We would be surprised if Southern Copper Company (NYSE: SCCO) Shareholders haven’t noticed that Special Independent Director Luis Miguel Palomino Bonilla recently sold US $ 206,000 worth of shares at US $ 68.73 per share. The eyebrow raising movement resulted in a 40% reduction in their holdings.
See our latest review for Southern Copper
Southern Copper Insider Trading in the Past Year
In the last twelve months, the biggest sale by an insider was when the chairman of the board, Germany’s Larrea Mota-Velasco, sold $ 32 million in shares at a price of 82.00 dollars per share. While insider selling is negative, for us it is even more so if stocks are sold for a lower price. The positive side is that this drop took place above the last price (US $ 66.98). It is therefore difficult to draw a solid conclusion.
During the past year, insiders of Southern Copper have not purchased any shares of the company. Below you can see a visual representation of insider trading (by businesses and individuals) over the past 12 months. By clicking on the graph below, you can see the exact detail of each insider trade!
I will like Southern Copper better if I see big insider buys. In the meantime, watch this free list of growing companies with significant and recent insider buying.
I like to look at how many shares insiders own in a company, to help inform my perspective on their alignment with insiders. I think it’s a good sign if the insiders own a significant number of shares in the company. Insiders own 0.1% of Southern Copper’s shares, valued at approximately $ 62 million. We’ve certainly seen higher levels of insider ownership elsewhere, but these holdings are enough to suggest an alignment between insiders and other shareholders.
So what do Southern Copper’s insider trading indicate?
Insiders haven’t bought Southern Copper shares in the past three months, but there have been sales. Looking at the past twelve months, our data shows no insider buying. On the positive side, Southern Copper is making money and increasing its profits. While the insiders own stocks, they don’t own a bunch, and they’ve sold. We practice some caution before buying! In addition to knowing the current insider transactions, it is useful to identify the risks facing Southern Copper. When we did our research we found 4 warning signs for Southern Copper (1 doesn’t suit us very well!) Which we think deserve your full attention.
Of course, you might find a fantastic investment looking elsewhere. So take a look at this free list of interesting companies.
For the purposes of this article, insiders are the persons who report their transactions to the relevant regulatory body. We currently account for open market transactions and private assignments, but not derivative transactions.
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