SOUTHERN COPPER CORP/
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Southern Copper Corporation director Luis Miguel Palomino Bonilla was granted 400 shares of common stock as compensation for his board service. The shares were awarded under the company's Directors' Stock Award Plan and are considered an exempt transaction under Rule 16b-3(d). Following this award, Mr. Palomino Bonilla directly holds 2,107 shares of Southern Copper common stock.
Southern Copper (NYSE:SCCO) announced its quarterly earnings, reporting $1.92 EPS, which beat analyst estimates by $0.04. The company generated $4.25 billion in revenue and declared a quarterly dividend of $1.00 per share, alongside a 1.01-for-1 stock split. Despite these positive results, shares traded down, and analysts currently have an average "Reduce" rating for the stock.
Southern Copper Corporation has appointed Leonardo Contreras Lerdo de Tejada as its new Chief Executive Officer, following the passing of former President and CEO Oscar Gonzalez Rocha. Contreras Lerdo de Tejada will also continue to serve on the company’s Board of Directors. This announcement coincides with Goldman Sachs upgrading Southern Copper's stock rating to Neutral with a raised price target due to a scarcity premium.
