Key Points
- Southern Copper director Bonilla Luis Miguel Palomino sold 200 shares on May 21 at an average price of $177.82, totaling $35,564. Following the sale, he still held 1,807 shares worth about $321,321.
- The company reported stronger-than-expected quarterly results, posting EPS of $1.92 versus estimates of $1.88 and revenue of $4.25 billion versus expectations of $3.96 billion.
- Southern Copper announced a quarterly dividend of $1.00 per share, payable May 29, which annualizes to $4.00 per share and implies a 2.2% yield.
Southern Copper Corporation (NYSE:SCCO - Get Free Report) Director Bonilla Luis Miguel Palomino sold 200 shares of the business's stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $177.82, for a total value of $35,564.00. Following the transaction, the director owned 1,807 shares in the company, valued at approximately $321,320.74. This represents a 9.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Bonilla Luis Miguel Palomino also recently made the following trade(s):
- On Friday, May 15th, Bonilla Luis Miguel Palomino sold 100 shares of Southern Copper stock. The stock was sold at an average price of $178.20, for a total value of $17,820.00.
- On Friday, March 13th, Bonilla Luis Miguel Palomino sold 193 shares of Southern Copper stock. The stock was 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 stock was sold at an average price of $190.00, for a total value of $1,330.00.
Southern Copper Trading Up 0.3%
Shares of Southern Copper stock opened at $179.68 on Friday. The stock has a market cap of $147.18 billion, a P/E ratio of 29.70, a P/E/G ratio of 1.77 and a beta of 1.07. The stock's 50 day simple moving average is $177.58 and its 200-day simple moving average is $169.41. Southern Copper Corporation has a 1-year low of $88.73 and a 1-year high of $223.88. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.38 and a quick ratio of 3.89.
Southern Copper (NYSE:SCCO - Get Free Report) last issued its earnings results on Wednesday, April 29th. The basic materials company reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.04. The business 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%. Analysts predict that Southern Copper Corporation will post 6.93 EPS for the current fiscal year.
Southern Copper Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Stockholders 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 dividend yield of 2.2%. The ex-dividend date of this dividend is Wednesday, May 13th. Southern Copper's payout ratio is presently 66.12%.
Wall Street Analyst Weigh In
Several research firms have recently commented on SCCO. Morgan Stanley lifted their price target on shares of Southern Copper from $155.00 to $160.00 and gave the company an "underweight" rating in a research report on Thursday, April 9th. Wells Fargo & Company set a $171.00 price target on shares of Southern Copper and gave the company an "equal weight" rating in a research report on Friday, May 1st. Barclays began coverage on shares of Southern Copper in a research report on Thursday. They set an "underweight" rating and a $148.00 price target on the stock. The Goldman Sachs Group raised shares of Southern Copper from a "sell" rating to a "neutral" rating and set a $178.00 price target on the stock in a research report on Friday, April 10th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Southern Copper in a research report on Friday, March 27th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and eight have assigned a Sell rating to the stock. According to data from MarketBeat, Southern Copper currently has an average rating of "Reduce" and an average target price of $145.14.
Read Our Latest Report on Southern Copper
Institutional Trading of Southern Copper
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Capital World Investors raised its position in Southern Copper by 36.1% in the third quarter. Capital World Investors now owns 6,437,608 shares of the basic materials company's stock valued at $781,268,000 after purchasing an additional 1,708,693 shares during the period. State Street Corp raised its position in Southern Copper by 2.4% in the fourth quarter. State Street Corp now owns 2,862,244 shares of the basic materials company's stock valued at $410,646,000 after purchasing an additional 66,268 shares during the period. Fisher Asset Management LLC raised its position in Southern Copper by 0.3% in the fourth quarter. Fisher Asset Management LLC now owns 2,536,228 shares of the basic materials company's stock valued at $363,873,000 after purchasing an additional 7,194 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Southern Copper by 8.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,181,293 shares of the basic materials company's stock valued at $169,480,000 after purchasing an additional 90,237 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Southern Copper by 12.8% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,091,632 shares of the basic materials company's stock valued at $132,479,000 after purchasing an additional 123,532 shares during the period. Hedge funds and other institutional investors own 7.94% of the company's stock.
About Southern Copper
(
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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