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 paid 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 is Monday, February 10th. This is a positive change 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 Price Performance

Shares of Southern Copper stock traded down $0.66 on Friday, reaching $96.52. 952,946 shares of the stock were exchanged, compared to its average volume of 742,142. The firm’s 50 day moving average is $97.37 and its 200-day moving average is $103.61. Southern Copper has a one year low of $77.42 and a one year high of $129.79. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.77. The firm has a market cap of $75.82 billion, a PE ratio of 24.85, a P/E/G ratio of 1.92 and a beta of 1.14.

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

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Scotiabank dropped their price objective on shares of Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating for the company in a research note on Tuesday, October 15th. JPMorgan Chase & Co. raised shares of Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price objective for the company in a research note on Monday, December 2nd. Morgan Stanley raised shares of Southern Copper from an “underweight” rating to an “equal weight” rating and dropped their price objective for the company from $106.30 to $102.00 in a research note on Thursday, December 12th. Finally, Citigroup increased their price objective on shares of Southern Copper from $99.44 to $100.00 and gave the company a “sell” rating in a research note on Wednesday, October 2nd. Four investment 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’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $94.81.

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.