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Luis Miguel Palomino Bonilla, a director at Southern Copper Corp (NYSE:SCCO), a $78 billion market cap mining company with excellent financial health according to InvestingPro metrics, recently sold 400 shares of the company’s common stock. The transaction, which took place on June 5, 2025, was executed at a price of $95 per share, totaling $38,000. Following this sale, Palomino Bonilla holds 2,741 shares in the company. The transaction was disclosed in a filing with the Securities and Exchange Commission. The company stands out with a perfect Piotroski Score of 9 and has maintained dividend payments for 30 consecutive years. InvestingPro analysis suggests the stock is currently trading slightly above its Fair Value, with 10 more exclusive insights available to subscribers.
In other recent news, Southern Copper Corporation reported impressive financial results for the first quarter of 2025, surpassing analysts’ expectations. The company achieved an earnings per share of $1.19, exceeding the forecasted $1.10, and reported revenue of $3.12 billion, which was above the projected $2.94 billion. This performance was bolstered by a 29% year-over-year increase in net income, reaching $946 million, and a 23% rise in adjusted EBITDA to $1.746 billion. Additionally, Southern Copper held its 2025 Annual Meeting of Stockholders, where shareholders elected nine directors and approved amendments to the Directors’ Stock Award Plan. The appointment of Galaz, Yamazaki, Ruiz Urquiza S.C. as the company’s independent accountants was ratified, and a non-binding advisory vote on executive compensation was also approved. Despite these positive developments, the company’s stock experienced a slight decline in after-hours trading. Southern Copper remains optimistic about future growth, with plans for significant capital investments, particularly in Mexico. The company projects copper production to exceed 1 million tons by 2028, supported by expected increases in copper demand driven by advancements in energy technologies and AI infrastructure.
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