Key Points
- Southern Copper director Bonilla Luis Miguel Palomino sold 100 shares on June 2 at an average price of $200, totaling $20,000. After the sale, he still held 1,707 shares, and the trade reduced his position by 5.53%.
- The director has been actively trimming his stake, with additional sales in May and March, including 200 shares on May 21 and 100 shares on May 15. These transactions were disclosed in SEC filings.
- Southern Copper reported solid financial results and a dividend, beating quarterly EPS and revenue estimates and recently paying a $1.00 per share quarterly dividend. However, Wall Street sentiment remains cautious, with an average analyst rating of “Reduce.”
Southern Copper Corporation (NYSE:SCCO - Get Free Report) Director Bonilla Luis Miguel Palomino sold 100 shares of the firm's stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $200.00, for a total transaction of $20,000.00. Following the sale, the director owned 1,707 shares in the company, valued at approximately $341,400. The trade was a 5.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Bonilla Luis Miguel Palomino also recently made the following trade(s):
- On Thursday, May 21st, Bonilla Luis Miguel Palomino sold 200 shares of Southern Copper stock. The stock was sold at an average price of $177.82, for a total transaction of $35,564.00.
- 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 transaction 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 transaction 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 transaction of $1,330.00.
Southern Copper Price Performance
NYSE SCCO opened at $201.35 on Wednesday. Southern Copper Corporation has a 12 month low of $88.73 and a 12 month high of $223.88. The stock has a market cap of $164.92 billion, a price-to-earnings ratio of 33.28, a PEG ratio of 1.92 and a beta of 1.09. The company's 50 day moving average is $179.72 and its two-hundred day moving average is $171.94. The company has a current ratio of 4.38, a quick ratio of 3.89 and a debt-to-equity ratio of 0.57.
Southern Copper (NYSE:SCCO - Get Free Report) last released its earnings results on Wednesday, April 29th. The basic materials company reported $1.92 EPS for the quarter, topping analysts' consensus estimates of $1.88 by $0.04. Southern Copper had a net margin of 34.13% and a return on equity of 45.63%. The company had revenue of $4.25 billion for the quarter, compared to analysts' expectations of $3.96 billion. As a group, research analysts anticipate that Southern Copper Corporation will post 6.93 earnings per share for the current year.
Southern Copper Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Wednesday, May 13th were given a dividend of $1.00 per share. The ex-dividend date was Wednesday, May 13th. This represents a $4.00 annualized dividend and a dividend yield of 2.0%. Southern Copper's dividend payout ratio (DPR) is presently 66.12%.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Southern Copper by 2,631.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,441 shares of the basic materials company's stock valued at $1,631,000 after purchasing an additional 12,949 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Southern Copper by 159.8% in the third quarter. Principal Financial Group Inc. now owns 10,308 shares of the basic materials company's stock valued at $1,251,000 after purchasing an additional 6,341 shares in the last quarter. Alps Advisors Inc. grew its holdings in shares of Southern Copper by 54.2% in the third quarter. Alps Advisors Inc. now owns 35,647 shares of the basic materials company's stock valued at $4,326,000 after purchasing an additional 12,532 shares in the last quarter. ICICI Prudential Asset Management Co Ltd purchased a new position in shares of Southern Copper in the third quarter valued at $8,452,000. Finally, AE Wealth Management LLC purchased a new position in shares of Southern Copper in the third quarter valued at $1,531,000. 7.94% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently issued reports on the stock. Wall Street Zen cut shares of Southern Copper from a "buy" rating to a "hold" rating in a research report on Saturday, May 16th. Barclays assumed coverage on shares of Southern Copper in a research report on Thursday, May 21st. They set an "underweight" rating and a $148.00 price objective on the stock. Wells Fargo & Company set a $171.00 price objective on shares of Southern Copper and gave the company an "equal weight" rating in a research report on Friday, May 1st. Bank of America cut shares of Southern Copper from a "neutral" rating to an "underperform" rating and lifted their price objective for the company from $162.00 to $175.00 in a research report on Thursday, February 26th. Finally, UBS Group lifted their price objective on shares of Southern Copper from $140.00 to $145.00 and gave the company a "sell" rating in a research report on Thursday, May 21st. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and eight have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Reduce" and an average target price of $145.14.
Get Our Latest Report on SCCO
Southern Copper Company Profile
(
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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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