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

Southern Copper Co. (NYSE:SCCO) announced a quarterly dividend on Friday, April 19th, Zacks reports. Shareholders 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 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend is Tuesday, May 7th.

Southern Copper has increased its dividend payment by an average of 38.7% per year over the last three years. Southern Copper has a dividend 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 Price Performance

Shares of NYSE SCCO opened at $115.41 on Friday. The company has a quick ratio of 2.46, a current ratio of 3.31 and a debt-to-equity ratio of 0.82. The company 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. The stock’s 50 day moving average price is $103.14 and its 200-day moving average price is $87.04. Southern Copper has a twelve month low of $64.66 and a twelve month high of $121.00.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings data on Friday, February 2nd. The basic materials company reported $0.58 earnings per share 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 business had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.37 billion. On average, equities analysts anticipate that Southern Copper will post 4.01 EPS for the current year.

Insider Transactions at Southern Copper

In other news, Director Bonilla Luis Miguel Palomino sold 300 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $118.50, for a total transaction of $35,550.00. Following the completion of the transaction, the director now owns 4,614 shares in the company, valued at approximately $546,759. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last 90 days, insiders sold 600 shares of company stock worth $63,430. 0.08% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. reduced their price target on shares of Southern Copper from $63.50 to $61.00 and set an “underweight” rating for the company in a research report on Thursday, March 21st. Morgan Stanley raised their price target 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. CICC Research began coverage on Southern Copper in a research note on Wednesday, April 24th. They issued an “outperform” rating on the stock. HSBC lowered Southern Copper from a “hold” rating to a “reduce” rating and set a $80.00 price objective for the company. in a report on Monday, April 22nd. Finally, Scotiabank upped their price target on Southern Copper from $53.00 to $55.00 and gave the company a “sector underperform” rating in a research report on Thursday, April 18th. Five equities research analysts have rated the stock with a sell rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price 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.