Southern Copper Corp. (SCCO, Financial) informed the market about the payment of a 30-cent quarterly dividend per ordinary share, and the stock jumped 1.16% yesterday, Jan. 26, on the New York Stock Exchange to $50.63 per unit.
The quarterly dividend that Southern Copper Corp. will pay to its shareholders on Feb. 27 is a 20% increase from the previous interim distribution of 25 cents.
To receive the dividend, payees must be on Southern Copper Corp.'s books as a shareholder no later than Feb. 13.
The ex-dividend date is Feb. 12.
Helped by a rising commodity, Southern Copper Corp. is up-trending on the New York Stock Exchange. For the 52 weeks through Jan. 26 the copper mining company earned 32% on the U.S. stock market.
Source: Yahoo Finance
The stock is now trading plainly above the 200, 100 and 50-SMA lines. The Relative Strength Indicator (14 days) is 67.82. The stock is only a few cents below the 52-week high of $50.63. The 52-week low is $32.63.
The recommendation rating is 3.4 out of a total of 5. The average target price is $42.88 per share. This represents a 15.31% downside from the current market valuation.
Some other indicators on Southern Copper Corp. see the base metal stock having a price-book (P/B) ratio of 5.92, which is higher than the industry average ratio of 2.01. The EV-to-Ebitda ratio is 15.30 times versus an industry median of 10.14 times. The Ebitda margin is 46.7% of total revenues towards an industry median of 70.5%.
Southern Copper has a market capitalization of $33.34 billion.
Southern Copper is a Mexican mining company engaged through mines and facilities that are in South America -- Peru and Mexico -- in the production of copper and molybdenum concentrates, in smelting and refining operations to produce blister, anode copper from concentrates and copper cathodes. The company also produces zinc and silver. However, the sale of the red metal accounts for approximately 85% of the Southern Copper’s total revenue.
Among the top institutional holders, Blackrock Inc. is the most prominent with 0.90% of the company’s shares outstanding.
Operating and financial results for full fiscal 2017 and its fourth quarter are estimated to be published on Feb. 7.
Consensus is for an earnings per share of 59 cents for the quarter and of $1.91 for the entire year. Revenue is predicted at $1.76 billion for the fourth quarter of 2017, while for full fiscal 2017, analysts expect the company will report revenue of $6.61 billion.
Disclosure: I have no positions in Southern Copper Corp.
