Southern Copper Corp Chairman German Larrea Mota Velasco Buys 45,000 Shares (SCCO)
Southern Copper Corp (NASDAQ:SCCO) Chairman German Larrea Mota Velasco bought 45,000 shares of the stock in a transaction that occurred on Tuesday, August 26th. The stock was purchased at an average cost of $32.49 per share, for a total transaction of $1,462,050.00. Following the completion of the transaction, the chairman now directly owns 664,367 shares of the company’s stock, valued at approximately $21,585,284. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Morgan Stanley downgraded shares of Southern Copper Corp to an “underweight” rating in a research note on Wednesday, August 13th. They now have a $40.00 price target on the stock, down previously from $46.00. Separately, analysts at FBR Capital Markets downgraded shares of Southern Copper Corp from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 6th. They now have a $35.00 price target on the stock, down previously from $37.00. Finally, analysts at Credit Suisse raised their price target on shares of Southern Copper Corp from $38.00 to $41.00 in a research note on Tuesday, August 5th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $37.40.
Southern Copper Corp (NASDAQ:SCCO) traded up 0.43% during mid-day trading on Wednesday, hitting $32.81. 1,954,888 shares of the company’s stock traded hands. Southern Copper Corp has a 52 week low of $24.50 and a 52 week high of $33.90. The stock has a 50-day moving average of $32.54 and a 200-day moving average of $30.4. The company has a market cap of $27.307 billion and a P/E ratio of 19.38.
Southern Copper Corp (NASDAQ:SCCO) last released its earnings data on Monday, August 18th. The company reported $0.40 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.44 by $0.04. Analysts expect that Southern Copper Corp will post $1.75 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, August 28th. Stockholders of record on Friday, August 15th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend is Wednesday, August 13th.
Southern Copper Corporation (NASDAQ:SCCO) is an integrated copper producer.
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