Southern Copper Co. Announces -- Dividend of $0.62 (NYSE:SCCO)

Southern Copper Co. (NYSE:SCCO - Get Free Report) announced a -- dividend on Tuesday, October 22nd, Wall Street Journal reports. Shareholders of record on Wednesday, November 6th will be paid a dividend of 0.62 per share by the basic materials company on Thursday, November 21st. This represents a yield of 2.1%. The ex-dividend date of this dividend is Wednesday, November 6th.

Southern Copper has raised its dividend by an average of 38.7% annually over the last three years.

Southern Copper Stock Performance

Shares of SCCO stock traded up $2.17 on Tuesday, reaching $114.57. The stock had a trading volume of 1,202,031 shares, compared to its average volume of 1,137,053. Southern Copper has a 12 month low of $68.93 and a 12 month high of $129.79. The firm has a market capitalization of $89.49 billion, a price-to-earnings ratio of 32.49, a P/E/G ratio of 1.17 and a beta of 1.18. The firm's 50-day moving average is $106.97 and its two-hundred day moving average is $110.12. The company has a quick ratio of 2.27, a current ratio of 2.81 and a debt-to-equity ratio of 0.67.

Southern Copper (NYSE:SCCO - Get Free Report) last announced its earnings results on Friday, July 19th. The basic materials company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.13 by $0.09. Southern Copper had a net margin of 26.15% and a return on equity of 34.98%. The business had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $2.96 billion. On average, research analysts expect that Southern Copper will post 4.47 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Scotiabank cut 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 report on Tuesday, October 15th. Morgan Stanley increased their price target on Southern Copper from $97.00 to $100.00 and gave the stock an "underweight" rating in a research report on Thursday, September 19th. Citigroup lifted their price objective on Southern Copper from $99.44 to $100.00 and gave the company a "sell" rating in a report on Wednesday, October 2nd. Finally, UBS Group began coverage on Southern Copper in a report on Friday, July 12th. They set a "neutral" rating and a $120.00 target price on the stock. Six analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, Southern Copper has an average rating of "Hold" and an average price target of $90.63.

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.