,218 shares of the basic materials company’s stock worth $1,084,000 after buying an additional 48 shares during the last quarter. Intech Investment Management LLC raised its position in Southern Copper by 0.8% in 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 during the period. Emergent Wealth Advisors LLC lifted its stake in shares of Southern Copper by 1.0% in the 2nd quarter. Emergent Wealth Advisors LLC now owns 5,366 shares of the basic materials company’s stock valued at $935,000 after purchasing an additional 53 shares during the last quarter. QRG Capital Management Inc. increased its position in shares of Southern Copper by 3.6% during the 1st quarter. QRG Capital Management Inc. now owns 1,802 shares of the basic materials company’s stock worth $310,000 after purchasing an additional 63 shares during the last quarter. Finally, Howard Financial Services LTD. raised its stake in shares of Southern Copper by 4.8% in the 2nd quarter. Howard Financial Services LTD. now owns 1,587 shares of the basic materials company’s stock valued at $277,000 after acquiring an additional 72 shares during the period. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on SCCO shares. Citigroup reissued a “positive” rating on shares of Southern Copper in a report on Wednesday, July 15th. Wells Fargo & Company boosted their price objective on Southern Copper from $168.97 to $169.96 and gave the company an “equal weight” rating in a research report on Thursday, July 9th. JPMorgan Chase & Co. upped their price target on shares of Southern Copper from $125.49 to $129.94 and gave the company an “underweight” rating in a report on Wednesday, June 17th. Barclays set a $164.03 price objective on shares of Southern Copper and gave the company an “underweight” rating in a research report on Thursday, July 23rd. Finally, Weiss Ratings raised Southern Copper from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, July 28th. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and seven have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $146.84.

About Southern Copper

Southern Copper Corporation (NYSE: SCCO) is an integrated copper producer engaged in the exploration, mining, processing, smelting and refining of minerals. The company produces copper in the form of cathodes, concentrates and anodes, along with byproducts including molybdenum, zinc, silver, lead and sulfuric acid.

Southern Copper operates mining and processing facilities in Mexico and Peru. Its principal Mexican operations include the Buenavista del Cobre and La Caridad mining complexes, while its Peruvian operations include the Toquepala and Cuajone mines and the Ilo smelter and refinery.