Southern Copper Corporation (NYSE:SCCO – Get Free Report) Director Luis Palomino Bonilla sold 100 shares of the company’s stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $210.00, for a total transaction of $21,000.00. Following the completion of the transaction, the director owned 1,503 shares in the company, valued at approximately $315,630. The trade was a 6.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Bonilla Luis Miguel Palomino also recently made the following trade(s):
- On Friday, September 4th, Luis Palomino Bonilla sold 100 shares of Southern Copper stock. The shares were sold at an average price of $200.00, for a total transaction of $20,000.00.
- On Tuesday, August 4th, Luis Palomino Bonilla sold 101 shares of Southern Copper stock. The stock was sold at an average price of $192.69, for a total transaction of $19,461.46.
- On Wednesday, August 5th, Luis Palomino Bonilla sold 202 shares of Southern Copper stock. The stock was sold at an average price of $196.79, for a total transaction of $39,751.28.
- On Friday, July 24th, Luis Palomino Bonilla sold 101 shares of Southern Copper stock. The stock was sold at an average price of $176.88, for a total transaction of $17,864.62.
Southern Copper Trading Down 0.5%
Shares of NYSE SCCO opened at $193.22 on Friday. The firm’s 50 day moving average price is $190.63 and its 200-day moving average price is $184.33. Southern Copper Corporation has a 52-week low of $104.98 and a 52-week high of $223.88. The company has a debt-to-equity ratio of 0.63, a quick ratio of 4.56 and a current ratio of 5.06. The company has a market cap of $161.21 billion, a PE ratio of 28.25, a P/E/G ratio of 1.73 and a beta of 1.14.
Southern Copper Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Shareholders of record on Tuesday, August 11th were issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Tuesday, August 11th. This is a positive change from Southern Copper’s previous quarterly dividend of $1.00. Southern Copper’s dividend payout ratio is 64.33%.
Institutional Trading of Southern Copper
Several large investors have recently modified their holdings of the company. California State Teachers Retirement System increased its holdings in Southern Copper by 8,035.9% during the second quarter. California State Teachers Retirement System now owns 20,545,080 shares of the basic materials company’s stock valued at $3,580,186,000 after buying an additional 20,292,556 shares during the last quarter. BlackRock Inc. bought a new position in Southern Copper in the second quarter worth approximately $1,729,500,000. Bank of America Corp DE purchased a new position in shares of Southern Copper during the 2nd quarter worth $318,448,000. Legal & General Group Plc purchased a new position in shares of Southern Copper during the 2nd quarter worth $149,739,000. Finally, Norges Bank bought a new stake in shares of Southern Copper during the 4th quarter valued at $97,645,000. Institutional investors own 7.94% of the company’s stock.
Southern Copper News Roundup
Here are the key news stories impacting Southern Copper this week:
- Positive Sentiment: Southern Copper retains a favorable long-term outlook because tight mine supply could benefit producers if demand from artificial-intelligence data centers, power-grid upgrades and renewable infrastructure remains strong. The company also recently raised its quarterly dividend to $1.10 per share, or $4.40 annualized. Copper demand and Southern Copper outlook
- Positive Sentiment: Recent earnings momentum remains supportive: Southern Copper reported quarterly EPS of $1.99, exceeding the $1.93 consensus estimate, while revenue increased 40.6% year over year. Zacks continues to identify SCCO as a momentum stock for longer-term investors. Southern Copper momentum analysis
- Neutral Sentiment: Director Luis Palomino Bonilla sold 100 shares for approximately $21,000 at $210 per share, reducing his position by 6.24%. The sale follows several earlier disposals but leaves him with 1,503 shares, making the latest transaction relatively small. Southern Copper insider sale
- Negative Sentiment: Copper’s retreat and uncertainty over refined-copper tariffs pressured SCCO and peer miners. Elevated prices may also be curbing demand, with Chinese imports reportedly at a six-year low for August. Copper miners tariff-related decline
- Negative Sentiment: Valuation adds downside risk: SCCO trades near 28 times earnings, while the analyst consensus is “Reduce” with an average price target of about $146.84, well below recent trading levels. Southern Copper analyst forecast
Analysts Set New Price Targets
A number of research analysts have recently issued reports on SCCO shares. Weiss Ratings raised Southern Copper from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, July 28th. UBS Group reiterated a “sell” rating and issued a $158.10 price objective (up from $143.28) on shares of Southern Copper in a report on Tuesday, June 30th. Morgan Stanley upped their target price on shares of Southern Copper from $144.27 to $156.13 and gave the company an “underweight” rating in a research note on Wednesday, July 8th. CICC Research downgraded shares of Southern Copper to a “market perform” rating in a report on Sunday, July 26th. Finally, Wall Street Zen lowered shares of Southern Copper from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and seven have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $146.84.
Read Our Latest Analysis on SCCO
Southern Copper Company Profile
Southern Copper Corporation (NYSE: SCCO) is an integrated copper producer engaged in the exploration, mining, processing, smelting and refining of minerals. The company produces copper in the form of cathodes, concentrates and anodes, along with byproducts including molybdenum, zinc, silver, lead and sulfuric acid.
Southern Copper operates mining and processing facilities in Mexico and Peru. Its principal Mexican operations include the Buenavista del Cobre and La Caridad mining complexes, while its Peruvian operations include the Toquepala and Cuajone mines and the Ilo smelter and refinery.
Featured Articles
- Five stocks we like better than Southern Copper
- Rocket Lab Tackles a Supply Chain Bottleneck as the Stock Hunts for a Bottom. Time to Buy?
- Optical Cable Corporation Is Starting to Get the Market’s Attention
- Oil Above $100 Is Creating a New Opportunity Beyond the Major Producers
- Is Nike’s Index Demotion a Warning or a Buying Opportunity?
Receive News & Ratings for Southern Copper Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southern Copper and related companies with MarketBeat.com's FREE daily email newsletter.
