Southern Copper Co. (NYSE:SCCO) Director Sells $11,020.00 in 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 Wednesday, April 3rd. The stock was sold at an average price of $110.20, for a total value of $11,020.00. Following the sale, the director now owns 4,914 shares of the company’s stock, valued at $541,522.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Wednesday, March 13th, Bonilla Luis Miguel Palomino sold 100 shares of Southern Copper stock. The stock was sold at an average price of $87.10, for a total value of $8,710.00.
• On Monday, March 4th, Bonilla Luis Miguel Palomino sold 100 shares of Southern Copper stock. The stock was sold at an average price of $81.50, for a total value of $8,150.00.

Southern Copper Price Performance

SCCO stock opened at $110.29 on Friday. The company has a debt-to-equity ratio of 0.84, a current ratio of 3.19 and a quick ratio of 2.46. The business has a 50 day simple moving average of $90.15 and a 200-day simple moving average of $81.48. The firm has a market capitalization of $85.27 billion, a PE ratio of 35.12 and a beta of 1.29. Southern Copper Co. has a 1 year low of $64.66 and a 1 year high of $112.35.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings results on Friday, February 2nd. The basic materials company reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.15). Southern Copper had a net margin of 24.51% and a return on equity of 30.85%. The company had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.37 billion. Equities research analysts anticipate that Southern Copper Co. will post 3.67 earnings per share for the current fiscal year.

Southern Copper Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Tuesday, February 13th were given a $0.80 dividend. The ex-dividend date of this dividend was Monday, February 12th. This represents a $3.20 annualized dividend and a yield of 2.90%. Southern Copper’s payout ratio is 101.91%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SCCO. Bank of New York Mellon Corp grew its position in Southern Copper by 1.3% in the first quarter. Bank of New York Mellon Corp now owns 283,570 shares of the basic materials company’s stock worth $21,523,000 after acquiring an additional 3,611 shares during the period. American Century Companies Inc. grew its position in Southern Copper by 48.3% in the first quarter. American Century Companies Inc. now owns 11,974 shares of the basic materials company’s stock worth $909,000 after acquiring an additional 3,901 shares during the period. MetLife Investment Management LLC purchased a new position in Southern Copper in the first quarter worth approximately $388,000. Rhumbline Advisers grew its position in Southern Copper by 121.4% in the first quarter. Rhumbline Advisers now owns 173,100 shares of the basic materials company’s stock worth $13,138,000 after acquiring an additional 94,910 shares during the period. Finally, BlackRock Inc. grew its position in Southern Copper by 10.7% in the first quarter. BlackRock Inc. now owns 7,022,108 shares of the basic materials company’s stock worth $532,978,000 after acquiring an additional 680,165 shares during the period. 7.94% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on SCCO shares. JPMorgan Chase & Co. cut their price objective on Southern Copper from $63.50 to $61.00 and set an “underweight” rating for the company in a research note on Thursday, March 21st. StockNews.com lowered Southern Copper from a “buy” rating to a “hold” rating in a research note on Monday, February 5th. Jefferies Financial Group upgraded Southern Copper from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $91.00 to $130.00 in a research note on Friday, March 22nd. Finally, The Goldman Sachs Group upped their price target on Southern Copper from $61.00 to $82.00 and gave the company a “sell” rating in a research report on Friday, March 22nd. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Southern Copper presently has an average rating of “Hold” and an average price target of $76.83.

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.