Luis Miguel Palomino Bonilla has filed 45 Form 4 transactions, all in Southern Copper Corporation (SCCO), with a pronounced sell-side bias. Across the entire filing history, the insider has recorded zero open-market purchases and zero acquisitions, while cumulative open-market sales total $1,003,413.48. The recent activity reinforces this pattern: 18 of the last 18 trades were sales, with no buys in the same window.
The selling has been steady and recurring, with transactions spread across multiple months. In the most recent filings, Palomino Bonilla sold $17,900 worth of SCCO on July 24, 2026, following a $724 sale on June 5 and a $20,000 sale on June 2. Earlier in the year, sales included $17,580 on May 21, $17,820 on May 15, and $33,697.80 on March 13. The pattern extends back through 2025, with notable sales such as $55,600 on December 3, $20,720 on November 10, and $41,400 on August 8. The transaction sizes vary widely, from small amounts like $724 to larger five-figure disposals, but the direction is consistent: repeated monetization of SCCO shares.
Interspersed with the sales are Form 4 codes labeled "A" (grants or awards), which carry zero dollar values and represent compensation rather than discretionary purchases. These awards, dated as recently as July 24, 2026, and earlier on May 4, 2026, and January 29, 2026, do not offset the selling trend. The overall picture is one of a holder who consistently reduces his SCCO position through open-market sales while receiving periodic equity compensation, with no indication of accumulation or buy-side conviction.
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