Insider Selling: Southern Copper (NYSE:SCCO) Director Sells 193 Shares of Stock

Key Points

• Director Bonilla sold 193 shares on March 13 at an average price of $174.60, totaling $33,697.80 and reducing his ownership by 10.16% to 1,707 shares (about $298,042).
• Southern Copper raised its quarterly dividend to $1.00 (from $0.90), implying a $4.00 annualized payout and roughly a 2.4% yield with a payout ratio near 75.2%.
• Analyst sentiment is negative—the consensus rating is "Reduce" with a $139.99 target and multiple sell/underweight calls, while the stock recently traded around $166.60 with a 12‑month range of $74.84–$223.88.

Southern Copper Corporation (NYSE:SCCO - Get Free Report) Director Bonilla Luis Miguel Palomino sold 193 shares of the business's stock in a transaction on Friday, March 13th. The stock was sold at an average price of $174.60, for a total value of $33,697.80. Following the sale, the director owned 1,707 shares in the company, valued at approximately $298,042.20. The trade was a 10.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

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

• On Thursday, March 12th, Bonilla Luis Miguel Palomino sold 7 shares of Southern Copper stock. The shares were sold at an average price of $190.00, for a total value of $1,330.00.

Southern Copper Price Performance

Shares of NYSE:SCCO traded down $10.42 during midday trading on Wednesday, hitting $166.60. 2,014,370 shares of the stock were exchanged, compared to its average volume of 2,205,283. The stock has a market cap of $135.31 billion, a P/E ratio of 31.32, a PEG ratio of 1.83 and a beta of 1.03. The company has a current ratio of 3.89, a quick ratio of 3.40 and a debt-to-equity ratio of 0.61. Southern Copper Corporation has a twelve month low of $74.84 and a twelve month high of $223.88. The company has a 50 day moving average price of $191.51 and a 200-day moving average price of $150.73.

Southern Copper (NYSE:SCCO - Get Free Report) last issued its quarterly earnings data on Wednesday, January 28th. The basic materials company reported $1.55 EPS for the quarter, beating analysts' consensus estimates of $1.54 by $0.01. Southern Copper had a net margin of 32.30% and a return on equity of 41.97%. The firm had revenue of $3.87 billion for the quarter, compared to analysts' expectations of $3.73 billion. During the same period in the prior year, the company earned $0.98 EPS. On average, research analysts forecast that Southern Copper Corporation will post 4.66 earnings per share for the current year.

Southern Copper Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Tuesday, February 10th were given a $1.00 dividend. This is a boost from Southern Copper's previous quarterly dividend of $0.90. This represents a $4.00 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Tuesday, February 10th. Southern Copper's dividend payout ratio (DPR) is currently 75.19%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Hopwood Financial Services Inc. purchased a new stake in shares of Southern Copper in the third quarter valued at $25,000. SHP Wealth Management purchased a new position in Southern Copper during the fourth quarter worth about $25,000. MJT & Associates Financial Advisory Group Inc. boosted its stake in Southern Copper by 65.1% in the 3rd quarter. MJT & Associates Financial Advisory Group Inc. now owns 213 shares of the basic materials company's stock worth $26,000 after buying an additional 84 shares during the last quarter. Lloyd Advisory Services LLC. purchased a new stake in Southern Copper in the 4th quarter valued at about $29,000. Finally, Virtus Advisers LLC acquired a new position in shares of Southern Copper during the 4th quarter valued at about $29,000. Hedge funds and other institutional investors own 7.94% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on SCCO shares. The Goldman Sachs Group reaffirmed a "sell" rating and issued a $127.91 target price on shares of Southern Copper in a research note on Wednesday, January 14th. Scotiabank reissued an "underperform" rating on shares of Southern Copper in a report on Tuesday, January 27th. Wall Street Zen downgraded Southern Copper from a "buy" rating to a "hold" rating in a research report on Sunday, March 1st. JPMorgan Chase & Co. reiterated an "underweight" rating and set a $116.51 price objective (down from $118.49) on shares of Southern Copper in a research report on Friday, January 23rd. Finally, Morgan Stanley reissued an "underweight" rating and issued a $154.69 target price on shares of Southern Copper in a research note on Friday, January 30th. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and eight have assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Reduce" and a consensus target price of $139.99.

Southern Copper Company Profile

Southern Copper Corporation NYSE: SCCO is a large, integrated copper producer whose operations span the full value chain from exploration and mining to smelting, refining and the sale of copper and other metal products. The company produces a range of copper products including copper concentrate and refined cathodes, and recovers valuable byproducts such as molybdenum, silver and zinc. Southern Copper concentrates on high-volume, long-life assets designed to support steady production and processing capabilities.

Southern Copper's operations are concentrated in Peru and Mexico, where it owns and operates multiple large-scale mining and processing facilities.

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