Key Points
- Director Bonilla Luis Miguel Palomino sold 100 shares of Southern Copper on Nov. 6 at an average price of $137.50 for $13,750, leaving him with 1,813 shares (a 5.23% reduction); he also executed additional insider sales on Nov. 4, Oct. 31, Sept. 12 and Sept. 3.
- Southern Copper shares opened at $136.57 with a market cap around $109.8B; the company announced a 1.0085‑for‑1 stock split effective Nov. 12, pays a quarterly dividend of $0.90 (yield ~2.6%, ex‑dividend Nov. 12), and recently reported an EPS beat ($1.35 vs. $1.26).
Southern Copper Corporation (NYSE:SCCO - Get Free Report) Director Bonilla Luis Miguel Palomino sold 100 shares of the firm's stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $137.50, for a total transaction of $13,750.00. Following the completion of the transaction, the director directly owned 1,813 shares in the company, valued at $249,287.50. This represents a 5.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Bonilla Luis Miguel Palomino also recently made the following trade(s):
- 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 transaction 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 transaction of $27,870.00.
- On Friday, September 12th, Bonilla Luis Miguel Palomino sold 200 shares of Southern Copper stock. The shares were sold at an average price of $105.44, for a total transaction of $21,088.00.
- On Wednesday, September 3rd, Bonilla Luis Miguel Palomino sold 214 shares of Southern Copper stock. The shares were sold at an average price of $101.00, for a total value of $21,614.00.
Southern Copper Stock Down 0.5%
Shares of NYSE:SCCO opened at $136.57 on Friday. The business's 50 day moving average is $121.53 and its 200 day moving average is $104.60. The stock has a market cap of $109.81 billion, a P/E ratio of 28.63, a price-to-earnings-growth ratio of 1.29 and a beta of 1.08. Southern Copper Corporation has a 52-week low of $74.84 and a 52-week high of $144.81. The company has a quick ratio of 4.51, a current ratio of 5.27 and a debt-to-equity ratio of 0.67.
Shares of Southern Copper are going to split on Wednesday, November 12th. The 1.0085-1 split was recently announced. The newly created shares will be issued to shareholders after the closing bell on Tuesday, November 11th.
Southern Copper (NYSE:SCCO - Get Free Report) last posted its quarterly earnings results on Tuesday, October 28th. The basic materials company reported $1.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.26 by $0.09. The business had revenue of $3.38 billion for the quarter, compared to the consensus estimate of $3.05 billion. Southern Copper had a return on equity of 39.62% and a net margin of 30.98%. Sell-side analysts predict that Southern Copper Corporation will post 4.66 EPS for the current year.
Southern Copper Cuts Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Wednesday, November 12th will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 2.6%. The ex-dividend date is Wednesday, November 12th. Southern Copper's dividend payout ratio is presently 75.47%.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on SCCO. UBS Group restated a "buy" rating on shares of Southern Copper in a report on Friday, September 19th. HSBC reissued a "hold" rating and set a $118.00 price objective (up from $105.00) on shares of Southern Copper in a report on Friday, October 17th. Wall Street Zen upgraded Southern Copper from a "hold" rating to a "buy" rating in a report on Saturday. Weiss Ratings reiterated a "buy (b-)" rating on shares of Southern Copper in a report on Wednesday, October 8th. Finally, Wells Fargo & Company boosted their price target on Southern Copper from $121.00 to $137.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 30th. Two equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, Southern Copper currently has an average rating of "Reduce" and an average target price of $117.94.
Check Out Our Latest Analysis on SCCO
Institutional Trading of Southern Copper
Several hedge funds and other institutional investors have recently made changes to their positions in SCCO. Teacher Retirement System of Texas acquired a new position in Southern Copper during the 1st quarter valued at about $2,637,000. Nordea Investment Management AB grew its stake in shares of Southern Copper by 6.5% during the second quarter. Nordea Investment Management AB now owns 140,489 shares of the basic materials company's stock worth $14,326,000 after acquiring an additional 8,531 shares during the last quarter. Amalgamated Bank increased its holdings in shares of Southern Copper by 3.7% during the first quarter. Amalgamated Bank now owns 6,034 shares of the basic materials company's stock valued at $564,000 after acquiring an additional 215 shares in the last quarter. XTX Topco Ltd raised its position in shares of Southern Copper by 185.1% in the 1st quarter. XTX Topco Ltd now owns 12,600 shares of the basic materials company's stock valued at $1,178,000 after purchasing an additional 8,180 shares during the last quarter. Finally, LPL Financial LLC boosted its stake in Southern Copper by 9.2% in the 1st quarter. LPL Financial LLC now owns 148,380 shares of the basic materials company's stock worth $13,868,000 after purchasing an additional 12,531 shares in the last quarter. Hedge funds and other institutional investors own 7.94% of the company's stock.
Southern Copper Company Profile
(
Get Free Report)
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.
Further Reading
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