Southern Copper Co. (NYSE:SCCO) Increases Dividend to $0.70 Per Share

Southern Copper Co. (NYSE:SCCO) declared a quarterly dividend on Thursday, January 23rd,NASDAQ Dividends reports. Investors of record on Tuesday, February 11th will be paid a dividend of 0.70 per share by the basic materials company on Thursday, February 27th. This represents a $2.80 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date is Monday, February 10th. This is an increase from Southern Copper’s previous quarterly dividend of $0.60.

Southern Copper has decreased its dividend by an average of 37.0% annually over the last three years.

Southern Copper Price Performance

NYSE SCCO opened at $96.84 on Friday. Southern Copper has a 52-week low of $77.42 and a 52-week high of $129.79. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.77. The business has a 50 day simple moving average of $95.75 and a 200 day simple moving average of $102.36. The stock has a market cap of $76.07 billion, a price-to-earnings ratio of 24.93, a PEG ratio of 1.85 and a beta of 1.13.

Analysts Set New Price Targets

SCCO has been the topic of a number of analyst reports. Scotiabank dropped their price objective on Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating on the stock in a research note on Tuesday, October 15th. JPMorgan Chase & Co. upgraded shares of Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price objective for the company in a research report on Monday, December 2nd. Finally, Morgan Stanley upgraded Southern Copper from an “underweight” rating to an “equal weight” rating and lowered their price objective for the stock from $106.30 to $102.00 in a research report on Thursday, December 12th. Four analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $94.81.

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.