Southern Copper Corp (SCCO) To Go Ex-Dividend on February 8th

Southern Copper Corp (NYSE:SCCO) declared a special dividend on Thursday, February 7th, Wall Street Journal reports. Shareholders of record on Monday, February 11th will be paid a dividend of 0.444 per share by the basic materials company on Thursday, February 21st. This represents a dividend yield of 4.86%. The ex-dividend date of this dividend is Friday, February 8th.

Southern Copper has raised its dividend payment by an average of 60.3% per year over the last three years and has raised its dividend every year for the last 2 years. Southern Copper has a dividend payout ratio of 68.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Southern Copper to earn $2.33 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 68.7%.

Shares of Southern Copper stock traded down $1.38 during mid-day trading on Thursday, reaching $32.92. 1,313,452 shares of the stock traded hands, compared to its average volume of 1,200,656. Southern Copper has a fifty-two week low of $29.01 and a fifty-two week high of $58.09. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.71 and a quick ratio of 1.88.

SCCO has been the subject of a number of analyst reports. Santander lowered Southern Copper from a “buy” rating to a “hold” rating in a research report on Tuesday, October 16th. UBS Group upgraded Southern Copper from a “neutral” rating to a “buy” rating and set a $46.00 price target for the company in a research report on Friday, November 2nd. Citigroup lowered Southern Copper from a “neutral” rating to a “sell” rating and dropped their price target for the company from $43.00 to $33.00 in a research report on Monday, November 12th. Bradesco Corretora upgraded Southern Copper from an “underperform” rating to a “hold” rating and dropped their price target for the company from $45.00 to $42.00 in a research report on Tuesday, November 20th. Finally, HSBC lowered Southern Copper from a “hold” rating to a “reduce” rating and set a $32.12 price target for the company. in a research report on Sunday, December 2nd. Five research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $42.47.

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About Southern Copper

Southern Copper Corporation engages in mining, exploring, smelting, and refining copper and other minerals in Peru, Mexico, Argentina, Chile, and Ecuador. 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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Dividend History for Southern Copper (NYSE:SCCO)

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