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

Southern Copper Co. (NYSE:SCCO - Get Free Report) Director Bonilla Luis Miguel Palomino sold 100 shares of Southern Copper stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $110.20, for a total transaction of $11,020.00. Following the transaction, the director now directly owns 4,914 shares of the company's stock, valued at $541,522.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

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

Southern Copper Stock Performance

Shares of SCCO traded down $1.63 during mid-day trading on Thursday, hitting $109.60. 1,483,185 shares of the company traded hands, compared to its average volume of 1,087,853. The company has a debt-to-equity ratio of 0.84, a quick ratio of 2.46 and a current ratio of 3.19. The stock has a 50-day moving average price of $89.09 and a two-hundred day moving average price of $81.05. Southern Copper Co. has a 1 year low of $64.66 and a 1 year high of $112.35. The stock has a market cap of $84.73 billion, a price-to-earnings ratio of 34.90 and a beta of 1.29.

Southern Copper (NYSE:SCCO - Get Free Report) last announced its earnings results on Friday, February 2nd. The basic materials company reported $0.58 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 business had revenue of $2.30 billion for the quarter, compared to analysts' expectations of $2.37 billion. Equities analysts anticipate that Southern Copper Co. will post 3.67 earnings per share for the current year.

Southern Copper Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Tuesday, February 13th were issued a dividend of $0.80 per share. The ex-dividend date was Monday, February 12th. This represents a $3.20 dividend on an annualized basis and a yield of 2.92%. Southern Copper's dividend payout ratio is currently 101.91%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on SCCO shares. JPMorgan Chase & Co. decreased their target price on shares of Southern Copper from $63.50 to $61.00 and set an "underweight" rating for the company in a report on Thursday, March 21st. The Goldman Sachs Group lifted their target price on shares of Southern Copper from $61.00 to $82.00 and gave the stock a "sell" rating in a report on Friday, March 22nd. StockNews.com cut shares of Southern Copper from a "buy" rating to a "hold" rating in a report on Monday, February 5th. Finally, Jefferies Financial Group raised shares of Southern Copper from a "hold" rating to a "buy" rating and lifted their target price for the stock from $91.00 to $130.00 in a report on Friday, March 22nd. Three analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Southern Copper has an average rating of "Hold" and a consensus target price of $76.83.

Institutional Trading of Southern Copper

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC increased its holdings in Southern Copper by 7.0% during the third quarter. AQR Capital Management LLC now owns 80,682 shares of the basic materials company's stock valued at $6,075,000 after buying an additional 5,296 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of Southern Copper by 17.5% in the third quarter. Ameriprise Financial Inc. now owns 687,501 shares of the basic materials company's stock worth $51,854,000 after purchasing an additional 102,286 shares in the last quarter. Viking Fund Management LLC purchased a new stake in shares of Southern Copper in the fourth quarter worth $31,000. LPL Financial LLC increased its stake in shares of Southern Copper by 22.1% in the third quarter. LPL Financial LLC now owns 89,468 shares of the basic materials company's stock worth $6,736,000 after purchasing an additional 16,168 shares in the last quarter. Finally, Nordea Investment Management AB increased its stake in shares of Southern Copper by 1.3% in the fourth quarter. Nordea Investment Management AB now owns 51,747 shares of the basic materials company's stock worth $4,426,000 after purchasing an additional 684 shares in the last quarter. 7.94% of the stock is owned by hedge funds and other institutional investors.

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.