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Southern Copper (SCCO) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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Southern Copper (SCCO - Free Report) ended the recent trading session at $194.14, demonstrating a -7.23% change from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily loss of 0.59%. Meanwhile, the Dow lost 0.6%, and the Nasdaq, a tech-heavy index, lost 0.65%.
Coming into today, shares of the miner had gained 7.37% in the past month. In that same time, the Basic Materials sector gained 2.83%, while the S&P 500 lost 1.37%.
Market participants will be closely following the financial results of Southern Copper in its upcoming release. The company's earnings per share (EPS) are projected to be $2, reflecting a 48.15% increase from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $4.36 billion, showing a 29.08% escalation compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $7.83 per share and a revenue of $17.36 billion, indicating changes of +49.43% and +29.37%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for Southern Copper. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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, 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 past month, the Zacks Consensus EPS estimate has shifted 2.62% upward. Right now, Southern Copper possesses a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Southern Copper has a Forward P/E ratio of 26.73 right now. This indicates a discount in contrast to its industry's Forward P/E of 26.91.
It is also worth noting that SCCO currently has a PEG ratio of 1.87. 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. Mining - Non Ferrous stocks are, on average, holding a PEG ratio of 1.06 based on yesterday's closing prices.
The Mining - Non Ferrous industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 214, placing it within the bottom 14% of over 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
View the Zacks #1 Rank List
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Southern Copper (SCCO) Sees a More Significant Dip Than Broader Market: Some Facts to Know
Southern Copper (SCCO - Free Report) ended the recent trading session at $194.14, demonstrating a -7.23% change from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily loss of 0.59%. Meanwhile, the Dow lost 0.6%, and the Nasdaq, a tech-heavy index, lost 0.65%.
Coming into today, shares of the miner had gained 7.37% in the past month. In that same time, the Basic Materials sector gained 2.83%, while the S&P 500 lost 1.37%.
Market participants will be closely following the financial results of Southern Copper in its upcoming release. The company's earnings per share (EPS) are projected to be $2, reflecting a 48.15% increase from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $4.36 billion, showing a 29.08% escalation compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $7.83 per share and a revenue of $17.36 billion, indicating changes of +49.43% and +29.37%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for Southern Copper. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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, 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 past month, the Zacks Consensus EPS estimate has shifted 2.62% upward. Right now, Southern Copper possesses a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Southern Copper has a Forward P/E ratio of 26.73 right now. This indicates a discount in contrast to its industry's Forward P/E of 26.91.
It is also worth noting that SCCO currently has a PEG ratio of 1.87. 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. Mining - Non Ferrous stocks are, on average, holding a PEG ratio of 1.06 based on yesterday's closing prices.
The Mining - Non Ferrous industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 214, placing it within the bottom 14% of over 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.