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

Key Points

• Southern Copper Corporation has declared a quarterly dividend of $0.90 per share, with payments scheduled for November 28th to stockholders on record as of November 12th.
• The company has a payout ratio of 63.1%, which indicates that its dividend is well-supported by its earnings.
• Equities analysts have mixed ratings on Southern Copper, with two holding a Buy rating, seven a Hold rating, and three a Sell rating, reflecting a consensus rating of "Reduce" with an average price target of $110.78.

Southern Copper Corporation (NYSE:SCCO - Get Free Report) declared 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 of this dividend is Wednesday, November 12th.

Southern Copper has a payout ratio of 63.1% meaning its dividend is sufficiently covered by earnings. Equities 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 1.1%

Shares of NYSE:SCCO opened at $128.29 on Friday. Southern Copper has a 52-week low of $74.84 and a 52-week high of $136.49. The company has a debt-to-equity ratio of 0.67, a quick ratio of 4.51 and a current ratio of 5.27. The firm has a market capitalization of $103.15 billion, a P/E ratio of 28.07, a P/E/G ratio of 1.22 and a beta of 1.02. The stock has a 50 day moving average price of $112.60 and a 200-day moving average price of $100.47.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Citigroup reaffirmed a "sell" rating and set a $108.00 price objective (up previously from $89.10) on shares of Southern Copper in a research report on Wednesday, October 8th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Southern Copper in a research report on Wednesday, October 8th. JPMorgan Chase & Co. raised their price objective on Southern Copper from $79.00 to $92.00 and gave the company a "neutral" rating in a research report on Wednesday, September 3rd. UBS Group reaffirmed a "buy" rating on shares of Southern Copper in a research report on Friday, September 19th. Finally, Wells Fargo & Company raised Southern Copper to a "hold" rating in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Southern Copper currently has a consensus rating of "Reduce" and an average target price of $110.78.

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.

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