Key Points
- Director Bonilla Luis Miguel Palomino sold 400 shares of Southern Copper on Dec. 3 at an average price of $139.00 for $55,600, leaving him with 1,265 shares — a reported 24.02% reduction in his ownership.
- This sale continues a string of recent insider dispositions (Sept–Nov), totaling 1,148 shares sold across six transactions — approximately $152,218 in proceeds.
- For context, Southern Copper recently beat Q3 estimates with EPS of $1.35 and revenue above expectations, trades near its 52-week high, and pays a quarterly dividend of $0.90 (annualized yield ~2.6%, DPR ~75.5%).
Southern Copper Corporation (NYSE:SCCO - Get Free Report) Director Bonilla Luis Miguel Palomino sold 400 shares of the company's stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $139.00, for a total transaction of $55,600.00. Following the completion of the transaction, the director owned 1,265 shares in the company, valued at approximately $175,835. This trade represents a 24.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Bonilla Luis Miguel Palomino also recently made the following trade(s):
- On Monday, November 10th, Bonilla Luis Miguel Palomino sold 148 shares of Southern Copper stock. The shares were sold at an average price of $140.00, for a total transaction of $20,720.00.
- 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 transaction 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 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 value of $21,088.00.
Southern Copper Price Performance
SCCO stock opened at $136.86 on Thursday. The stock has a market capitalization of $111.15 billion, a price-to-earnings ratio of 28.67, a price-to-earnings-growth ratio of 1.26 and a beta of 1.07. The company has a quick ratio of 3.91, a current ratio of 4.52 and a debt-to-equity ratio of 0.64. Southern Copper Corporation has a 52-week low of $74.84 and a 52-week high of $144.81. The stock's fifty day simple moving average is $130.81 and its 200-day simple moving average is $109.73.
Southern Copper (NYSE:SCCO - Get Free Report) last released its earnings results on Friday, October 31st. 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 return on equity of 38.74% and a net margin of 30.98%.The firm had revenue of $3.38 billion for the quarter, compared to the consensus estimate of $3.05 billion. Equities research analysts expect that Southern Copper Corporation will post 4.66 EPS for the current year.
Southern Copper Cuts Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Wednesday, November 12th were given a $0.90 dividend. The ex-dividend date of this dividend was Wednesday, November 12th. This represents a $3.60 annualized dividend and a dividend yield of 2.6%. Southern Copper's dividend payout ratio (DPR) is currently 75.47%.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on the stock. Wall Street Zen downgraded shares of Southern Copper from a "buy" rating to a "hold" rating in a report on Friday, November 28th. Weiss Ratings reiterated a "buy (b)" rating on shares of Southern Copper in a report on Monday. UBS Group restated a "buy" rating on shares of Southern Copper in a report on Friday, September 19th. HSBC reaffirmed a "hold" rating and issued a $118.00 target price (up from $105.00) on shares of Southern Copper in a research report on Friday, October 17th. Finally, Morgan Stanley set a $132.00 price target on Southern Copper and gave the company an "equal weight" rating in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Southern Copper presently has a consensus rating of "Hold" and an average target price of $117.94.
Get Our Latest Stock Analysis on Southern Copper
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the stock. MJT & Associates Financial Advisory Group Inc. grew its stake in shares of Southern Copper by 65.1% in the third quarter. MJT & Associates Financial Advisory Group Inc. now owns 213 shares of the basic materials company's stock valued at $26,000 after buying an additional 84 shares in the last quarter. Covestor Ltd boosted its stake in Southern Copper by 30.4% during the 3rd quarter. Covestor Ltd now owns 360 shares of the basic materials company's stock valued at $44,000 after acquiring an additional 84 shares during the last quarter. Avanza Fonder AB grew its holdings in Southern Copper by 1.0% during the 3rd quarter. Avanza Fonder AB now owns 8,663 shares of the basic materials company's stock worth $1,051,000 after acquiring an additional 86 shares in the last quarter. Redwood Wealth Management Group LLC increased its position in shares of Southern Copper by 1.5% in the 3rd quarter. Redwood Wealth Management Group LLC now owns 5,999 shares of the basic materials company's stock worth $728,000 after purchasing an additional 89 shares during the last quarter. Finally, Powell Investment Advisors LLC raised its stake in shares of Southern Copper by 1.0% in the 3rd quarter. Powell Investment Advisors LLC now owns 9,637 shares of the basic materials company's stock valued at $1,170,000 after purchasing an additional 96 shares in the last quarter. Institutional investors and hedge funds 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.
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