Southern Copper Co. (NYSE:SCCO) Declares $0.01 Quarterly Dividend

Southern Copper Co. (NYSE:SCCO) announced a quarterly dividend on Friday, April 19th, Zacks reports. Investors of record on Wednesday, May 8th will be paid 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 dividend 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% indicating that its dividend is sufficiently covered by earnings. Equities 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 Up 2.1 %

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

Southern Copper (NYSE:SCCO) last issued its quarterly earnings results 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 net margin of 24.20% and a return on equity of 30.44%. The business had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.37 billion. On average, equities analysts predict that Southern Copper will post 4.01 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Bonilla Luis Miguel Palomino sold 300 shares of Southern Copper stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $118.50, for a total transaction of $35,550.00. Following the completion of the sale, the director now owns 4,614 shares of the company’s stock, valued at approximately $546,759. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders sold 600 shares of company stock valued at $63,430. Company insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SCCO. HSBC lowered shares of Southern Copper from a “hold” rating to a “reduce” rating and set a $80.00 price target on the stock. in a research note on Monday, April 22nd. Morgan Stanley boosted their price objective on shares of Southern Copper from $123.00 to $135.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 30th. Scotiabank boosted their price objective on shares of Southern Copper from $53.00 to $55.00 and gave the stock a “sector underperform” rating in a research note on Thursday, April 18th. StockNews.com upgraded shares of Southern Copper from a “hold” rating to a “buy” rating in a research note on Monday, April 29th. Finally, Jefferies Financial Group upgraded shares of Southern Copper from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $91.00 to $130.00 in a research note on Friday, March 22nd. Five research analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $90.50.

Southern Copper Company Profile

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.