Key Points
- Southern Copper director Luis Palomino Bonilla sold 100 shares for approximately $21,000 at $210 per share, reducing his holdings by 6.24% to 1,503 shares. He has also made several other sales in recent months.
- Southern Copper reported quarterly earnings of $1.99 per share, exceeding estimates of $1.93, while revenue rose 40.6% year over year but fell short of expectations. The company increased its quarterly dividend to $1.10 per share, equivalent to a $4.40 annualized payout and roughly a 2.3% yield.
- The stock opened at $194.11 and trades at about 28 times earnings, near its 52-week high. Analysts maintain a consensus “Reduce” rating with an average price target of $146.84, well below the current share price.
Southern Copper Corporation (NYSE:SCCO - Get Free Report) Director Luis Palomino Bonilla sold 100 shares of the firm's stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $210.00, for a total value of $21,000.00. Following the completion of the transaction, the director owned 1,503 shares in the company, valued at approximately $315,630. This represents a 6.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Bonilla Luis Miguel Palomino also recently made the following trade(s):
- On Friday, September 4th, Luis Palomino Bonilla sold 100 shares of Southern Copper stock. The stock was sold at an average price of $200.00, for a total value of $20,000.00.
- On Tuesday, August 4th, Luis Palomino Bonilla sold 101 shares of Southern Copper stock. The shares were sold at an average price of $192.69, for a total transaction of $19,461.46.
- On Wednesday, August 5th, Luis Palomino Bonilla sold 202 shares of Southern Copper stock. The shares were sold at an average price of $196.79, for a total transaction of $39,751.28.
- On Friday, July 24th, Luis Palomino Bonilla sold 101 shares of Southern Copper stock. The shares were sold at an average price of $176.88, for a total transaction of $17,864.62.
Southern Copper Stock Down 7.2%
Shares of NYSE:SCCO opened at $194.11 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 5.06 and a quick ratio of 4.56. The stock has a market cap of $161.95 billion, a price-to-earnings ratio of 28.38, a P/E/G ratio of 1.87 and a beta of 1.14. The company has a 50 day moving average of $190.16 and a 200-day moving average of $184.27. Southern Copper Corporation has a one year low of $101.77 and a one year high of $223.88.
Southern Copper (NYSE:SCCO - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The basic materials company reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.93 by $0.06. Southern Copper had a net margin of 35.87% and a return on equity of 49.04%. The business had revenue of $4.29 billion for the quarter, compared to analyst estimates of $4.37 billion. The firm's quarterly revenue was up 40.6% compared to the same quarter last year. On average, sell-side analysts forecast that Southern Copper Corporation will post 7.83 earnings per share for the current year.
Southern Copper Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Shareholders of record on Tuesday, August 11th were given a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Tuesday, August 11th. This is a positive change from Southern Copper's previous quarterly dividend of $1.00. Southern Copper's dividend payout ratio is presently 64.33%.
Key Southern Copper News
Here are the key news stories impacting Southern Copper this week:
- Positive Sentiment: Longer term, Southern Copper remains positioned to benefit from tight copper supplies. Demand from artificial-intelligence data centers, power-grid upgrades and renewable-energy infrastructure is rising while global mine production is declining. The company’s low-cost operations, 49.04% return on equity and roughly 2.1% dividend yield could provide significant operating leverage if elevated copper prices persist. Southern Copper stock overview
- Positive Sentiment: Recent momentum screens continue to rank SCCO favorably for long-term investors, supported by strong earnings performance. Southern Copper most recently reported adjusted earnings above analyst expectations, although revenue fell short of estimates. Southern Copper momentum analysis
- Neutral Sentiment: Director Luis Palomino Bonilla sold 100 shares for approximately $21,000 at an average price of $210. The transaction reduced his holdings by 6.24%, but he still retained 1,503 shares, making the sale a relatively small insider transaction. Southern Copper director insider transaction
- Negative Sentiment: Near-term sentiment is weakened by SCCO’s premium valuation. The stock trades at about 28 times earnings and near the upper end of its 52-week range, while reported analyst consensus remains “Reduce” with an average price target well below the current market level. Southern Copper analyst forecast
- Negative Sentiment: High copper prices are also beginning to weigh on demand, with Chinese imports reportedly reaching a six-year low for August as fabricators resisted elevated spot prices. This creates a risk of further commodity-price volatility even though the longer-term supply outlook remains favorable. Copper stocks tariff-related decline
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on SCCO. Zacks Research lowered Southern Copper from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 7th. Citigroup reiterated a "positive" rating on shares of Southern Copper in a report on Wednesday, July 15th. CICC Research lowered Southern Copper to a "market perform" rating in a research note on Sunday, July 26th. Scotiabank restated an "underperform" rating and set a $138.34 target price (up from $133.40) on shares of Southern Copper in a report on Monday, June 15th. Finally, Wells Fargo & Company boosted their target price on Southern Copper from $168.97 to $169.96 and gave the stock an "equal weight" rating in a research report on Thursday, July 9th. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and seven have given a Sell rating to the company. Based on data from MarketBeat.com, Southern Copper currently has a consensus rating of "Reduce" and a consensus price target of $146.84.
View Our Latest Stock Analysis on Southern Copper
Hedge Funds Weigh In On Southern Copper
A number of hedge funds and other institutional investors have recently made changes to their positions in SCCO. Sequoia Financial Advisors LLC grew its holdings in shares of Southern Copper by 3.4% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 11,877 shares of the basic materials company's stock valued at $2,070,000 after buying an additional 387 shares during the period. Engineers Gate Manager LP increased its position in shares of Southern Copper by 253.1% in the 2nd quarter. Engineers Gate Manager LP now owns 5,190 shares of the basic materials company's stock valued at $904,000 after buying an additional 3,720 shares in the last quarter. Plimoth Trust Co. LLC raised its stake in Southern Copper by 0.8% during the 2nd quarter. Plimoth Trust Co. LLC now owns 6,218 shares of the basic materials company's stock worth $1,084,000 after buying an additional 48 shares during the period. NorthRock Partners LLC acquired a new stake in Southern Copper during the 2nd quarter worth $318,000. Finally, Integrated Wealth Concepts LLC lifted its holdings in Southern Copper by 3.5% during the second quarter. Integrated Wealth Concepts LLC now owns 11,604 shares of the basic materials company's stock worth $2,022,000 after acquiring an additional 390 shares in the last quarter. 7.94% of the stock is owned by institutional investors.
About Southern Copper
(
Get Free Report)
Southern Copper Corporation (NYSE: SCCO) is an integrated copper producer engaged in the exploration, mining, processing, smelting and refining of minerals. The company produces copper in the form of cathodes, concentrates and anodes, along with byproducts including molybdenum, zinc, silver, lead and sulfuric acid.
Southern Copper operates mining and processing facilities in Mexico and Peru. Its principal Mexican operations include the Buenavista del Cobre and La Caridad mining complexes, while its Peruvian operations include the Toquepala and Cuajone mines and the Ilo smelter and refinery.
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