Southern Copper Co. (NYSE:SCCO) to Issue Quarterly Dividend of $1.25

Southern Copper Co. (NYSE:SCCOGet Rating) declared a quarterly dividend on Tuesday, May 3rd, Wall Street Journal reports. Investors of record on Tuesday, May 17th will be given a dividend of 1.25 per share by the basic materials company on Tuesday, May 31st. This represents a $5.00 dividend on an annualized basis and a dividend yield of 7.97%. The ex-dividend date of this dividend is Monday, May 16th. This is an increase from Southern Copper’s previous quarterly dividend of $1.00.

Southern Copper has raised its dividend payment by an average of 31.7% annually over the last three years and has increased its dividend every year for the last 1 years. Southern Copper has a dividend payout ratio of 99.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Southern Copper to earn $4.12 per share next year, which means the company should continue to be able to cover its $4.00 annual dividend with an expected future payout ratio of 97.1%.

SCCO opened at $62.76 on Wednesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.73 and a quick ratio of 2.30. The company’s 50-day moving average is $72.09 and its 200 day moving average is $65.90. Southern Copper has a fifty-two week low of $54.92 and a fifty-two week high of $83.29. The firm has a market capitalization of $48.52 billion, a P/E ratio of 14.26, a PEG ratio of 1.81 and a beta of 1.12.

Southern Copper (NYSE:SCCOGet Rating) last announced its quarterly earnings data on Wednesday, February 2nd. The basic materials company reported $1.08 EPS for the quarter, missing the consensus estimate of $1.12 by ($0.04). The company had revenue of $2.82 billion during the quarter, compared to the consensus estimate of $2.61 billion. Southern Copper had a return on equity of 42.58% and a net margin of 31.07%. On average, equities research analysts expect that Southern Copper will post 4.16 earnings per share for the current year.

Several analysts have commented on SCCO shares. StockNews.com raised shares of Southern Copper from a “buy” rating to a “strong-buy” rating in a research report on Monday. Barclays lifted their price objective on shares of Southern Copper from $58.00 to $62.00 in a research report on Thursday, April 21st. Finally, Morgan Stanley lowered shares of Southern Copper from an “equal weight” rating to an “underweight” rating and lifted their price objective for the stock from $55.00 to $63.00 in a research report on Wednesday, March 23rd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $61.30.

In other news, Chairman German Larrea Mota Velasco sold 200,000 shares of Southern Copper stock in a transaction dated Friday, March 11th. The shares were sold at an average price of $74.94, for a total value of $14,988,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.08% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of SCCO. BlackRock Inc. grew its stake in Southern Copper by 1.9% during the fourth quarter. BlackRock Inc. now owns 6,341,943 shares of the basic materials company’s stock valued at $391,362,000 after acquiring an additional 119,145 shares in the last quarter. Morgan Stanley grew its stake in Southern Copper by 7.3% during the second quarter. Morgan Stanley now owns 633,820 shares of the basic materials company’s stock valued at $40,767,000 after acquiring an additional 42,986 shares in the last quarter. Geode Capital Management LLC grew its stake in Southern Copper by 9.7% during the fourth quarter. Geode Capital Management LLC now owns 393,426 shares of the basic materials company’s stock valued at $24,109,000 after acquiring an additional 34,731 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Southern Copper by 0.5% during the third quarter. Bank of New York Mellon Corp now owns 314,071 shares of the basic materials company’s stock valued at $17,632,000 after acquiring an additional 1,421 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Southern Copper by 10.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 140,705 shares of the basic materials company’s stock valued at $8,683,000 after acquiring an additional 12,831 shares in the last quarter. Hedge funds and other institutional investors own 6.83% of the company’s stock.

Southern Copper Company Profile (Get Rating)

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 and lead.

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Dividend History for Southern Copper (NYSE:SCCO)

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