Southern Copper (NYSE:SCCO) issued its earnings results on Saturday. The basic materials company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.10, Zacks reports. Southern Copper had a net margin of 17.17% and a return on equity of 18.67%.
Shares of SCCO opened at $69.58 on Tuesday. The firm has a market capitalization of $53.79 billion, a PE ratio of 41.66, a PEG ratio of 2.03 and a beta of 1.16. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.73 and a quick ratio of 2.89. The company's 50-day moving average is $71.47 and its 200-day moving average is $66.16. Southern Copper has a fifty-two week low of $31.12 and a fifty-two week high of $83.15.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 25th. Shareholders of record on Tuesday, May 11th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 4.02%. This is a boost from Southern Copper's previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, May 10th. Southern Copper's payout ratio is 125.00%.
In other Southern Copper news, Chairman German Larrea Mota Velasco sold 33,258 shares of the stock in a transaction dated Monday, February 8th. The shares were sold at an average price of $71.73, for a total value of $2,385,596.34. Following the transaction, the chairman now directly owns 1,502,966 shares of the company's stock, valued at approximately $107,807,751.18. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders sold 264,821 shares of company stock worth $20,402,507. 0.46% of the stock is owned by company insiders.
A number of brokerages have recently issued reports on SCCO. Zacks Investment Research upgraded shares of Southern Copper from a "hold" rating to a "strong-buy" rating and set a $76.00 price target on the stock in a research note on Friday, March 26th. UBS Group boosted their target price on shares of Southern Copper from $60.00 to $65.00 and gave the stock a "sell" rating in a research report on Monday, April 26th. Citigroup upgraded Southern Copper from a "sell" rating to a "neutral" rating and set a $70.00 target price on the stock in a report on Tuesday, February 16th. Finally, Barclays started coverage on Southern Copper in a research report on Wednesday, January 6th. They issued an "underweight" rating and a $54.00 price objective for the company. Five analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a strong buy rating to the company. Southern Copper presently has a consensus rating of "Hold" and an average price target of $53.19.
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 and lead.
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