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

Southern Copper Corporation (NYSE:SCCO) shares are going 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 Up 0.0%

Shares of NYSE:SCCO opened at $182.79 on Monday. The company has a fifty day moving average of $181.30 and a 200-day moving average of $184.19. The company has a market capitalization of $150.99 billion, a PE ratio of 26.72, a price-to-earnings-growth ratio of 1.57 and a beta of 1.11. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.89 and a current ratio of 4.38. Southern Copper has a 52-week low of $89.87 and a 52-week high of $223.88.

Southern Copper (NYSE:SCCO) last announced its quarterly earnings results on Wednesday, July 22nd. The basic materials company reported $2.01 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.06. Southern Copper had a return on equity of 50.74% and a net margin of 35.87%.The company had revenue of $4.29 billion during the quarter, compared to analysts’ expectations of $4.37 billion. The firm’s revenue was up 40.6% compared to the same quarter last year. On average, equities analysts predict that Southern Copper will post 7.63 EPS for the current fiscal year.

Southern Copper Increases Dividend

The company also recently disclosed 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. This is an increase from Southern Copper’s previous quarterly dividend of $1.00. This represents a $4.40 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Tuesday, August 11th. Southern Copper’s payout ratio is currently 58.48%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Wall Street Zen downgraded Southern Copper from a “buy” rating to a “hold” rating in a research report on Saturday. Scotiabank reaffirmed an “underperform” rating and set a $140.00 price target (up from $135.00) on shares of Southern Copper in a research note on Monday, June 15th. CICC Research downgraded Southern Copper to a “market perform” rating in a report on Sunday, July 26th. Weiss Ratings upgraded shares of Southern Copper from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, July 28th. Finally, Barclays set a $166.00 price objective on Southern Copper and gave the company an “underweight” rating in a research note on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have given a Hold rating and seven have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Southern Copper has an average rating of “Reduce” and an average target price of $148.60.

Insider Transactions at Southern Copper

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 200 shares of the business’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $177.82, for a total transaction of $35,564.00. Following the sale, the director 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 legal filing with the SEC, which is available through this link. Over the last quarter, insiders have sold 504 shares of company stock worth $92,008. Insiders own 0.07% of the company’s stock.

Institutional Investors Weigh In On Southern Copper

A number of institutional investors and hedge funds have recently modified their holdings of the company. SHP Wealth Management purchased a new stake in Southern Copper in the 4th quarter worth approximately $25,000. Lloyd Advisory Services LLC. bought a new position in shares of Southern Copper during the 4th quarter valued at about $29,000. Virtus Advisers LLC purchased a new stake in Southern Copper in the fourth quarter worth approximately $29,000. Godfrey Financial Associates Inc. bought a new position in Southern Copper during the fourth quarter valued at approximately $30,000. Finally, IFP Advisors Inc raised its position in Southern Copper by 233.3% in the 4th quarter. IFP Advisors Inc now owns 230 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 161 shares during the period. 7.94% of the stock is owned by hedge funds and other 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.