6. Southern Copper (SCCO) is an integrated copper producer engaged in the production of copper, molybdenum, zinc and silver. The company has mining, smelting and refining facilities in Peru and Mexico, and exploration projects in Chile.
In the last week of July, the company declared a quarterly dividend of 62 cents per share payable on Aug. 31, 2011. Currently, SCCO has a dividend yield of 5.9%. The company recently approved the extension of its share repurchase program for up to $1 billion. The five-year net growth rate for dividend per share stands at 7.4%.
For the second quarter of 2011, SCCO recorded net income of $658 million, or 78 cents per share, compared to $313.4 million, or 37 cents per share, in the year-ago quarter. For the quarter, sales were $1.8 billion, 54% higher than the prior-year quarter, resulting from higher metal prices and a 30.2% increase in copper sales volume. Copper mined production for the second quarter increased 28.8% to 146,241 tons. Capital expenditure for the quarter stood at $110.7 million.For full-year 2011, the company expects copper production of 630,000 tons and pegs molybdenum production at 17,500 tons. Capital expenditure for the year is seen at $700 million, including maintenance capital expenditure of $200 million. Of the 17 analysts covering the stock, 59% recommend a buy and 35% rate a hold. Analysts polled by Bloomberg foresee the stock gaining an average 30.7% to $40.52 in the upcoming 12 months.
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