Bonilla Luis Miguel Palomino Sells 300 Shares of Southern Copper Co. (NYSE:SCCO) Stock

Southern Copper Co. (NYSE:SCCO) Director Bonilla Luis Miguel Palomino sold 300 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $118.50, for a total transaction of $35,550.00. Following the sale, the director now owns 4,614 shares in the company, valued at $546,759. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Wednesday, April 3rd, Bonilla Luis Miguel Palomino sold 100 shares of Southern Copper stock. The stock was sold at an average price of $110.20, for a total transaction of $11,020.00.
• 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 stock was sold at an average price of $81.50, for a total value of $8,150.00.

Southern Copper Stock Performance

SCCO stock traded up $3.91 during midday trading on Monday, reaching $120.85. 1,838,119 shares of the company were exchanged, compared to its average volume of 1,158,105. Southern Copper Co. has a one year low of $64.66 and a one year high of $121.00. The firm has a market capitalization of $93.43 billion, a price-to-earnings ratio of 39.75, a price-to-earnings-growth ratio of 3.35 and a beta of 1.29. The business has a 50-day moving average price of $100.55 and a two-hundred day moving average price of $86.04. The company has a debt-to-equity ratio of 0.84, a current ratio of 3.19 and a quick ratio of 2.46.

Southern Copper (NYSE:SCCO) last announced its earnings results on Friday, February 2nd. The basic materials company reported $0.58 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.15). The company had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.37 billion. Southern Copper had a return on equity of 30.29% and a net margin of 24.20%. Equities research analysts forecast that Southern Copper Co. will post 3.95 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SCCO. Jefferies Financial Group upgraded Southern Copper from a “hold” rating to a “buy” rating and boosted their price target for the company from $91.00 to $130.00 in a report on Friday, March 22nd. CICC Research began coverage on shares of Southern Copper in a research report on Wednesday, April 24th. They issued an “outperform” rating for the company. HSBC cut shares of Southern Copper from a “hold” rating to a “reduce” rating and set a $80.00 price target on the stock. in a research report on Monday, April 22nd. JPMorgan Chase & Co. decreased their price objective on Southern Copper from $63.50 to $61.00 and set an “underweight” rating for the company in a report on Thursday, March 21st. Finally, Scotiabank upped their target price on Southern Copper from $53.00 to $55.00 and gave the stock a “sector underperform” rating in a report on Thursday, April 18th. Five investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $76.00.

Institutional Investors Weigh In On Southern Copper

Hedge funds and other institutional investors have recently modified their holdings of the company. AE Wealth Management LLC bought a new stake in Southern Copper in the 3rd quarter valued at about $215,000. Exchange Traded Concepts LLC boosted its holdings in shares of Southern Copper by 117.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 7,442 shares of the basic materials company’s stock valued at $560,000 after acquiring an additional 4,020 shares in the last quarter. Commonwealth Equity Services LLC grew its position in Southern Copper by 4.8% during the 3rd quarter. Commonwealth Equity Services LLC now owns 22,268 shares of the basic materials company’s stock worth $1,677,000 after acquiring an additional 1,030 shares during the last quarter. Ulland Investment Advisors LLC acquired a new position in Southern Copper in the 3rd quarter worth about $200,000. Finally, SVB Wealth LLC bought a new position in Southern Copper in the third quarter valued at about $202,000. 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.