Southern Copper Co. (NYSE:SCCO) Announces Quarterly Dividend of $0.70

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 annualized dividend and a dividend yield of 2.90%. The ex-dividend date is Monday, February 10th. This is an increase from Southern Copper’s previous quarterly dividend of $0.60.

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

Southern Copper Trading Down 0.7 %

Shares of Southern Copper stock traded down $0.66 during mid-day trading on Friday, hitting $96.52. The stock had a trading volume of 952,946 shares, compared to its average volume of 742,142. The firm has a 50-day moving average of $97.37 and a two-hundred day moving average of $103.61. Southern Copper has a 12-month low of $77.42 and a 12-month high of $129.79. The company has a quick ratio of 2.31, a current ratio of 2.77 and a debt-to-equity ratio of 0.64. The firm has a market cap of $75.82 billion, a P/E ratio of 24.85, a price-to-earnings-growth ratio of 1.92 and a beta of 1.14.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings results 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 business had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.94 billion. Sell-side analysts forecast that Southern Copper will post 4.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

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