$0.55 Earnings Per Share Expected for Southern Copper Corp (SCCO) This Quarter

Brokerages forecast that Southern Copper Corp (NYSE:SCCO) will report earnings of $0.55 per share for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Southern Copper’s earnings. The lowest EPS estimate is $0.46 and the highest is $0.70. Southern Copper reported earnings of ($0.38) per share in the same quarter last year, which indicates a positive year over year growth rate of 244.7%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, January 23rd.

On average, analysts expect that Southern Copper will report full-year earnings of $2.18 per share for the current fiscal year, with EPS estimates ranging from $2.08 to $2.38. For the next year, analysts forecast that the business will report earnings of $2.89 per share, with EPS estimates ranging from $2.61 to $3.40. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that cover Southern Copper.

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

Several research firms recently issued reports on SCCO. Scotiabank set a $40.00 price target on Southern Copper and gave the company a “sell” rating in a report on Monday, August 6th. B. Riley decreased their price target on Southern Copper from $55.00 to $49.00 and set a “neutral” rating on the stock in a report on Wednesday, September 19th. Citigroup upgraded Southern Copper from a “sell” rating to a “neutral” rating and set a $43.00 price target on the stock in a report on Monday, October 8th. 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 report on Friday, November 2nd. Finally, Santander cut Southern Copper from a “buy” rating to a “hold” rating in a report on Tuesday, October 16th. Three analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $46.13.

Southern Copper stock traded down $1.12 during mid-day trading on Monday, hitting $37.93. The stock had a trading volume of 781,462 shares, compared to its average volume of 1,128,297. The stock has a market cap of $30.71 billion, a price-to-earnings ratio of 25.79 and a beta of 0.67. Southern Copper has a 12 month low of $35.59 and a 12 month high of $58.09. The company has a quick ratio of 1.88, a current ratio of 2.71 and a debt-to-equity ratio of 0.90.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 21st. Shareholders of record on Wednesday, November 7th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 4.22%. The ex-dividend date is Tuesday, November 6th.

A number of institutional investors and hedge funds have recently modified their holdings of SCCO. Piedmont Investment Advisors LLC bought a new position in Southern Copper during the second quarter worth about $122,000. Navellier & Associates Inc acquired a new stake in shares of Southern Copper during the second quarter worth about $139,000. Schroder Investment Management Group acquired a new stake in shares of Southern Copper during the second quarter worth about $158,000. Altman Advisors Inc. acquired a new stake in shares of Southern Copper during the second quarter worth about $204,000. Finally, Cadence Capital Management LLC acquired a new stake in shares of Southern Copper during the second quarter worth about $253,000. Hedge funds and other institutional investors 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.

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