Southern Copper (NYSE:SCCO) Director Sells 100 Shares

Southern Copper Corporation (NYSE:SCCO) Director Bonilla Luis Miguel Palomino sold 100 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $195.00, for a total value of $19,500.00. Following the transaction, the director owned 1,903 shares in the company, valued at approximately $371,085. This trade represents a 4.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Wednesday, August 5th, Bonilla Luis Miguel Palomino sold 200 shares of Southern Copper stock. The stock was sold at an average price of $199.15, for a total transaction of $39,830.00.
• On Friday, July 24th, Bonilla Luis Miguel Palomino sold 100 shares of Southern Copper stock. The shares were sold at an average price of $179.00, for a total value of $17,900.00.
• On Friday, June 5th, Bonilla Luis Miguel Palomino sold 4 shares of Southern Copper stock. The shares were sold at an average price of $181.00, for a total value of $724.00.
• On Tuesday, June 2nd, Bonilla Luis Miguel Palomino sold 100 shares of Southern Copper stock. The shares were sold at an average price of $200.00, for a total transaction of $20,000.00.
• On Thursday, May 21st, Bonilla Luis Miguel Palomino sold 200 shares of Southern Copper stock. The stock was 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.

Southern Copper Stock Up 1.1%

Shares of NYSE:SCCO traded up $2.11 during mid-day trading on Wednesday, reaching $197.27. 1,281,125 shares of the stock were exchanged, compared to its average volume of 1,685,564. The company has a market cap of $162.96 billion, a P/E ratio of 28.84, a P/E/G ratio of 1.60 and a beta of 1.11. Southern Copper Corporation has a one year low of $92.57 and a one year high of $223.88. The stock’s 50 day simple moving average is $181.54 and its 200-day simple moving average is $184.40. The company has a quick ratio of 3.89, a current ratio of 5.06 and a debt-to-equity ratio of 0.63.

Southern Copper’s stock is going to split before the market opens on Tuesday, August 11th. The 1.012-1 split was recently announced. The newly minted shares will be distributed to shareholders after the market closes on Monday, August 10th.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings results on Wednesday, July 22nd. The basic materials company reported $2.01 EPS for the quarter, topping the consensus estimate of $1.95 by $0.06. Southern Copper had a net margin of 35.87% and a return on equity of 49.04%. The firm had revenue of $4.29 billion for the quarter, compared to analysts’ expectations of $4.37 billion. Southern Copper’s revenue for the quarter was up 40.6% compared to the same quarter last year. As a group, equities research analysts predict that Southern Copper Corporation will post 7.63 EPS for the current year.

Southern Copper Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Tuesday, August 11th will be issued a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Tuesday, August 11th. This is a boost from Southern Copper’s previous quarterly dividend of $1.00. Southern Copper’s payout ratio is currently 58.48%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Oppenheimer Asset Management Inc. purchased a new position in Southern Copper during the second quarter worth about $7,822,000. Bryn Mawr Trust Advisors LLC purchased a new position in Southern Copper during the 2nd quarter valued at about $622,000. E. Ohman J or Asset Management AB increased its holdings in shares of Southern Copper by 17.4% in the second quarter. E. Ohman J or Asset Management AB now owns 7,163 shares of the basic materials company’s stock worth $1,248,000 after purchasing an additional 1,061 shares during the period. Wealthcare Advisory Partners LLC raised its stake in Southern Copper by 3.7% in the second quarter. Wealthcare Advisory Partners LLC now owns 2,747 shares of the basic materials company’s stock valued at $479,000 after purchasing an additional 97 shares in the last quarter. Finally, Shrier Wealth Management LLC lifted its stake in Southern Copper by 5.8% during the second quarter. Shrier Wealth Management LLC now owns 2,217 shares of the basic materials company’s stock worth $386,000 after purchasing an additional 122 shares during the last quarter. Institutional investors own 7.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SCCO. CICC Research lowered shares of Southern Copper to a “market perform” rating in a research note on Sunday, July 26th. Wells Fargo & Company raised their price objective on Southern Copper from $171.00 to $172.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 9th. JPMorgan Chase & Co. boosted their price objective on shares of Southern Copper from $127.00 to $131.50 and gave the company an “underweight” rating in a research report on Wednesday, June 17th. Barclays set a $166.00 price objective on Southern Copper and gave the company an “underweight” rating in a report on Thursday, July 23rd. Finally, Zacks Research upgraded Southern Copper from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have issued a Hold rating and seven have issued a Sell rating to the company. Based on data from MarketBeat, Southern Copper currently has an average rating of “Reduce” and an average price target of $148.60.

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.