Bonilla Luis Miguel Palomino Sells 100 Shares of Southern Copper Co. (NYSE:SCCO) Stock

by · The Markets Daily

Southern Copper Co. (NYSE:SCCO – Get Free Report) Director Bonilla Luis Miguel Palomino sold 100 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $119.50, for a total transaction of $11,950.00. Following the completion of the transaction, the director now owns 2,214 shares in the company, valued at $264,573. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Bonilla Luis Miguel Palomino also recently made the following trade(s):

  • On Tuesday, September 17th, Bonilla Luis Miguel Palomino sold 100 shares of Southern Copper stock. The stock was sold at an average price of $100.00, for a total transaction of $10,000.00.
  • On Monday, August 26th, Bonilla Luis Miguel Palomino sold 100 shares of Southern Copper stock. The shares were sold at an average price of $105.13, for a total transaction of $10,513.00.
  • On Thursday, August 8th, Bonilla Luis Miguel Palomino sold 100 shares of Southern Copper stock. The shares were sold at an average price of $99.60, for a total transaction of $9,960.00.

Southern Copper Stock Down 1.3 %

Shares of NYSE:SCCO opened at $118.87 on Friday. The stock has a market cap of $92.86 billion, a P/E ratio of 39.51, a P/E/G ratio of 1.17 and a beta of 1.17. The firm has a fifty day moving average price of $102.48 and a 200 day moving average price of $108.81. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.81 and a quick ratio of 2.27. Southern Copper Co. has a 1-year low of $68.93 and a 1-year high of $129.79.

Southern Copper (NYSE:SCCO – Get Free Report) last issued its quarterly earnings results on Friday, July 19th. The basic materials company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.09. The firm had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $2.96 billion. Southern Copper had a net margin of 26.15% and a return on equity of 34.98%. Sell-side analysts predict that Southern Copper Co. will post 4.29 EPS for the current year.

Southern Copper Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were given a dividend of $0.60 per share. The ex-dividend date was Friday, August 9th. This represents a $2.40 dividend on an annualized basis and a yield of 2.02%. Southern Copper’s payout ratio is currently 79.77%.

Institutional Trading of Southern Copper

Hedge funds and other institutional investors have recently made changes to their positions in the company. Capital World Investors purchased a new position in Southern Copper during the first quarter worth about $340,373,000. Price T Rowe Associates Inc. MD raised its stake in shares of Southern Copper by 18.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,771,332 shares of the basic materials company’s stock worth $827,804,000 after buying an additional 1,192,111 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Southern Copper by 54.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,541,396 shares of the basic materials company’s stock valued at $164,190,000 after buying an additional 544,312 shares during the period. Los Angeles Capital Management LLC boosted its stake in shares of Southern Copper by 1,300.4% in the second quarter. Los Angeles Capital Management LLC now owns 443,285 shares of the basic materials company’s stock valued at $47,760,000 after buying an additional 411,630 shares in the last quarter. Finally, Lord Abbett & CO. LLC acquired a new position in Southern Copper during the first quarter worth $27,163,000. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Morgan Stanley upped their target price on shares of Southern Copper from $97.00 to $100.00 and gave the company an “underweight” rating in a report on Thursday, September 19th. UBS Group assumed coverage on shares of Southern Copper in a report on Friday, July 12th. They issued a “neutral” rating and a $120.00 target price for the company. Five investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $89.57.

Read Our Latest Analysis on Southern Copper

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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