Q1 2019 EPS Estimates for Southern Copper Corp Cut by B. Riley (SCCO)

Southern Copper Corp (NYSE:SCCO) – Investment analysts at B. Riley dropped their Q1 2019 earnings per share (EPS) estimates for Southern Copper in a research note issued to investors on Wednesday, November 7th. B. Riley analyst L. Pipes now forecasts that the basic materials company will post earnings per share of $0.66 for the quarter, down from their prior estimate of $0.75. B. Riley currently has a “Neutral” rating and a $49.00 price objective on the stock. B. Riley also issued estimates for Southern Copper’s Q4 2019 earnings at $0.66 EPS and FY2019 earnings at $2.65 EPS.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings results on Wednesday, October 24th. The basic materials company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.02). The company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Southern Copper had a return on equity of 14.97% and a net margin of 13.24%.

Several other research firms also recently weighed in on SCCO. Scotiabank set a $40.00 price target on Southern Copper and gave the stock a “sell” rating in a research note on Monday, August 6th. Citigroup upgraded Southern Copper from a “sell” rating to a “neutral” rating and set a $43.00 price target on the stock in a research note on Monday, October 8th. Santander downgraded Southern Copper from a “buy” rating to a “hold” rating in a research note on Tuesday, October 16th. Finally, UBS Group upgraded Southern Copper from a “neutral” rating to a “buy” rating and set a $46.00 price target on the stock in a research note on Friday, November 2nd. Three research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. Southern Copper currently has a consensus rating of “Hold” and an average target price of $46.13.

Southern Copper stock opened at $38.09 on Friday. The company has a current ratio of 2.71, a quick ratio of 1.88 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $30.71 billion, a P/E ratio of 25.79 and a beta of 0.67. Southern Copper has a twelve month low of $35.59 and a twelve month high of $58.09.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 21st. Shareholders of record on Wednesday, November 7th will be paid a dividend of $0.40 per share. The ex-dividend date is Tuesday, November 6th. This represents a $1.60 annualized dividend and a yield of 4.20%.

A number of institutional investors and hedge funds have recently modified their holdings of SCCO. Piedmont Investment Advisors LLC purchased a new stake in Southern Copper during the 2nd quarter valued at $122,000. Navellier & Associates Inc purchased a new stake in Southern Copper during the 2nd quarter valued at $139,000. Schroder Investment Management Group purchased a new stake in Southern Copper during the 2nd quarter valued at $158,000. Altman Advisors Inc. purchased a new stake in Southern Copper during the 2nd quarter valued at $204,000. Finally, Cadence Capital Management LLC purchased a new stake in Southern Copper during the 2nd quarter valued at $253,000. Institutional investors and hedge funds own 7.97% 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.

Further Reading: Understanding Price to Earnings Ratio (PE)

Earnings History and Estimates for Southern Copper (NYSE:SCCO)

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