Southern Copper Co. (SCCO) To Go Ex-Dividend on May 7th

Southern Copper Co. (NYSE:SCCO) declared a quarterly dividend on Friday, April 19th, Zacks reports. Investors of record on Wednesday, May 8th will be given a dividend of 0.01 per share by the basic materials company on Thursday, May 23rd. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend is Tuesday, May 7th.

Southern Copper has raised its dividend by an average of 38.7% annually over the last three years. Southern Copper has a payout ratio of 68.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Southern Copper to earn $4.77 per share next year, which means the company should continue to be able to cover its $3.20 annual dividend with an expected future payout ratio of 67.1%.

Southern Copper Stock Performance

NYSE:SCCO opened at $115.41 on Friday. Southern Copper has a 1 year low of $64.66 and a 1 year high of $121.00. The firm’s fifty day simple moving average is $103.14 and its 200 day simple moving average is $87.04. The company has a current ratio of 3.31, a quick ratio of 2.46 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $89.22 billion, a PE ratio of 37.96, a PEG ratio of 3.25 and a beta of 1.27.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings data on Friday, February 2nd. The basic materials company reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.15). Southern Copper had a return on equity of 30.44% and a net margin of 24.20%. The company had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.37 billion. On average, sell-side analysts anticipate that Southern Copper will post 4.01 EPS for the current year.

Insider Activity

In other news, Director Bonilla Luis Miguel Palomino sold 300 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $118.50, for a total value of $35,550.00. Following the sale, the director now directly owns 4,614 shares in the company, valued at $546,759. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 600 shares of company stock worth $63,430 over the last three months. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

SCCO has been the subject of a number of research reports. Scotiabank raised their price objective on Southern Copper from $53.00 to $55.00 and gave the stock a “sector underperform” rating in a research report on Thursday, April 18th. Jefferies Financial Group upgraded Southern Copper from a “hold” rating to a “buy” rating and raised their price objective for the stock from $91.00 to $130.00 in a research report on Friday, March 22nd. CICC Research started coverage on Southern Copper in a research report on Wednesday, April 24th. They issued an “outperform” rating for the company. Morgan Stanley raised their target price on Southern Copper from $123.00 to $135.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 30th. Finally, HSBC downgraded Southern Copper from a “hold” rating to a “reduce” rating and set a $80.00 target price for the company. in a research report on Monday, April 22nd. Five research analysts have rated the stock with a sell rating and three have issued a buy rating to the company. Based on data from MarketBeat, Southern Copper has an average rating of “Hold” and an average price target of $90.50.

About Southern Copper

Southern Copper Corporation engages in mining, exploring, smelting, and refining copper and other minerals in Peru, Mexico, Argentina, Ecuador, and Chile. The company is involved in the mining, milling, and flotation of copper ore to produce copper and molybdenum concentrates; smelting of copper concentrates to produce blister and anode copper; refining of anode copper to produce copper cathodes; production of molybdenum concentrate and sulfuric acid; production of refined silver, gold, and other materials; and mining and processing of zinc, copper, molybdenum, silver, gold, and lead.