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

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

According to Zacks, 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 fiscal year, analysts anticipate that the firm will report earnings of $2.89 per share, with EPS estimates ranging from $2.61 to $3.40. Zacks’ EPS averages are a mean average based on a survey of research firms that cover Southern Copper.

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

Several research analysts have commented on the stock. Scotiabank set a $40.00 price objective on shares of Southern Copper and gave the stock a “sell” rating in a research note on Monday, August 6th. B. Riley dropped their price objective on shares of Southern Copper from $55.00 to $49.00 and set a “neutral” rating for the company in a research note on Wednesday, September 19th. Citigroup raised shares of Southern Copper from a “sell” rating to a “neutral” rating and set a $43.00 price objective for the company in a research note on Monday, October 8th. Bradesco Corretora raised shares of Southern Copper from an “underperform” rating to a “hold” rating and dropped their price objective for the stock from $45.00 to $42.00 in a research note on Tuesday, November 20th. Finally, HSBC lowered shares of Southern Copper from a “hold” rating to a “reduce” rating in a research note on Monday, November 26th. Five research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $44.56.

SCCO stock opened at $33.48 on Wednesday. Southern Copper has a fifty-two week low of $31.17 and a fifty-two week 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 firm has a market capitalization of $25.93 billion, a P/E ratio of 21.78 and a beta of 0.67.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 21st. Shareholders of record on Wednesday, November 7th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 4.78%. The ex-dividend date of this dividend was Tuesday, November 6th.

Institutional investors and hedge funds have recently modified their holdings of the company. Piedmont Investment Advisors LLC purchased a new stake in shares of Southern Copper during the second quarter valued at $122,000. Navellier & Associates Inc purchased a new stake in shares of Southern Copper during the second quarter valued at $139,000. Schroder Investment Management Group purchased a new stake in shares of Southern Copper during the second quarter valued at $158,000. Altman Advisors Inc. purchased a new stake in shares of Southern Copper during the second quarter valued at $204,000. Finally, Cadence Capital Management LLC purchased a new stake in shares of Southern Copper during the second quarter valued at $253,000. 7.80% of the stock is owned by hedge funds and other institutional investors.

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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