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

Southern Copper Corporation (NYSE:SCCO) shares are scheduled to split before the market opens on Tuesday, August 11th. The 1.012-1 split was recently announced. The newly minted shares will be payable to shareholders after the market closes on Monday, August 10th.

Southern Copper Price Performance

Southern Copper stock opened at $193.42 on Friday. The company’s 50 day simple moving average is $181.69 and its 200-day simple moving average is $184.61. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.89 and a current ratio of 5.06. Southern Copper has a 1 year low of $92.57 and a 1 year high of $223.88. The company has a market capitalization of $159.78 billion, a price-to-earnings ratio of 28.28, a price-to-earnings-growth ratio of 1.69 and a beta of 1.11.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings data on Wednesday, July 22nd. The basic materials company reported $2.01 EPS for the quarter, topping the consensus estimate 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 net margin of 35.87% and a return on equity of 49.04%. Southern Copper’s quarterly revenue was up 40.6% on a year-over-year basis. As a group, equities research analysts expect that Southern Copper will post 7.63 earnings per share for the current year.

Southern Copper Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Tuesday, August 11th will be given a $1.10 dividend. The ex-dividend date of this dividend is Tuesday, August 11th. This represents a $4.40 annualized dividend and a yield of 2.3%. This is an increase from Southern Copper’s previous quarterly dividend of $1.00. Southern Copper’s dividend payout ratio is presently 58.48%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on SCCO shares. UBS Group reissued a “sell” rating and set a $160.00 price target (up from $145.00) on shares of Southern Copper in a research report on Tuesday, June 30th. Wall Street Zen downgraded shares of Southern Copper from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Barclays set a $166.00 target price on shares of Southern Copper and gave the stock an “underweight” rating in a research note on Thursday, July 23rd. Citigroup reissued a “positive” rating on shares of Southern Copper in a research report on Wednesday, July 15th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Southern Copper from $127.00 to $131.50 and gave the stock an “underweight” rating in a research note on Wednesday, June 17th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have issued a Hold rating and seven have given a Sell rating to the company. According to data from MarketBeat.com, Southern Copper has a consensus rating of “Reduce” and an average target price of $148.60.

Insider Transactions at Southern Copper

In other news, Director Bonilla Luis Miguel Palomino sold 200 shares of Southern Copper stock in a transaction dated 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 transaction, 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders sold 804 shares of company stock valued at $151,338. 0.07% of the stock is owned by company insiders.

Institutional Trading of Southern Copper

Several hedge funds have recently added to or reduced their stakes in SCCO. Chase Investment Counsel Corp purchased a new position in Southern Copper in the second quarter worth approximately $705,000. N.E.W. Advisory Services LLC purchased a new stake in shares of Southern Copper in the 2nd quarter valued at approximately $160,000. HBK Sorce Advisory LLC purchased a new stake in shares of Southern Copper in the 2nd quarter valued at approximately $742,000. Global Retirement Partners LLC acquired a new stake in shares of Southern Copper in the 2nd quarter valued at $592,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Southern Copper in the 2nd quarter valued at $56,421,000. 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.