Southern copper director sells $87,000 in common stock

Director Luis Miguel Palomino Bonilla of Southern Copper Corp (NYSE:SCCO) divested 400 shares of the company's common stock on August 31, 2026, amounting to $87,000. This transaction involved the sale of each share at $217.5. After the sale, Mr. Palomino Bonilla's remaining holdings in Southern Copper common stock were reduced to 1,303 shares.

Presently, the stock price is trading at $202.28, which is lower than the sale price, despite the shares having generated a substantial 131% return in the past year. Analytical reports from InvestingPro indicate that Southern Copper appears to be overvalued at the current market valuation. The company maintains a modest dividend yield of 2.11%, having paid dividends consistently for 31 consecutive years.

Additional insights from InvestingPro include 12 more exclusive tips and comprehensive financial metrics for investors in SCCO. Earlier this week, Southern Copper Corp. disclosed its second-quarter 2026 earnings, which exceeded analysts' projections. The company reported adjusted earnings per share of $2.01, surpassing the expected $1.95.

The quarter's revenue totaled $4.29 billion, slightly surpassing the projected $4.27 billion. This impressive performance can be attributed to higher commodity prices and record profitability for the company. In response to these results, Southern Copper reiterated its long-term growth strategy, emphasizing major projects in Peru and Mexico.

These recent developments suggest that the company anticipates an uptick in sales during the second half of the year.