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Here's Why Southern Copper (SCCO) Fell More Than Broader Market
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In the latest trading session, Southern Copper (SCCO - Free Report) closed at $200.57, marking a -1.81% move from the previous day. The stock's performance was behind the S&P 500's daily loss of 0.22%. Elsewhere, the Dow saw a downswing of 0.66%, while the tech-heavy Nasdaq depreciated by 0.22%.
Coming into today, shares of the miner had lost 2.06% in the past month. In that same time, the Basic Materials sector lost 6.74%, while the S&P 500 gained 1.4%.
The investment community will be paying close attention to the earnings performance of Southern Copper in its upcoming release. It is anticipated that the company will report an EPS of $2, marking a 48.15% rise compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $4.36 billion, up 29.08% from the year-ago period.
SCCO's full-year Zacks Consensus Estimates are calling for earnings of $7.86 per share and revenue of $17.36 billion. These results would represent year-over-year changes of +50% and +29.37%, respectively.
Investors should also note any recent changes to analyst estimates for Southern Copper. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 3.48% higher. Southern Copper presently features a Zacks Rank of #3 (Hold).
Looking at valuation, Southern Copper is presently trading at a Forward P/E ratio of 26. This expresses a premium compared to the average Forward P/E of 25.79 of its industry.
Investors should also note that SCCO has a PEG ratio of 1.82 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. As of the close of trade yesterday, the Mining - Non Ferrous industry held an average PEG ratio of 0.96.
The Mining - Non Ferrous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 223, putting it in the bottom 10% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.
View the Zacks #1 Rank List
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Here's Why Southern Copper (SCCO) Fell More Than Broader Market
In the latest trading session, Southern Copper (SCCO - Free Report) closed at $200.57, marking a -1.81% move from the previous day. The stock's performance was behind the S&P 500's daily loss of 0.22%. Elsewhere, the Dow saw a downswing of 0.66%, while the tech-heavy Nasdaq depreciated by 0.22%.
Coming into today, shares of the miner had lost 2.06% in the past month. In that same time, the Basic Materials sector lost 6.74%, while the S&P 500 gained 1.4%.
The investment community will be paying close attention to the earnings performance of Southern Copper in its upcoming release. It is anticipated that the company will report an EPS of $2, marking a 48.15% rise compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $4.36 billion, up 29.08% from the year-ago period.
SCCO's full-year Zacks Consensus Estimates are calling for earnings of $7.86 per share and revenue of $17.36 billion. These results would represent year-over-year changes of +50% and +29.37%, respectively.
Investors should also note any recent changes to analyst estimates for Southern Copper. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 3.48% higher. Southern Copper presently features a Zacks Rank of #3 (Hold).
Looking at valuation, Southern Copper is presently trading at a Forward P/E ratio of 26. This expresses a premium compared to the average Forward P/E of 25.79 of its industry.
Investors should also note that SCCO has a PEG ratio of 1.82 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. As of the close of trade yesterday, the Mining - Non Ferrous industry held an average PEG ratio of 0.96.
The Mining - Non Ferrous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 223, putting it in the bottom 10% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.