Insider Selling: Southern Copper Co. (NYSE:SCCO) Director Sells $11,950.00 in Stock

Southern Copper Co. (NYSE:SCCO) Director Bonilla Luis Miguel Palomino sold 100 shares of the firm’s stock in a transaction dated 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 owns 2,214 shares of the company’s stock, valued at approximately $264,573. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 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 Performance

NYSE:SCCO opened at $118.87 on Monday. The firm has a 50 day simple moving average of $102.48 and a 200-day simple moving average of $108.90. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.81 and a quick ratio of 2.27. The firm has a market cap of $92.86 billion, a PE ratio of 39.51, a P/E/G ratio of 1.17 and a beta of 1.17. Southern Copper Co. has a 1-year low of $68.93 and a 1-year high of $129.79.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings data on Friday, July 19th. The basic materials company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.09. The business had revenue of $3.12 billion during the quarter, compared to analyst estimates of $2.96 billion. Southern Copper had a net margin of 26.15% and a return on equity of 34.98%. On average, equities analysts expect that Southern Copper Co. will post 4.29 EPS for the current year.

Southern Copper Announces Dividend

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

Hedge Funds Weigh In On Southern Copper

A number of institutional investors have recently modified their holdings of the company. Fortis Group Advisors LLC grew its holdings in Southern Copper by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 302 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 151 shares during the period. Fidelis Capital Partners LLC purchased a new stake in Southern Copper in the first quarter valued at approximately $26,000. Riverview Trust Co purchased a new stake in Southern Copper in the first quarter valued at approximately $27,000. Itau Unibanco Holding S.A. purchased a new stake in Southern Copper in the second quarter valued at approximately $31,000. Finally, Hanseatic Management Services Inc. purchased a new stake in Southern Copper in the second quarter valued at approximately $53,000. Institutional investors and hedge funds own 7.94% of the company’s stock.

Wall Street Analyst Weigh In

SCCO has been the subject of a number of research reports. Morgan Stanley lifted their target price on shares of Southern Copper from $97.00 to $100.00 and gave the stock an “underweight” rating in a research report on Thursday, September 19th. UBS Group initiated coverage on shares of Southern Copper in a research report on Friday, July 12th. They set 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 issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $89.57.

About Southern Copper

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.