Southern Copper Co. (SCCO) To Go Ex-Dividend on February 10th

Southern Copper Co. (NYSE:SCCO) announced a quarterly dividend on Thursday, January 23rd,NASDAQ Dividends reports. Stockholders of record on Tuesday, February 11th will be given a dividend of 0.70 per share by the basic materials company on Thursday, February 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date of this dividend is Monday, February 10th. This is a boost from Southern Copper’s previous quarterly dividend of $0.60.

Southern Copper has decreased its dividend payment by an average of 37.0% per year over the last three years.

Southern Copper Stock Performance

SCCO stock traded down $0.66 during midday trading on Friday, reaching $96.52. 952,946 shares of the company’s stock traded hands, compared to its average volume of 742,142. The company has a 50-day moving average price of $97.37 and a two-hundred day moving average price of $103.61. The firm has a market capitalization of $75.82 billion, a PE ratio of 24.85, a price-to-earnings-growth ratio of 1.92 and a beta of 1.14. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.77. Southern Copper has a 52 week low of $77.42 and a 52 week high of $129.79.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings data on Tuesday, October 22nd. The basic materials company reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.03. Southern Copper had a net margin of 27.67% and a return on equity of 37.11%. The firm had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.94 billion. As a group, equities analysts anticipate that Southern Copper will post 4.4 EPS for the current year.

Wall Street Analyst Weigh In

SCCO has been the subject of a number of research analyst reports. Scotiabank cut their price objective on Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating on the stock in a research report on Tuesday, October 15th. Citigroup increased their price objective on Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. upgraded shares of Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 target price on the stock in a report on Monday, December 2nd. Finally, Morgan Stanley upgraded shares of Southern Copper from an “underweight” rating to an “equal weight” rating and decreased their price target for the stock from $106.30 to $102.00 in a research note on Thursday, December 12th. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Southern Copper presently has a consensus rating of “Hold” and an average price target of $94.81.

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.