Wall Street analysts expect Southern Copper Corp (NYSE:SCCO) to announce $1.94 billion in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Southern Copper’s earnings, with the highest sales estimate coming in at $1.99 billion and the lowest estimate coming in at $1.89 billion. Southern Copper posted sales of $1.68 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 15.5%. The business is expected to issue its next earnings results on Friday, October 19th.
On average, analysts expect that Southern Copper will report full year sales of $7.40 billion for the current year, with estimates ranging from $7.11 billion to $7.61 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $8.35 billion, with estimates ranging from $8.08 billion to $8.78 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Southern Copper.
Southern Copper (NYSE:SCCO) last posted its earnings results on Wednesday, August 1st. The basic materials company reported $0.53 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by ($0.11). Southern Copper had a return on equity of 15.48% and a net margin of 13.78%. The firm had revenue of $1.84 billion for the quarter.
Several research firms recently issued reports on SCCO. B. Riley decreased their target price on Southern Copper from $55.00 to $49.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 19th. ValuEngine lowered Southern Copper from a “buy” rating to a “hold” rating in a research note on Monday, July 2nd. Citigroup raised Southern Copper from a “sell” rating to a “neutral” rating and set a $43.00 target price on the stock in a research note on Monday, October 8th. Finally, Scotiabank set a $40.00 price target on Southern Copper and gave the stock a “sell” rating in a report on Monday, August 6th. Four analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $45.94.
SCCO opened at $41.76 on Friday. Southern Copper has a 12-month low of $39.18 and a 12-month high of $58.09. The company has a current ratio of 3.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.91.
Several institutional investors and hedge funds have recently added to or reduced their stakes in SCCO. Wells Fargo & Company MN boosted its position in shares of Southern Copper by 2.5% in the 1st quarter. Wells Fargo & Company MN now owns 63,425 shares of the basic materials company’s stock valued at $3,436,000 after purchasing an additional 1,532 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Southern Copper by 46.5% in the 1st quarter. JPMorgan Chase & Co. now owns 149,355 shares of the basic materials company’s stock valued at $8,091,000 after purchasing an additional 47,393 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Southern Copper by 15.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 11,709 shares of the basic materials company’s stock valued at $634,000 after purchasing an additional 1,549 shares during the period. Principal Financial Group Inc. boosted its position in shares of Southern Copper by 3.2% in the 1st quarter. Principal Financial Group Inc. now owns 128,496 shares of the basic materials company’s stock valued at $6,962,000 after purchasing an additional 3,967 shares during the period. Finally, Baird Financial Group Inc. acquired a new stake in shares of Southern Copper in the 1st quarter valued at about $217,000. Institutional investors and hedge funds own 7.50% of the company’s stock.
Southern Copper Company Profile
Southern Copper Corporation engages in mining, exploring, smelting, and refining copper and other minerals in Peru, Mexico, Argentina, Chile, and Ecuador. The company is involved in the mining, milling, and flotation of copper ore to produce copper and molybdenum concentrates; smelting of copper concentrates to produce blister and anode copper; refining of anode copper to produce copper cathodes; production of molybdenum concentrate and sulfuric acid; production of refined silver, gold, and other materials; and mining and processing of zinc and lead.
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