Insider Selling: Morales Luis Castelazo Sells 1,000 Shares of Southern Copper Corp Stock (SCCO)
Southern Copper Corp (NASDAQ:SCCO) Director Morales Luis Castelazo unloaded 1,000 shares of the company’s stock on the open market in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $33.80, for a total value of $33,800.00. Following the completion of the sale, the director now directly owns 2,025 shares of the company’s stock, valued at approximately $68,445. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
SCCO has been the subject of a number of recent research reports. Analysts at BMO Capital Markets upgraded shares of Southern Copper Corp from a “market perform” rating to an “outperform” rating in a research note on Monday, July 7th. They now have a $40.00 price target on the stock, up previously from $30.00. Separately, analysts at TheStreet downgraded shares of Southern Copper Corp from a “buy” rating to a “hold” rating in a research note on Tuesday, May 13th. Finally, analysts at Bank of America downgraded shares of Southern Copper Corp from a “buy” rating to a “neutral” rating in a research note on Thursday, April 24th. They now have a $32.00 price target on the stock, down previously from $32.50. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Southern Copper Corp presently has an average rating of “Hold” and a consensus price target of $33.64.
Southern Copper Corp (NASDAQ:SCCO) traded up 0.36% during mid-day trading on Monday, hitting $33.10. The stock had a trading volume of 1,366,610 shares. Southern Copper Corp has a 52-week low of $24.50 and a 52-week high of $33.90. The stock’s 50-day moving average is $30.26 and its 200-day moving average is $29.50. The company has a market cap of $27.587 billion and a P/E ratio of 19.14.
Southern Copper Corp (NASDAQ:SCCO) last announced its earnings results on Tuesday, May 20th. The company reported $0.39 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.44 by $0.05. On average, analysts predict that Southern Copper Corp will post $1.74 earnings per share for the current fiscal year.
Southern Copper Corporation (NASDAQ:SCCO) is an integrated copper producer.
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