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

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

Southern Copper Price Performance

Shares of SCCO opened at $179.69 on Friday. The business’s fifty day moving average is $180.76 and its 200 day moving average is $183.39. Southern Copper has a 12-month low of $88.73 and a 12-month high of $223.88. The company has a quick ratio of 3.89, a current ratio of 4.38 and a debt-to-equity ratio of 0.57. The stock 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.

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 net margin of 35.87% and a return on equity of 50.74%. The business had revenue of $4.29 billion during the quarter, compared to analyst estimates of $4.37 billion. The business’s revenue for the quarter was up 40.6% compared to the same quarter last year. Sell-side analysts anticipate that Southern Copper will post 7.63 earnings per share for the current fiscal year.

Southern Copper Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Tuesday, August 11th will be issued a $1.10 dividend. The ex-dividend date is Tuesday, August 11th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.4%. This is a boost from Southern Copper’s previous quarterly dividend of $1.00. Southern Copper’s dividend payout ratio (DPR) is currently 58.48%.

Wall Street Analyst Weigh In

A number of analysts have commented on SCCO shares. Scotiabank reissued an “underperform” rating and set a $140.00 price objective (up from $135.00) on shares of Southern Copper in a report on Monday, June 15th. Wells Fargo & Company lifted their target price on Southern Copper from $171.00 to $172.00 and gave the company an “equal weight” rating in a research report on Thursday, July 9th. Morgan Stanley upped their price target on Southern Copper from $146.00 to $158.00 and gave the stock an “underweight” rating in a report on Wednesday, July 8th. Barclays set a $166.00 price target on Southern Copper and gave the company an “underweight” rating in a research report on Thursday. Finally, UBS Group restated a “sell” rating and set a $160.00 price objective (up from $145.00) on shares of Southern Copper in a research note on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have assigned a Hold rating and seven have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $148.60.

Insider Buying and Selling

In related news, Director Bonilla Luis Miguel Palomino sold 200 shares of Southern Copper stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $177.82, for a total transaction of $35,564.00. Following the sale, the director directly owned 1,807 shares in the company, valued at approximately $321,320.74. This trade represents a 9.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 404 shares of company stock worth $74,108 in the last 90 days. Company insiders own 0.07% of the company’s stock.

Institutional Investors Weigh In On Southern Copper

Several large investors have recently made changes to their positions in SCCO. State Street Corp raised its stake in shares of Southern Copper by 2.4% during the 4th quarter. State Street Corp now owns 2,862,244 shares of the basic materials company’s stock worth $410,646,000 after purchasing an additional 66,268 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of Southern Copper by 0.3% in the 4th quarter. Fisher Asset Management LLC now owns 2,536,228 shares of the basic materials company’s stock worth $363,873,000 after buying an additional 7,194 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Southern Copper by 8.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,181,293 shares of the basic materials company’s stock valued at $169,480,000 after buying an additional 90,237 shares during the period. Vanguard Group Inc. grew its position in Southern Copper by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 983,822 shares of the basic materials company’s stock valued at $141,149,000 after buying an additional 33,804 shares during the period. Finally, Legal & General Group Plc increased its holdings in Southern Copper by 1.5% during the third quarter. Legal & General Group Plc now owns 955,924 shares of the basic materials company’s stock worth $116,012,000 after buying an additional 14,212 shares during the last quarter. 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.