Southern Copper (NYSE:SCCO - Get Free Report) announced its quarterly earnings results on Wednesday. The basic materials company reported $1.01 EPS for the quarter, missing analysts' consensus estimates of $1.02 by ($0.01), Zacks reports. Southern Copper had a net margin of 27.67% and a return on equity of 37.11%.
Southern Copper Price Performance
NYSE:SCCO traded down $0.43 during trading hours on Friday, hitting $97.41. 1,946,863 shares of the stock traded hands, compared to its average volume of 1,148,754. The company has a quick ratio of 2.31, a current ratio of 2.77 and a debt-to-equity ratio of 0.64. Southern Copper has a 1 year low of $78.82 and a 1 year high of $129.79. The company has a market cap of $76.52 billion, a price-to-earnings ratio of 25.08, a price-to-earnings-growth ratio of 1.85 and a beta of 1.13. The stock has a 50 day moving average price of $95.24 and a 200 day moving average price of $102.06.
Southern Copper Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Tuesday, February 11th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $2.80 annualized dividend and a yield of 2.87%. This is an increase from Southern Copper's previous quarterly dividend of $0.60. Southern Copper's payout ratio is currently 64.81%.
Wall Street Analyst Weigh In
Several analysts have issued reports on SCCO shares. Morgan Stanley upgraded shares of Southern Copper from an "underweight" rating to an "equal weight" rating and lowered their target price for the stock from $106.30 to $102.00 in a research note on Thursday, December 12th. JPMorgan Chase & Co. raised shares of Southern Copper from an "underweight" rating to a "neutral" rating and set a $92.50 price target on the stock in a report on Monday, December 2nd. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, Southern Copper presently has an average rating of "Hold" and a consensus price target of $94.81.
Read Our Latest Analysis on Southern Copper
About Southern Copper
(
Get Free Report)
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.
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