Insider Selling: Southern Copper (NYSE:SCCO) Director Sells 100 Shares

Southern Copper Corporation (NYSE:SCCO - Get Free Report) Director Luis Palomino Bonilla sold 100 shares of the business's stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $200.00, for a total value of $20,000.00. Following the completion of the transaction, the director owned 1,603 shares in the company, valued at $320,600. The trade was a 5.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

• Copper Is the AI Trade No One Priced In—3 Miners With the Most to Gain

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

• 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 shares were sold at an average price of $196.79, for a total value of $39,751.28.
• On Friday, July 24th, Luis Palomino Bonilla sold 101 shares of Southern Copper stock. The shares were sold at an average price of $176.88, for a total value of $17,864.62.

Southern Copper Price Performance

NYSE SCCO traded up $13.80 during trading hours on Tuesday, reaching $212.56. The company's stock had a trading volume of 439,597 shares, compared to its average volume of 1,605,077. Southern Copper Corporation has a 1 year low of $99.87 and a 1 year high of $223.88. The company has a quick ratio of 4.56, a current ratio of 5.06 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $177.34 billion, a price-to-earnings ratio of 31.00, a PEG ratio of 1.83 and a beta of 1.14. The firm's 50-day moving average price is $188.08 and its 200-day moving average price is $184.04.

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Southern Copper (NYSE:SCCO - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The basic materials company reported $1.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.93 by $0.06. The business had revenue of $4.29 billion during 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%. Southern Copper's revenue for the quarter was up 40.6% on a year-over-year basis. On average, equities research analysts predict that Southern Copper Corporation will post 7.59 EPS for the current fiscal year.

Southern Copper Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Investors of record on Tuesday, August 11th were paid a dividend of $1.10 per share. The ex-dividend date of this dividend was Tuesday, August 11th. This is a positive change from Southern Copper's previous quarterly dividend of $1.00. This represents a $4.40 annualized dividend and a yield of 2.1%. Southern Copper's dividend payout ratio is 64.33%.

Hedge Funds Weigh In On Southern Copper

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Several institutional investors have recently bought and sold shares of the business. Intech Investment Management LLC increased its holdings in shares of Southern Copper by 0.8% in the 4th quarter. Intech Investment Management LLC now owns 6,030 shares of the basic materials company's stock worth $865,000 after buying an additional 50 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al grew its position in Southern Copper by 0.8% in the fourth quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 6,072 shares of the basic materials company's stock worth $871,000 after acquiring an additional 51 shares in the last quarter. Steel Grove Capital Advisors LLC grew its position in Southern Copper by 1.8% in the fourth quarter. Steel Grove Capital Advisors LLC now owns 2,910 shares of the basic materials company's stock worth $417,000 after acquiring an additional 52 shares in the last quarter. Emergent Wealth Advisors LLC increased its stake in Southern Copper by 1.0% during the second quarter. Emergent Wealth Advisors LLC now owns 5,366 shares of the basic materials company's stock worth $935,000 after acquiring an additional 53 shares during the last quarter. Finally, Ensign Peak Advisors Inc increased its stake 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 last quarter. Institutional investors own 7.94% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on SCCO shares. Wells Fargo & Company boosted their price target on shares of Southern Copper from $168.97 to $169.96 and gave the stock an "equal weight" rating in a research note on Thursday, July 9th. CICC Research lowered Southern Copper to a "market perform" rating in a research report on Sunday, July 26th. Citigroup reaffirmed a "positive" rating on shares of Southern Copper in a report on Wednesday, July 15th. Wall Street Zen downgraded Southern Copper from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Finally, Scotiabank reissued an "underperform" rating and set a $138.34 price target (up from $133.40) on shares of Southern Copper in a research note on Monday, June 15th. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and seven have issued a Sell rating to the company's stock. According to MarketBeat.com, Southern Copper has an average rating of "Reduce" and an average price target of $146.84.

View Our Latest Stock Analysis on Southern Copper

About Southern Copper

(Get Free Report)

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.

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