Here is the rundown on market activity for Southern Copper Corporation Com (NYSE:SCCO). Bonilla Luis Miguel Palomino, Director disclosed the purchase of 300 shares of SCCO stock. The shares were bought on June 8th for an average price of $35.00. The Director now owns $217,490 of the stock per the Form 4 SEC filing. Director Bonilla Luis Miguel Palomino disclosed the sale of 600 shares of (SCCO). The shares were purchased at an average price of $33.15. Palomino now owns $186,104 of the stock according to the SEC filing.
Director Quintanilla Daniel Muniz sold 1,200 shares at an average price of $25.97 on Thu the 11th. The Director now owns $0 of the stock as reported to the SEC.
Southern Copper Corporation, launched on September 7, 1995, is an integrated copper producer. The Company principally produces copper and, in the production process, obtains several by-products, including molybdenum, silver, zinc, sulfuric acid and other metals. It operates through three segments: the Peruvian operations, the Mexican open-pit operations and the Mexican underground mining operations segment identified as the IMMSA unit. The Peruvian operations segment includes the Toquepala and Cuajone mine complexes, and the smelting and refining plants, including a metals plant industrial railroad and port facilities that service both mines. The Mexican open-pit operations segment includes the La Caridad and Buenavista mine complexes, and the smelting and refining plants, including a metals plant and a copper rod plant, and support facilities that service both mines. As of December 31, 2016, the Mexican underground mining operations segment included five underground mines that produce zinc, copper, silver and gold, a coal mine and a zinc refinery. The Business’s operations include open-pit and underground mining, concentrating, copper smelting, copper refining, copper rod production, solvent extraction/electrowinning (SX-EW), zinc refining, sulfuric acid production, molybdenum concentrate production, and silver and gold refining..
Here are a few other firms who have also updated their positions. As of the end of the quarter Clearbridge Investments, LLC had sold 54 shares trimming its holdings by 25.7%. The value of the investment in Southern Copper Corporation Com decreased from $7,000 to $6,000 a change of $1,000 for the reporting period. Proficio Capital Partners LLC expanded its investment by buying 98 shares an increase of 96.1% from 12/31/2016 to 03/31/2017. Proficio Capital Partners LLC controls 200 shares worth $7,000. The total value of its holdings increased 133.3%.
As of quarter end Tower Research Capital LLC (trc) had disposed of a total of 31 shares trimming its position 4.6%. The value of the company’s investment in Southern Copper Corporation Com went from $21,000 to $23,000 a change of 9.5% since the last quarter. Goldman Sachs Group Inc bolstered its ownership by buying 20,177 shares an increase of 12.2% as of 03/31/2017. Goldman Sachs Group Inc currently owns 186,124 shares with a value of $6,680,000. The value of the position overall is up by 26.0%.
On December 13, 2016 the stock rating was set at “Underweight” by Morgan Stanley which is down from the previous “” rating. On December 7 the company was upgraded to “Neutral” from “Underperform” and a price target of $32.00 was set in an announcement from Credit Suisse.
Credit Suisse raised the price target and upgraded the stock on December 7 changing the price objective from $20.00 to $32.00 and setting the rating at “Neutral” which had previously been “Underperform”. On August 26 the company was rated “Hold” according to a HSBC report which was a boost from the previous “Buy” rating.
On July 1 the stock rating was downgraded from “” to “Underperform” with a current price target of $20.00 by Credit Suisse. Goldman Sachs began coverage of SCCO with an initial rating of “Neutral” and setting a price target of $27.00.
The company is so far trading down by -1.08 percent from yesterday’s close. The company also recently declared a dividend that was paid on Wednesday the 31st of May 2017. The dividend was $0.120 per share for the quarter or $0.48 on an annualized basis. This dividend represents a yield of $1.32. The ex-dividend date was Monday the 15th of May 2017.
It is trading at $35.88 barely above the 50 day moving average which is $34.80 and which is marginally over the 200 day moving average of $35.33. The 50 day moving average was up $1.08 or +3.11% whereas the 200 day moving average was up $0.55 or +1.56%.
The P/E ratio is currently 30.64 and market capitalization is 27.74B. In the last earnings report the EPS was $1.17 and is projected to be $1.69 for the current year with 773,016,000 shares outstanding. Next quarter’s EPS is estimated at $0.45 and the next full year EPS is anticipated to be $1.97.