We would be surprised if South Copper Corporation Shareholders of (NYSE: SCCO) did not notice that special independent director Luis Miguel Palomino Bonilla recently sold $ 206,000 worth of shares at $ 68.73 per share. Raising the eyebrows resulted in a 40% reduction in their possession.
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Southern Copper insider transactions in the past year
The biggest insider deal in the past twelve months was when German CEO Larrea Mota-Velasco sold $ 32 million worth of shares at $ 82 per share. While insider selling is negative, it will be more negative for us if the stock is sold at a lower price. On the positive side, this drop occurred above the most recent price ($ 66.98). So it is difficult to draw any definite conclusion from this.
Southern Copper insiders did not buy the stock last year. Below you can see a visual representation of insider transactions (companies and individuals) over the past 12 months. By clicking on the chart below, you can see the exact details of each insider transaction!
I like Southern Copper better if I see some big insider buys. While we wait, check it out is free a list of growing companies with significant recent insider buying.
I like to watch how many shares the insiders own in the company to help me understand how much they agree with the insiders. I think it’s a good sign if insiders own a significant amount of the company’s shares. Insiders own a 0.1% stake in Southern Copper, valued at approximately $ 62 million. We have certainly seen higher levels of insider ownership in other countries, but these holdings are sufficient to suggest consistency between insiders and other shareholders.
So what do Southern Copper insider transactions point to?
Insiders have not bought Southern Copper stock in the past three months, but there has been some selling. For the past twelve months, our data does not show any insider buying. On the other hand, Southern Copper makes money and increases profits. While insiders own the stock, they don’t own the heap, and they sell. We would be careful before purchasing! In addition to knowing what insider transactions are taking place, it is helpful to identify the risks Southern Copper faces. When we did our research, we found 4 warning signs for southern copper (I don’t really agree with us!) Which, in our opinion, deserve your full attention.
Sure, you can find a fantastic investment by looking elsewhere. So take a look at this is free list of interesting companies.
For the purposes of this article, insiders are those people who report their transactions to the appropriate regulatory authority. We currently account for open market transactions and private sales, but not derivative transactions.
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