Key Points
- Director Bonilla Luis Miguel Palomino sold 100 shares of Southern Copper on May 15 at an average price of $178.20, totaling $17,820. After the sale, he still held 2,007 shares, a 4.75% decrease in his position.
- Southern Copper reported stronger-than-expected quarterly results, posting EPS of $1.92 versus the $1.88 estimate and revenue of $4.25 billion versus $3.96 billion expected.
- The company also declared a quarterly dividend of $1.00 per share, payable May 29, implying a $4.00 annualized dividend yield of 2.3% and a payout ratio of 66.12%.
Southern Copper Corporation (NYSE:SCCO - Get Free Report) Director Bonilla Luis Miguel Palomino sold 100 shares of the company's stock in a transaction on Friday, May 15th. The shares were sold at an average price of $178.20, for a total value of $17,820.00. Following the completion of the transaction, the director directly owned 2,007 shares in the company, valued at $357,647.40. This represents a 4.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Bonilla Luis Miguel Palomino also recently made the following trade(s):
- On Friday, March 13th, Bonilla Luis Miguel Palomino sold 193 shares of Southern Copper stock. The shares were sold at an average price of $174.60, for a total value of $33,697.80.
- On Thursday, March 12th, Bonilla Luis Miguel Palomino sold 7 shares of Southern Copper stock. The shares were sold at an average price of $190.00, for a total value of $1,330.00.
Southern Copper Price Performance
NYSE SCCO opened at $171.90 on Tuesday. The stock has a market capitalization of $140.80 billion, a P/E ratio of 28.41, a P/E/G ratio of 1.73 and a beta of 1.07. Southern Copper Corporation has a 1 year low of $88.73 and a 1 year high of $223.88. The business's fifty day moving average is $178.80 and its two-hundred day moving average is $168.59. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.89 and a current ratio of 4.38.
Southern Copper (NYSE:SCCO - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.04. The company had revenue of $4.25 billion for the quarter, compared to analysts' expectations of $3.96 billion. Southern Copper had a return on equity of 45.63% and a net margin of 34.13%. On average, research analysts forecast that Southern Copper Corporation will post 6.97 earnings per share for the current fiscal year.
Southern Copper Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Wednesday, May 13th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.3%. The ex-dividend date is Wednesday, May 13th. Southern Copper's payout ratio is presently 66.12%.
Analyst Upgrades and Downgrades
Several equities analysts have weighed in on SCCO shares. Wall Street Zen cut shares of Southern Copper from a "buy" rating to a "hold" rating in a research report on Saturday. Scotiabank reiterated an "underperform" rating and set a $135.00 price objective (up from $133.00) on shares of Southern Copper in a research report on Friday. JPMorgan Chase & Co. lifted their price objective on shares of Southern Copper from $117.50 to $127.00 and gave the stock an "underweight" rating in a research report on Friday, April 10th. Wells Fargo & Company set a $171.00 price objective on shares of Southern Copper and gave the stock an "equal weight" rating in a research report on Friday, May 1st. Finally, Morgan Stanley lifted their price objective on shares of Southern Copper from $155.00 to $160.00 and gave the stock an "underweight" rating in a research report on Thursday, April 9th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and seven have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Southern Copper presently has a consensus rating of "Reduce" and a consensus price target of $144.43.
Get Our Latest Report on Southern Copper
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the company. Hopwood Financial Services Inc. acquired a new position in Southern Copper during the 3rd quarter worth $25,000. SHP Wealth Management acquired a new position in Southern Copper during the 4th quarter worth $25,000. Lloyd Advisory Services LLC. acquired a new position in Southern Copper during the 4th quarter worth $29,000. Virtus Advisers LLC acquired a new position in Southern Copper during the 4th quarter worth $29,000. Finally, United Community Bank acquired a new position in Southern Copper during the 3rd quarter worth $30,000. Institutional investors and hedge funds own 7.94% of the company's stock.
Southern Copper Company Profile
(
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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