Key Points
- Director Bonilla Luis Miguel Palomino sold 148 shares on November 10 at an average price of $140 for $20,720, trimming his stake to 1,665 shares (an 8.16% reduction); across six recent transactions he has sold a total of 962 shares for roughly $118,232.
- Southern Copper stock traded down 2.4% to $133.48 (52‑week range $74.84–$144.81) and the company recently cut its quarterly dividend to $0.90 (annualized $3.60, yield 2.7%, DPR 75.47%); the firm also reported a quarterly EPS of $1.35 beating estimates and carries a MarketBeat consensus rating of "Hold" with an average price target of $117.94.
Southern Copper Corporation (NYSE:SCCO - Get Free Report) Director Bonilla Luis Miguel Palomino sold 148 shares of the company's stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $140.00, for a total transaction of $20,720.00. Following the transaction, the director directly owned 1,665 shares in the company, valued at $233,100. The trade was a 8.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.
Bonilla Luis Miguel Palomino also recently made the following trade(s):
- On Thursday, November 6th, Bonilla Luis Miguel Palomino sold 100 shares of Southern Copper stock. The shares were 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 stock was 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 shares were 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 shares were sold at an average price of $105.44, for a total value of $21,088.00.
- On Wednesday, September 3rd, Bonilla Luis Miguel Palomino sold 214 shares of Southern Copper stock. The stock was sold at an average price of $101.00, for a total value of $21,614.00.
Southern Copper Trading Down 2.4%
SCCO traded down $3.30 during midday trading on Thursday, hitting $133.48. The company's stock had a trading volume of 297,773 shares, compared to its average volume of 1,474,708. Southern Copper Corporation has a 52-week low of $74.84 and a 52-week high of $144.81. The firm has a 50-day moving average price of $123.95 and a two-hundred day moving average price of $105.64. The company has a current ratio of 5.27, a quick ratio of 4.51 and a debt-to-equity ratio of 0.67. The firm has a market cap of $108.41 billion, a P/E ratio of 27.94, a PEG ratio of 1.29 and a beta of 1.08.
Southern Copper (NYSE:SCCO - Get Free Report) last announced its quarterly earnings data on Tuesday, October 28th. The basic materials company reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.09. Southern Copper had a net margin of 30.98% and a return on equity of 39.62%. The business had revenue of $3.38 billion for the quarter, compared to analyst estimates of $3.05 billion. On average, research analysts anticipate that Southern Copper Corporation will post 4.66 earnings per share for the current year.
Southern Copper Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Wednesday, November 12th will be given a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Wednesday, November 12th. Southern Copper's dividend payout ratio (DPR) is 75.47%.
Hedge Funds Weigh In On Southern Copper
Several large investors have recently added to or reduced their stakes in SCCO. Capital World Investors raised its position in shares of Southern Copper by 36.1% during the 3rd quarter. Capital World Investors now owns 6,437,608 shares of the basic materials company's stock worth $781,268,000 after purchasing an additional 1,708,693 shares during the period. Norges Bank bought a new stake in shares of Southern Copper in the 2nd quarter worth approximately $57,901,000. Jacobs Levy Equity Management Inc. acquired a new stake in Southern Copper during the first quarter valued at approximately $40,338,000. Nuveen LLC acquired a new position in Southern Copper in the first quarter worth approximately $34,086,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of Southern Copper by 26.3% in the first quarter. JPMorgan Chase & Co. now owns 1,551,878 shares of the basic materials company's stock valued at $145,039,000 after buying an additional 322,935 shares in the last quarter. 7.94% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on SCCO shares. Wall Street Zen upgraded Southern Copper from a "hold" rating to a "buy" rating in a research note on Saturday, November 8th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Southern Copper in a research note on Wednesday, October 8th. Jefferies Financial Group set a $155.00 price target on Southern Copper and gave the stock a "buy" rating in a research note on Monday, October 6th. Zacks Research upgraded Southern Copper from a "hold" rating to a "strong-buy" rating in a report on Friday, November 7th. Finally, Citigroup reiterated a "sell" rating and set a $108.00 target price (up from $89.10) on shares of Southern Copper in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $117.94.
Read Our Latest Report on Southern Copper
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.
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