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Southern Copper (SCCO) Outpaces Stock Market Gains: What You Should Know
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Southern Copper (SCCO - Free Report) closed at $64.08 in the latest trading session, marking a +1.01% move from the prior day. This change outpaced the S&P 500's 0.31% gain on the day. At the same time, the Dow added 0.05%, and the tech-heavy Nasdaq gained 0.14%.
Coming into today, shares of the miner had gained 3.31% in the past month. In that same time, the Basic Materials sector gained 0.45%, while the S&P 500 lost 1.38%.
Wall Street will be looking for positivity from Southern Copper as it approaches its next earnings report date. On that day, Southern Copper is projected to report earnings of $1.08 per share, which would represent a year-over-year decline of 10.74%. Our most recent consensus estimate is calling for quarterly revenue of $2.82 billion, down 2.68% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.14 per share and revenue of $11.11 billion, which would represent changes of -5.69% and +1.63%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Southern Copper. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, the Zacks Consensus EPS estimate has moved 2.36% lower. Southern Copper currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Southern Copper currently has a Forward P/E ratio of 15.34. For comparison, its industry has an average Forward P/E of 8.12, which means Southern Copper is trading at a premium to the group.
It is also worth noting that SCCO currently has a PEG ratio of 1.85. 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. SCCO's industry had an average PEG ratio of 1.11 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 75, putting it in the top 30% 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.
To follow SCCO in the coming trading sessions, be sure to utilize Zacks.com.
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Southern Copper (SCCO) Outpaces Stock Market Gains: What You Should Know
Southern Copper (SCCO - Free Report) closed at $64.08 in the latest trading session, marking a +1.01% move from the prior day. This change outpaced the S&P 500's 0.31% gain on the day. At the same time, the Dow added 0.05%, and the tech-heavy Nasdaq gained 0.14%.
Coming into today, shares of the miner had gained 3.31% in the past month. In that same time, the Basic Materials sector gained 0.45%, while the S&P 500 lost 1.38%.
Wall Street will be looking for positivity from Southern Copper as it approaches its next earnings report date. On that day, Southern Copper is projected to report earnings of $1.08 per share, which would represent a year-over-year decline of 10.74%. Our most recent consensus estimate is calling for quarterly revenue of $2.82 billion, down 2.68% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.14 per share and revenue of $11.11 billion, which would represent changes of -5.69% and +1.63%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Southern Copper. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, the Zacks Consensus EPS estimate has moved 2.36% lower. Southern Copper currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Southern Copper currently has a Forward P/E ratio of 15.34. For comparison, its industry has an average Forward P/E of 8.12, which means Southern Copper is trading at a premium to the group.
It is also worth noting that SCCO currently has a PEG ratio of 1.85. 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. SCCO's industry had an average PEG ratio of 1.11 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 75, putting it in the top 30% 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.
To follow SCCO in the coming trading sessions, be sure to utilize Zacks.com.