Southern Copper Stock Set to Split on Tuesday, August 11th (NYSE:SCCO)

Shares of Southern Copper Corporation (NYSE:SCCO) are going to split on the morning of Tuesday, August 11th. The 1.012-1 split was recently announced. The newly issued shares will be payable to shareholders after the closing bell on Monday, August 10th.

Southern Copper Stock Down 2.1%

Shares of SCCO opened at $175.20 on Thursday. The stock’s 50-day moving average price is $181.13 and its two-hundred day moving average price is $184.02. Southern Copper has a 12 month low of $88.73 and a 12 month high of $223.88. The company has a market capitalization of $144.72 billion, a PE ratio of 25.61, a PEG ratio of 1.54 and a beta of 1.11. The company has a current ratio of 4.38, a quick ratio of 3.89 and a debt-to-equity ratio of 0.57.

Southern Copper (NYSE:SCCO) last released its quarterly earnings results on Wednesday, July 22nd. The basic materials company reported $2.01 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.06. The firm had revenue of $4.29 billion for the quarter, compared to analyst estimates of $4.37 billion. Southern Copper had a return on equity of 50.74% and a net margin of 35.87%.The company’s revenue for the quarter was up 40.6% compared to the same quarter last year. On average, analysts anticipate that Southern Copper will post 7.63 EPS for the current year.

Southern Copper Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Tuesday, August 11th will be paid a $1.10 dividend. This is an increase from Southern Copper’s previous quarterly dividend of $1.00. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Tuesday, August 11th. Southern Copper’s payout ratio is presently 58.48%.

Analysts Set New Price Targets

Several research analysts have issued reports on SCCO shares. Citigroup restated a “positive” rating on shares of Southern Copper in a report on Wednesday, July 15th. Barclays set a $166.00 price objective on shares of Southern Copper and gave the stock an “underweight” rating in a research report on Thursday, July 23rd. The Goldman Sachs Group raised shares of Southern Copper from a “sell” rating to a “neutral” rating and set a $178.00 target price for the company in a research note on Friday, April 10th. JPMorgan Chase & Co. boosted their target price on shares of Southern Copper from $127.00 to $131.50 and gave the company an “underweight” rating in a report on Wednesday, June 17th. Finally, CICC Research cut shares of Southern Copper to a “market perform” rating in a research report on Sunday. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have given a Hold rating and seven have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $148.60.

Insiders Place Their Bets

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 200 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $177.82, for a total value of $35,564.00. Following the transaction, the director directly owned 1,807 shares of the company’s stock, valued at approximately $321,320.74. The trade was a 9.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 504 shares of company stock valued at $92,008 in the last ninety days. Insiders own 0.07% of the company’s stock.

Institutional Trading of Southern Copper

Large investors have recently modified their holdings of the stock. SHP Wealth Management bought a new position in Southern Copper during the fourth quarter worth $25,000. Lloyd Advisory Services LLC. bought a new position in shares of Southern Copper during the 4th quarter worth about $29,000. Virtus Advisers LLC bought a new position in shares of Southern Copper during the 4th quarter worth about $29,000. Godfrey Financial Associates Inc. acquired a new stake in shares of Southern Copper in the 4th quarter valued at about $30,000. Finally, IFP Advisors Inc grew its stake in shares of Southern Copper by 233.3% in the 4th quarter. IFP Advisors Inc now owns 230 shares of the basic materials company’s stock valued at $33,000 after buying an additional 161 shares during the period. Institutional investors and hedge funds own 7.94% of the company’s stock.

Southern Copper Company Profile

Southern Copper Corporation (NYSE: SCCO) is a large, integrated copper producer whose operations span the full value chain from exploration and mining to smelting, refining and the sale of copper and other metal products. The company produces a range of copper products including copper concentrate and refined cathodes, and recovers valuable byproducts such as molybdenum, silver and zinc. Southern Copper concentrates on high-volume, long-life assets designed to support steady production and processing capabilities.

Southern Copper’s operations are concentrated in Peru and Mexico, where it owns and operates multiple large-scale mining and processing facilities.