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 firm’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $103.68, for a total value of $10,471.68. Following the sale, the director now directly owns 2,513 shares of the company’s stock, valued at approximately $260,547.84. This represents a 3.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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 value 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 value 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 value of $10,513.00.

Southern Copper Stock Performance

Shares of SCCO opened at $102.98 on Thursday. Southern Copper Co. has a 12-month low of $70.63 and a 12-month high of $129.79. The company has a current ratio of 2.77, a quick ratio of 2.31 and a debt-to-equity ratio of 0.64. The company has a 50-day moving average of $110.17 and a two-hundred day moving average of $109.27. The stock has a market cap of $80.89 billion, a P/E ratio of 26.51, a PEG ratio of 1.07 and a beta of 1.18.

Southern Copper Dividend Announcement

The business also recently declared a — dividend, which will be paid on Thursday, November 21st. Shareholders of record on Wednesday, November 6th will be issued a $0.62 dividend. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a dividend yield of 2.1%. Southern Copper’s dividend payout ratio (DPR) is presently 72.09%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Creative Financial Designs Inc. ADV grew its position in shares of 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 worth $26,000 after acquiring an additional 141 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new stake in shares of Southern Copper in the second quarter worth $31,000. McClarren Financial Advisors Inc. lifted 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 worth $33,000 after buying an additional 181 shares in the last quarter. Oakworth Capital Inc. acquired a new position in Southern Copper in the 3rd quarter worth about $42,000. Finally, Prospera Private Wealth LLC acquired a new position in shares of Southern Copper during the 3rd quarter worth $47,000. 7.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

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.