Southern Copper Corporation (NYSE:SCCO) Declares Quarterly Dividend of $0.90

Southern Copper Corporation (NYSE:SCCO) announced a quarterly dividend on Friday, October 24th. Stockholders of record on Wednesday, November 12th will be paid a dividend of 0.90 per share by the basic materials company on Friday, November 28th. This represents a c) annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Wednesday, November 12th.

Southern Copper has a dividend payout ratio of 63.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Southern Copper to earn $4.57 per share next year, which means the company should continue to be able to cover its $2.80 annual dividend with an expected future payout ratio of 61.3%.

Southern Copper Stock Up 0.8%

Shares of NYSE:SCCO opened at $129.41 on Friday. Southern Copper has a 52-week low of $74.84 and a 52-week high of $136.49. The stock has a market cap of $104.05 billion, a P/E ratio of 28.32, a price-to-earnings-growth ratio of 1.20 and a beta of 1.02. The business’s 50 day moving average is $113.27 and its 200 day moving average is $100.84. The company has a quick ratio of 4.51, a current ratio of 5.27 and a debt-to-equity ratio of 0.67.

Analysts Set New Price Targets

SCCO has been the subject of a number of research analyst reports. UBS Group restated a “buy” rating on shares of Southern Copper in a research note on Friday, September 19th. Citigroup reiterated a “sell” rating and set a $108.00 price objective (up previously from $89.10) on shares of Southern Copper in a research note on Wednesday, October 8th. Morgan Stanley set a $132.00 price objective on Southern Copper and gave the company an “equal weight” rating in a research note on Wednesday, October 8th. The Goldman Sachs Group set a $89.00 price objective on Southern Copper and gave the company a “sell” rating in a research note on Wednesday, September 17th. Finally, JPMorgan Chase & Co. lifted their price objective on Southern Copper from $79.00 to $92.00 and gave the company a “neutral” rating in a research note on Wednesday, September 3rd. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $110.78.

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.