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Southern Copper (SCCO) Stock Sinks As Market Gains: What You Should Know
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Southern Copper (SCCO - Free Report) closed at $99.98 in the latest trading session, marking a -1.6% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 0.14%. Meanwhile, the Dow gained 0.2%, and the Nasdaq, a tech-heavy index, added 0.27%.
Shares of the miner witnessed a gain of 7.23% over the previous month, beating the performance of the Basic Materials sector with its gain of 2.46%, and the S&P 500's gain of 3.97%.
The investment community will be closely monitoring the performance of Southern Copper in its forthcoming earnings report. The company's upcoming EPS is projected at $1.06, signifying a 13.11% drop compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.01 billion, down 3.47% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $4.65 per share and a revenue of $12.23 billion, demonstrating changes of +7.39% and +6.93%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Southern Copper. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Within the past 30 days, our consensus EPS projection has moved 6.16% higher. Southern Copper is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Southern Copper is currently trading at a Forward P/E ratio of 21.84. Its industry sports an average Forward P/E of 22.01, so one might conclude that Southern Copper is trading at a discount comparatively.
Meanwhile, SCCO's PEG ratio is currently 2.33. 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. By the end of yesterday's trading, the Mining - Non Ferrous industry had an average PEG ratio of 0.85.
The Mining - Non Ferrous industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 54, finds itself in the top 22% echelons 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Southern Copper (SCCO) Stock Sinks As Market Gains: What You Should Know
Southern Copper (SCCO - Free Report) closed at $99.98 in the latest trading session, marking a -1.6% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 0.14%. Meanwhile, the Dow gained 0.2%, and the Nasdaq, a tech-heavy index, added 0.27%.
Shares of the miner witnessed a gain of 7.23% over the previous month, beating the performance of the Basic Materials sector with its gain of 2.46%, and the S&P 500's gain of 3.97%.
The investment community will be closely monitoring the performance of Southern Copper in its forthcoming earnings report. The company's upcoming EPS is projected at $1.06, signifying a 13.11% drop compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.01 billion, down 3.47% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $4.65 per share and a revenue of $12.23 billion, demonstrating changes of +7.39% and +6.93%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Southern Copper. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Within the past 30 days, our consensus EPS projection has moved 6.16% higher. Southern Copper is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Southern Copper is currently trading at a Forward P/E ratio of 21.84. Its industry sports an average Forward P/E of 22.01, so one might conclude that Southern Copper is trading at a discount comparatively.
Meanwhile, SCCO's PEG ratio is currently 2.33. 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. By the end of yesterday's trading, the Mining - Non Ferrous industry had an average PEG ratio of 0.85.
The Mining - Non Ferrous industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 54, finds itself in the top 22% echelons 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.