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Southern Copper (SCCO) Gains As Market Dips: What You Should Know
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In the latest trading session, Southern Copper (SCCO - Free Report) closed at $62.58, marking a +1.91% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.06%. Elsewhere, the Dow gained 0.59%, while the tech-heavy Nasdaq lost 0.3%.
Coming into today, shares of the miner had gained 4.49% in the past month. In that same time, the Basic Materials sector gained 5.87%, while the S&P 500 gained 5.76%.
Investors will be hoping for strength from Southern Copper as it approaches its next earnings release. On that day, Southern Copper is projected to report earnings of $1.18 per share, which would represent year-over-year growth of 55.26%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.61 billion, up 10.84% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Southern Copper. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 4.4% higher. Southern Copper currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Southern Copper is currently trading at a Forward P/E ratio of 14.92. This represents a premium compared to its industry's average Forward P/E of 10.31.
Investors should also note that SCCO has a PEG ratio of 0.93 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Mining - Non Ferrous industry currently had an average PEG ratio of 0.35 as of yesterday's close.
The Mining - Non Ferrous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 124, which puts it in the top 49% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Southern Copper (SCCO) Gains As Market Dips: What You Should Know
In the latest trading session, Southern Copper (SCCO - Free Report) closed at $62.58, marking a +1.91% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.06%. Elsewhere, the Dow gained 0.59%, while the tech-heavy Nasdaq lost 0.3%.
Coming into today, shares of the miner had gained 4.49% in the past month. In that same time, the Basic Materials sector gained 5.87%, while the S&P 500 gained 5.76%.
Investors will be hoping for strength from Southern Copper as it approaches its next earnings release. On that day, Southern Copper is projected to report earnings of $1.18 per share, which would represent year-over-year growth of 55.26%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.61 billion, up 10.84% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Southern Copper. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 4.4% higher. Southern Copper currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Southern Copper is currently trading at a Forward P/E ratio of 14.92. This represents a premium compared to its industry's average Forward P/E of 10.31.
Investors should also note that SCCO has a PEG ratio of 0.93 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Mining - Non Ferrous industry currently had an average PEG ratio of 0.35 as of yesterday's close.
The Mining - Non Ferrous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 124, which puts it in the top 49% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.