Luis Miguel Palomino Bonilla, a director at Southern Copper Corp (NYSE:SCCO), recently sold shares of the company's common stock, according to a filing with the U.S. Securities and Exchange Commission.
On June 5, 2026, Mr. Palomino Bonilla disposed of 4 shares of Southern Copper common stock. The shares were sold at a price of $181.0 per share, totaling $724 from the transaction. The sale comes as Southern Copper stock has delivered a strong 91.5% return over the past year, though InvestingPro analysis indicates the stock is currently trading above its Fair Value, placing it among overvalued stocks in the market.
Following this sale, Mr. Palomino Bonilla directly holds 1,703 shares of Southern Copper Corp. The transaction was reported on June 5, 2026. For deeper insights into Southern Copper's valuation and performance metrics, investors can access comprehensive analysis through the company's InvestingPro Research Report.
In other recent news, Southern Copper Corporation has undergone significant leadership changes. The company's Board of Directors appointed Leonardo Contreras Lerdo de Tejada as the new Chief Executive Officer following the unexpected passing of Oscar Gonzalez Rocha. Mr. Contreras Lerdo de Tejada will continue to serve on the Board of Directors, and any changes to his compensation will be disclosed in future filings.
In addition to the leadership update, Southern Copper received an analyst rating upgrade. Goldman Sachs upgraded the stock from Sell to Neutral, citing a scarcity premium as the reason for the change. The price target was also raised to $178.00. Meanwhile, copper prices have seen an increase, influenced by a weaker U.S. dollar and geopolitical comments from Iran. This rise in copper prices has positively affected shares of copper mining companies.