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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 $45.69, moving +0.71% from the previous trading session. This change outpaced the S&P 500's 1.07% loss on the day. Meanwhile, the Dow lost 1.07%, and the Nasdaq, a tech-heavy index, lost 0.07%.
Heading into today, shares of the miner had lost 2.01% over the past month, outpacing the Basic Materials sector's loss of 2.95% and the S&P 500's loss of 3.49% in that time.
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 $0.59 per share, which would represent a year-over-year decline of 47.32%. Our most recent consensus estimate is calling for quarterly revenue of $2.37 billion, down 11.76% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.80 per share and revenue of $9.89 billion, which would represent changes of -36.22% and -9.56%, respectively, from the prior year.
Any recent changes to analyst estimates for Southern Copper should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 16.49% lower. Southern Copper is currently a Zacks Rank #5 (Strong Sell).
Looking at its valuation, Southern Copper is holding a Forward P/E ratio of 16.18. For comparison, its industry has an average Forward P/E of 10.43, which means Southern Copper is trading at a premium to the group.
We can also see that SCCO currently has a PEG ratio of 1.96. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Mining - Non Ferrous industry currently had an average PEG ratio of 1.07 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 242, putting it in the bottom 4% 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.
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 $45.69, moving +0.71% from the previous trading session. This change outpaced the S&P 500's 1.07% loss on the day. Meanwhile, the Dow lost 1.07%, and the Nasdaq, a tech-heavy index, lost 0.07%.
Heading into today, shares of the miner had lost 2.01% over the past month, outpacing the Basic Materials sector's loss of 2.95% and the S&P 500's loss of 3.49% in that time.
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 $0.59 per share, which would represent a year-over-year decline of 47.32%. Our most recent consensus estimate is calling for quarterly revenue of $2.37 billion, down 11.76% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.80 per share and revenue of $9.89 billion, which would represent changes of -36.22% and -9.56%, respectively, from the prior year.
Any recent changes to analyst estimates for Southern Copper should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 16.49% lower. Southern Copper is currently a Zacks Rank #5 (Strong Sell).
Looking at its valuation, Southern Copper is holding a Forward P/E ratio of 16.18. For comparison, its industry has an average Forward P/E of 10.43, which means Southern Copper is trading at a premium to the group.
We can also see that SCCO currently has a PEG ratio of 1.96. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Mining - Non Ferrous industry currently had an average PEG ratio of 1.07 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 242, putting it in the bottom 4% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.