Bonilla Luis Miguel Palomino Sells 101 Shares of Southern Copper Co. (NYSE:SCCO) Stock

Southern Copper Co. (NYSE:SCCO) Director Bonilla Luis Miguel Palomino sold 101 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $103.68, for a total transaction of $10,471.68. Following the completion of the sale, the director now directly owns 2,513 shares of the company’s stock, valued at $260,547.84. This represents a 3.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Thursday, September 26th, Bonilla Luis Miguel Palomino sold 100 shares of Southern Copper stock. The stock was sold at an average price of $119.50, for a total transaction of $11,950.00.
• On Tuesday, September 17th, Bonilla Luis Miguel Palomino sold 100 shares of Southern Copper stock. The stock was 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.

Southern Copper Trading Down 0.3 %

Shares of Southern Copper stock opened at $100.37 on Friday. The stock has a market capitalization of $78.84 billion, a P/E ratio of 25.93, a price-to-earnings-growth ratio of 1.07 and a beta of 1.18. The company has a quick ratio of 2.31, a current ratio of 2.77 and a debt-to-equity ratio of 0.64. The company has a 50-day simple moving average of $110.22 and a 200 day simple moving average of $109.21. Southern Copper Co. has a 12-month low of $70.63 and a 12-month high of $129.79.

Southern Copper Dividend Announcement

The company also recently announced a — dividend, which was paid on Thursday, November 21st. Investors of record on Wednesday, November 6th were given a dividend of $0.62 per share. This represents a dividend yield of 2.1%. The ex-dividend date was Wednesday, November 6th. Southern Copper’s dividend payout ratio (DPR) is currently 72.09%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SCCO. Morgan Stanley upped their price objective on shares of Southern Copper from $97.00 to $100.00 and gave the stock an “underweight” rating in a report on Thursday, September 19th. Scotiabank decreased their price objective on shares of Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating for the company in a report on Tuesday, October 15th. Finally, Citigroup upped their price objective on shares of Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a report on Wednesday, October 2nd. Six analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $90.63.

Institutional Investors Weigh In On Southern Copper

A number of hedge funds have recently made changes to their positions in SCCO. Creative Financial Designs Inc. ADV increased its position in Southern Copper by 172.0% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 223 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 141 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new stake in Southern Copper in the 2nd quarter valued at about $31,000. McClarren Financial Advisors Inc. increased its position in Southern Copper by 169.2% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 288 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 181 shares in the last quarter. Oakworth Capital Inc. acquired a new stake in Southern Copper in the 3rd quarter valued at about $42,000. Finally, Prospera Private Wealth LLC acquired a new stake in Southern Copper in the 3rd quarter valued at about $47,000. Institutional investors and hedge funds own 7.94% of the company’s stock.

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.