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 company’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $118.50, for a total value of $35,550.00. Following the completion of the transaction, the director now directly owns 4,614 shares in the company, valued at $546,759. The sale was disclosed in a filing with the SEC, which is available through this link.

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 shares were sold at an average price of $110.20, for a total value 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 value 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 value of $8,150.00.

Southern Copper Price Performance

Shares of SCCO stock opened at $116.67 on Wednesday. The company has a quick ratio of 2.46, a current ratio of 3.19 and a debt-to-equity ratio of 0.84. Southern Copper Co. has a twelve month low of $64.66 and a twelve month high of $121.00. The company has a market cap of $90.20 billion, a P/E ratio of 38.38, a P/E/G ratio of 3.35 and a beta of 1.29. The business has a fifty day simple moving average of $101.24 and a 200 day simple moving average of $86.36.

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

Wall Street Analyst Weigh In

SCCO has been the topic of a number of research reports. The Goldman Sachs Group upped their price objective on Southern Copper from $61.00 to $82.00 and gave the company a “sell” rating in a report on Friday, March 22nd. JPMorgan Chase & Co. decreased their price objective on Southern Copper from $63.50 to $61.00 and set an “underweight” rating on the stock in a report on Thursday, March 21st. Jefferies Financial Group raised Southern Copper from a “hold” rating to a “buy” rating and increased their target price for the stock from $91.00 to $130.00 in a report on Friday, March 22nd. Morgan Stanley increased their target price on Southern Copper from $123.00 to $135.00 and gave the stock an “underweight” rating in a report on Tuesday. Finally, StockNews.com raised Southern Copper from a “hold” rating to a “buy” rating in a report on Monday. Five analysts have rated the stock with a sell rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $85.57.

Institutional Trading of Southern Copper

Several institutional investors and hedge funds have recently modified their holdings of SCCO. Hartford Financial Management Inc. bought a new stake in shares of Southern Copper during the 3rd quarter worth $25,000. Fortis Group Advisors LLC raised its position in Southern Copper by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 302 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 151 shares during the last quarter. Riverview Trust Co bought a new position in Southern Copper in the first quarter valued at about $27,000. Viking Fund Management LLC bought a new position in Southern Copper in the fourth quarter valued at about $31,000. Finally, Venturi Wealth Management LLC raised its position in Southern Copper by 164.8% in the fourth quarter. Venturi Wealth Management LLC now owns 482 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 300 shares during the last quarter. 7.94% of the stock is currently owned by 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.