Southern Copper Corporation (SCCO) To Go Ex-Dividend on August 11th

Southern Copper Corporation (NYSE:SCCO) announced a quarterly dividend on Thursday, July 16th. Shareholders of record on Tuesday, August 11th will be given a dividend of 1.10 per share by the basic materials company on Thursday, August 27th. This represents a c) annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Tuesday, August 11th. This is a 10.0% increase from Southern Copper’s previous quarterly dividend of $1.00.

Southern Copper has raised its dividend payment by an average of 0.2%per year over the last three years. Southern Copper has a payout ratio of 99.1% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Analysts expect Southern Copper to earn $7.01 per share next year, which means the company should continue to be able to cover its $4.40 annual dividend with an expected future payout ratio of 62.8%.

Southern Copper Stock Performance

Shares of SCCO opened at $199.38 on Friday. Southern Copper has a 12-month low of $92.57 and a 12-month high of $223.88. The company has a current ratio of 5.06, a quick ratio of 3.89 and a debt-to-equity ratio of 0.63. The company has a market cap of $164.70 billion, a PE ratio of 29.15, a price-to-earnings-growth ratio of 1.71 and a beta of 1.11. The stock has a 50-day moving average price of $181.84 and a 200-day moving average price of $184.71.

Southern Copper’s stock is set to split before the market opens on Tuesday, August 11th. The 1.012-1 split was recently announced. The newly created shares will be payable to shareholders after the closing bell on Monday, August 10th.

Southern Copper (NYSE:SCCO) last announced its earnings results on Wednesday, July 22nd. The basic materials company reported $2.01 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $0.06. Southern Copper had a net margin of 35.87% and a return on equity of 49.04%. The business had revenue of $4.29 billion for the quarter, compared to the consensus estimate of $4.37 billion. Southern Copper’s quarterly revenue was up 40.6% compared to the same quarter last year. As a group, equities analysts forecast that Southern Copper will post 7.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 200 shares of the stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $199.15, for a total value of $39,830.00. Following the completion of the sale, the director owned 1,703 shares in the company, valued at approximately $339,152.45. This trade represents a 10.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders sold 804 shares of company stock worth $151,338. Corporate insiders own 0.07% of the company’s stock.

Hedge Funds Weigh In On Southern Copper

A number of hedge funds and other institutional investors have recently made changes to their positions in SCCO. SHP Wealth Management purchased a new stake in Southern Copper in the fourth quarter worth $25,000. Bell Investment Advisors Inc bought a new position in Southern Copper in the 2nd quarter worth $26,000. Lloyd Advisory Services LLC. bought a new position in Southern Copper in the 4th quarter worth $29,000. Virtus Advisers LLC purchased a new stake in shares of Southern Copper in the 4th quarter worth about $29,000. Finally, Godfrey Financial Associates Inc. bought a new stake in shares of Southern Copper during the 4th quarter valued at about $30,000. Institutional investors own 7.94% of the company’s stock.

About Southern Copper

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.