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Luis Miguel Palomino Bonilla, a director at Southern Copper Corp. (NYSE:SCCO), reported a recent sale of company stock. According to a Form 4 filing with the Securities and Exchange Commission, Palomino Bonilla sold 100 shares of Southern Copper at a price of $90.25 per share on March 12, 2025. The total value of the transaction was $9,025. Following this transaction, Palomino Bonilla holds 2,713 shares of Southern Copper. The stock currently trades at $96.13, showing a 6.5% increase since the reported sale, with a market capitalization of $76.47 billion. InvestingPro analysis indicates the stock is currently trading near its Fair Value.
Southern Copper, headquartered in Phoenix, Arizona, is a significant player in the metal mining industry, operating primarily in copper production. The company boasts impressive financial metrics, including a 58.6% gross profit margin and 15.5% revenue growth in the last twelve months. InvestingPro data reveals the company has maintained dividend payments for 30 consecutive years, with additional insights available to subscribers.
In other recent news, Southern Copper Corporation has been in the spotlight due to several key developments. UBS analyst Myles Allsop upgraded the company’s stock rating from Neutral to Buy, setting a price target of $120. This upgrade is based on a projected deficit in the copper market and anticipated volume growth from the Tia Maria project, which could support a 10% growth over the next few years. Allsop also highlighted that Southern Copper is expected to continue trading at a premium compared to its peers due to its strong operational performance and asset portfolio.
Additionally, Southern Copper’s subsidiary, Minera Mexico, S.A. de C.V., has successfully priced $1 billion in senior notes with a 5.625% interest rate, maturing in 2032. The proceeds from this offering are intended for capital expenditures and general corporate purposes, demonstrating the company’s strategy to invest in its infrastructure and maintain financial flexibility. This move was disclosed in a Form 8-K filing with the SEC and is part of an unregistered offering under Rule 144A and Regulation S. The issuance of senior notes is a strategic financial decision, providing the company with additional resources to pursue growth and investment plans. These recent developments reflect Southern Copper’s efforts to strengthen its financial position and capitalize on favorable market conditions.
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