LONDON, UK / ACCESSWIRE / May 07, 2018 / Active-Investors has a free review on Southern Copper Corp. (NYSE: SCCO) following the Company's announcement that it will begin trading ex-dividend on May 08, 2018. To capture the dividend payout, investors must purchase the stock a day prior to the ex-dividend date that is by latest at the end of the trading session on May 07, 2018. Active-Investors has initiated due-diligence on this dividend stock. Register with us for more free research including the one on SCCO:
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On April 19, 2018, Southern Copper announced a quarterly dividend of $0.30 per share of common stock, payable on May 23, 2018, to shareholders of record at the close of business on May 09, 2018.
Southern Copper's indicated dividend represents a yield of 2.32% compared to the average dividend yield of 2.48% for the Basic Materials sector.
Southern Copper has a dividend payout ratio of 46.3%, which indicates that the Company spends approximately $0.46 for dividend distribution out of every $1.00 earned. The dividend payout ratio reflects how much amount a company is returning to shareholders versus how much money it is keeping on hand to reinvest in growth, to pay off debt, and/or to add to its cash reserves.
According to analysts' estimates, Southern Copper is forecasting to report earnings of $2.88 per share for the next year, which is more than double compared to the Company's annualized dividend of $1.20 per share.
As of March 31, 2018, Southern Copper's cash and cash equivalents totaled $1.06 billion compared to $698.7 million as on March 31, 2017. For Q1 2018, the Company's cash flow from operating activities was $649.8 million, reflecting a 32.6% increase when compared with $490.1 million in Q1 2017. This improvement resulted from strong cash generated from operations due to higher metal prices. The Company's strong financial position indicates its ability to absorb any fluctuations in earnings and cash flow and to sustain the dividend distribution for a long period.
On April 25, 2018, Southern Copper announced results for Q1 2018. The Company's Q1 2018 net income was $470.7 million, 49.7% higher than net income of $314.4 million in Q1 2017. Southern Copper's net income margin was 25.6% in the reported quarter compared to 19.9% in the prior year's same quarter. These increases were mainly due to higher sales and the Company's cost-control initiatives.
During Q1 2018, the Company's Copper production decreased 4.2% on a y-o-y basis, principally due to a lower production at the Buenavista SX-EW plant. Southern Copper's Silver mine production increased by 3.9% on a y-o-y basis in Q1 2018, mainly as result of higher production at its Buenavista and La Caridad mines.
About Southern Copper Corp.
Southern Copper is one of the largest integrated copper producers in the world and has the largest copper reserves of the industry. The Company is 88.9% owned by Grupo Mexico, a Mexican company listed on the Mexican Stock Exchange. The remaining 11.1% ownership interest is held by the international investment community. Southern Copper operates mining units and metallurgical facilities in Mexico and Peru, and it conducts exploration activities in Argentina, Chile, Ecuador, Mexico, and Peru.
Stock Performance Snapshot
May 04, 2018 - At Friday's closing bell, Southern Copper's stock rose 2.22%, ending the trading session at $52.96.
Volume traded for the day: 1.17 million shares, which was above the 3-month average volume of 1.13 million shares.
Stock performance in the last three-month – up 11.73%; previous six-month period – up 23.16%; past twelve-month period – up 60.44%; and year-to-date – up 11.61%
After last Friday's close, Southern Copper's market cap was at $40.00 billion.
Price to Earnings (P/E) ratio was at 24.51.
The stock has a dividend yield of 2.27%.
The stock is part of the Basic Materials sector, categorized under the Copper industry. This sector was up 0.7% at the end of the session.
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