Southern Copper Stock Scheduled to Split on Tuesday, August 11th (NYSE:SCCO)

Key Points

• Southern Copper shares are scheduled to split on Tuesday, August 11 on a 1.012-for-1 basis, with the newly issued shares payable after the close on Monday, August 10.
• The company recently raised its quarterly dividend to $1.10 per share from $1.00, which works out to an annualized dividend of $4.40 and a yield of about 2.4%.
• Southern Copper beat earnings expectations in its latest quarter, reporting $2.01 EPS versus $1.95 expected, though revenue of $4.29 billion came in slightly below estimates.

Shares of Southern Copper Corporation (NYSE:SCCO - Free Report) are set to split on Tuesday, August 11th. The 1.012-1 split was recently announced. The newly minted shares will be payable to shareholders after the closing bell on Monday, August 10th.

Southern Copper Stock Down 1.4%

Shares of NYSE:SCCO opened at $179.69 on Friday. The firm has a market cap of $148.44 billion, a P/E ratio of 26.27, a P/E/G ratio of 1.53 and a beta of 1.11. The company has a quick ratio of 3.89, a current ratio of 4.38 and a debt-to-equity ratio of 0.57. Southern Copper has a 12-month low of $88.73 and a 12-month high of $223.88. The business has a fifty day simple moving average of $180.76 and a 200 day simple moving average of $183.39.

Southern Copper (NYSE:SCCO - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The basic materials company reported $2.01 EPS for the quarter, topping the consensus estimate of $1.95 by $0.06. The firm had revenue of $4.29 billion for the quarter, compared to the consensus estimate of $4.37 billion. Southern Copper had a return on equity of 50.74% and a net margin of 35.87%.Southern Copper's revenue was up 40.6% compared to the same quarter last year. Analysts predict that Southern Copper will post 7.63 earnings per share for the current year.

Southern Copper Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Tuesday, August 11th will be paid a $1.10 dividend. The ex-dividend date of this dividend is Tuesday, August 11th. This is a positive change from Southern Copper's previous quarterly dividend of $1.00. This represents a $4.40 annualized dividend and a dividend yield of 2.4%. Southern Copper's payout ratio is currently 58.48%.

Analyst Ratings Changes

SCCO has been the topic of a number of recent analyst reports. Weiss Ratings lowered Southern Copper from a "buy (b)" rating to a "buy (b-)" rating in a research note on Wednesday, July 8th. Barclays set a $166.00 target price on shares of Southern Copper and gave the company an "underweight" rating in a research report on Thursday. Morgan Stanley raised their price target on shares of Southern Copper from $146.00 to $158.00 and gave the stock an "underweight" rating in a report on Wednesday, July 8th. Citigroup restated a "positive" rating on shares of Southern Copper in a research report on Wednesday, July 15th. Finally, UBS Group reaffirmed a "sell" rating and issued a $160.00 price objective (up from $145.00) on shares of Southern Copper in a research note on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have assigned a Hold rating and seven have issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Reduce" and an average target price of $148.60.

Insider Activity

In other news, Director Bonilla Luis Miguel Palomino sold 200 shares of the business's stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $177.82, for a total value of $35,564.00. Following the transaction, the director directly owned 1,807 shares of the company's stock, valued at $321,320.74. The trade was a 9.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders sold 404 shares of company stock valued at $74,108. 0.07% of the stock is owned by insiders.

Institutional Investors Weigh In On Southern Copper

A number of hedge funds have recently added to or reduced their stakes in the business. Savvy Advisors Inc. bought a new position in shares of Southern Copper during the 4th quarter worth about $1,434,000. Oak Harvest Investment Services bought a new stake in Southern Copper in the 4th quarter valued at about $7,650,000. US Bancorp DE raised its stake in Southern Copper by 16.2% during the 4th quarter. US Bancorp DE now owns 74,484 shares of the basic materials company's stock worth $10,687,000 after buying an additional 10,360 shares during the period. Affinity Wealth Management LLC acquired a new position in Southern Copper during the 4th quarter worth approximately $3,379,000. Finally, Ashoka WhiteOak Capital Pte Ltd bought a new position in Southern Copper in the fourth quarter worth approximately $5,460,000. 7.94% of the stock is currently owned by institutional investors.

About Southern Copper

Southern Copper Corporation NYSE: SCCO is a large, integrated copper producer whose operations span the full value chain from exploration and mining to smelting, refining and the sale of copper and other metal products. The company produces a range of copper products including copper concentrate and refined cathodes, and recovers valuable byproducts such as molybdenum, silver and zinc. Southern Copper concentrates on high-volume, long-life assets designed to support steady production and processing capabilities.

Southern Copper's operations are concentrated in Peru and Mexico, where it owns and operates multiple large-scale mining and processing facilities.

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