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Southern Copper (SCCO) Suffers a Larger Drop Than the General Market: Key Insights
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Southern Copper (SCCO - Free Report) closed at $130.57 in the latest trading session, marking a -1.48% move from the prior day. The stock fell short of the S&P 500, which registered a loss of 0.28% for the day. Elsewhere, the Dow saw a downswing of 0.52%, while the tech-heavy Nasdaq depreciated by 0.08%.
Shares of the miner witnessed a gain of 29.8% over the previous month, beating the performance of the Basic Materials sector with its gain of 0.4%, and the S&P 500's gain of 4.03%.
Market participants will be closely following the financial results of Southern Copper in its upcoming release. On that day, Southern Copper is projected to report earnings of $1.11 per share, which would represent a year-over-year decline of 3.48%. Alongside, our most recent consensus estimate is anticipating revenue of $3.09 billion, indicating a 5.28% upward movement from the same quarter last year.
SCCO's full-year Zacks Consensus Estimates are calling for earnings of $4.78 per share and revenue of $12.29 billion. These results would represent year-over-year changes of +10.39% and +7.52%, respectively.
Investors might also notice recent changes to analyst estimates for Southern Copper. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.14% increase. At present, Southern Copper boasts a Zacks Rank of #3 (Hold).
In terms of valuation, Southern Copper is currently trading at a Forward P/E ratio of 27.75. Its industry sports an average Forward P/E of 28.57, so one might conclude that Southern Copper is trading at a discount comparatively.
Also, we should mention that SCCO has a PEG ratio of 1.35. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Mining - Non Ferrous stocks are, on average, holding a PEG ratio of 0.96 based on yesterday's closing prices.
The Mining - Non Ferrous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 26, putting it in the top 11% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Southern Copper (SCCO) Suffers a Larger Drop Than the General Market: Key Insights
Southern Copper (SCCO - Free Report) closed at $130.57 in the latest trading session, marking a -1.48% move from the prior day. The stock fell short of the S&P 500, which registered a loss of 0.28% for the day. Elsewhere, the Dow saw a downswing of 0.52%, while the tech-heavy Nasdaq depreciated by 0.08%.
Shares of the miner witnessed a gain of 29.8% over the previous month, beating the performance of the Basic Materials sector with its gain of 0.4%, and the S&P 500's gain of 4.03%.
Market participants will be closely following the financial results of Southern Copper in its upcoming release. On that day, Southern Copper is projected to report earnings of $1.11 per share, which would represent a year-over-year decline of 3.48%. Alongside, our most recent consensus estimate is anticipating revenue of $3.09 billion, indicating a 5.28% upward movement from the same quarter last year.
SCCO's full-year Zacks Consensus Estimates are calling for earnings of $4.78 per share and revenue of $12.29 billion. These results would represent year-over-year changes of +10.39% and +7.52%, respectively.
Investors might also notice recent changes to analyst estimates for Southern Copper. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.14% increase. At present, Southern Copper boasts a Zacks Rank of #3 (Hold).
In terms of valuation, Southern Copper is currently trading at a Forward P/E ratio of 27.75. Its industry sports an average Forward P/E of 28.57, so one might conclude that Southern Copper is trading at a discount comparatively.
Also, we should mention that SCCO has a PEG ratio of 1.35. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Mining - Non Ferrous stocks are, on average, holding a PEG ratio of 0.96 based on yesterday's closing prices.
The Mining - Non Ferrous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 26, putting it in the top 11% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.