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Southern Copper (SCCO) Gains As Market Dips: What You Should Know
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Southern Copper (SCCO - Free Report) closed the most recent trading day at $74.46, moving +0.05% from the previous trading session. This change outpaced the S&P 500's 0.88% loss on the day. Elsewhere, the Dow lost 0.73%, while the tech-heavy Nasdaq lost 4.59%.
Coming into today, shares of the miner had gained 1.24% in the past month. In that same time, the Basic Materials sector gained 3.36%, while the S&P 500 gained 5.83%.
Southern Copper will be looking to display strength as it nears its next earnings release. On that day, Southern Copper is projected to report earnings of $0.80 per share, which would represent a year-over-year decline of 25.93%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.5 billion, down 11.6% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Southern Copper. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 5.7% higher within the past month. Southern Copper is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Southern Copper has a Forward P/E ratio of 23.14 right now. Its industry sports an average Forward P/E of 15.48, so we one might conclude that Southern Copper is trading at a premium comparatively.
Meanwhile, SCCO's PEG ratio is currently 4.24. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. SCCO's industry had an average PEG ratio of 1.26 as of yesterday's close.
The Mining - Non Ferrous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 200, putting it in the bottom 21% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Southern Copper (SCCO) Gains As Market Dips: What You Should Know
Southern Copper (SCCO - Free Report) closed the most recent trading day at $74.46, moving +0.05% from the previous trading session. This change outpaced the S&P 500's 0.88% loss on the day. Elsewhere, the Dow lost 0.73%, while the tech-heavy Nasdaq lost 4.59%.
Coming into today, shares of the miner had gained 1.24% in the past month. In that same time, the Basic Materials sector gained 3.36%, while the S&P 500 gained 5.83%.
Southern Copper will be looking to display strength as it nears its next earnings release. On that day, Southern Copper is projected to report earnings of $0.80 per share, which would represent a year-over-year decline of 25.93%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.5 billion, down 11.6% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Southern Copper. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 5.7% higher within the past month. Southern Copper is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Southern Copper has a Forward P/E ratio of 23.14 right now. Its industry sports an average Forward P/E of 15.48, so we one might conclude that Southern Copper is trading at a premium comparatively.
Meanwhile, SCCO's PEG ratio is currently 4.24. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. SCCO's industry had an average PEG ratio of 1.26 as of yesterday's close.
The Mining - Non Ferrous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 200, putting it in the bottom 21% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.