Southern Copper (SCCO) Increases Despite Market Slip: Here's What You Need to Know
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Southern Copper (SCCO) ended the recent trading session at $91.37, demonstrating a +0.94% swing from the preceding day's closing price. The stock's change was more than the S&P 500's daily loss of 0.47%. Elsewhere, the Dow lost 0.31%, while the tech-heavy Nasdaq lost 0.51%.Heading into today, shares of the miner had lost 0.67% over the past month, lagging the Basic Materials sector's gain of 1.28% and the S&P 500's gain of 1.67% in that time.The investment community will be paying close attention to the earnings performance of Southern Copper in its upcoming release. The company is forecasted to report an EPS of $1.02, showcasing a 78.95% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $2.78 billion, indicating a 21.1% increase compared to the same quarter of the previous year.It's also important for investors to be aware of any recent modifications to analyst estimates for Southern Copper. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.46% upward. Southern Copper presently features a Zacks Rank of #3 (Hold).Digging into valuation, Southern Copper currently has a Forward P/E ratio of 19.57. For comparison, its industry has an average Forward P/E of 19.57, which means Southern Copper is trading at no noticeable deviation to the group.It is also worth noting that SCCO currently has a PEG ratio of 1.77. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. By the end of yesterday's trading, the Mining - Non Ferrous industry had an average PEG ratio of 0.85.The Mining - Non Ferrous industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 86, finds itself in the top 35% echelons of all 250+ industries.The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.3% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Southern Copper Corporation (SCCO): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks
Quelle: Zacks