Insider Selling: Southern Copper Co. (NYSE:SCCO) Director Sells 100 Shares of Stock

Southern Copper Co. (NYSE:SCCO) Director Bonilla Luis Miguel Palomino sold 100 shares of the business’s 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 sale, the director now directly owns 2,214 shares in the company, valued at $264,573. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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 shares were 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 stock was 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 stock was sold at an average price of $99.60, for a total transaction of $9,960.00.

Southern Copper Stock Down 1.2 %

NYSE SCCO traded down $1.45 on Friday, hitting $118.99. 1,665,458 shares of the stock were exchanged, compared to its average volume of 1,183,627. The company has a quick ratio of 2.27, a current ratio of 2.81 and a debt-to-equity ratio of 0.67. Southern Copper Co. has a fifty-two week low of $68.93 and a fifty-two week high of $129.79. The company has a market cap of $92.95 billion, a PE ratio of 39.51, a PEG ratio of 1.09 and a beta of 1.17. The company has a 50-day moving average price of $102.19 and a 200-day moving average price of $108.43.

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

Southern Copper Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend was Friday, August 9th. Southern Copper’s payout ratio is 79.77%.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SCCO. Fortis Group Advisors LLC boosted its holdings in shares of Southern Copper by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 302 shares of the basic materials company’s stock valued at $26,000 after buying an additional 151 shares in the last quarter. Fidelis Capital Partners LLC acquired a new position in shares of Southern Copper in the 1st quarter valued at $26,000. Riverview Trust Co acquired a new position in shares of Southern Copper in the 1st quarter valued at $27,000. Itau Unibanco Holding S.A. acquired a new stake in Southern Copper during the 2nd quarter worth $31,000. Finally, Hanseatic Management Services Inc. acquired a new stake in Southern Copper during the 2nd quarter worth $53,000. Institutional investors and hedge funds own 7.94% of the company’s stock.

Southern Copper Company Profile

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.