Equities research analysts predict that Southern Copper Corp (NYSE:SCCO) will announce $0.54 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Zero analysts have issued estimates for Southern Copper’s earnings. The lowest EPS estimate is $0.53 and the highest is $0.54. Southern Copper reported earnings of $0.61 per share in the same quarter last year, which suggests a negative year over year growth rate of 11.5%. The business is expected to report its next earnings results on Wednesday, May 1st.

On average, analysts expect that Southern Copper will report full-year earnings of $2.32 per share for the current year, with EPS estimates ranging from $1.88 to $2.61. For the next fiscal year, analysts anticipate that the business will post earnings of $2.44 per share, with EPS estimates ranging from $1.91 to $2.87. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that follow Southern Copper.

SCCO has been the topic of several research analyst reports. Itau BBA Securities raised shares of Southern Copper from a “market perform” rating to an “outperform” rating and set a $48.00 target price on the stock in a research report on Wednesday, January 16th. Goldman Sachs Group initiated coverage on shares of Southern Copper in a research report on Tuesday, February 19th. They set a “buy” rating on the stock. Bank of America initiated coverage on shares of Southern Copper in a research report on Tuesday, January 29th. They set a “buy” rating and a $39.00 target price on the stock. HSBC raised shares of Southern Copper from a “reduce” rating to a “hold” rating and set a $37.00 target price on the stock in a research report on Tuesday, March 19th. Finally, TheStreet raised shares of Southern Copper from a “c+” rating to a “b-” rating in a research report on Monday, March 11th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $41.86.

Several hedge funds have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Southern Copper in the 4th quarter valued at $34,968,000. JPMorgan Chase & Co. lifted its stake in shares of Southern Copper by 215.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 895,330 shares of the basic materials company’s stock valued at $38,625,000 after purchasing an additional 611,501 shares during the period. Morgan Stanley lifted its stake in shares of Southern Copper by 85.1% in the 3rd quarter. Morgan Stanley now owns 934,501 shares of the basic materials company’s stock valued at $40,315,000 after purchasing an additional 429,726 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Southern Copper by 68.9% in the 3rd quarter. Renaissance Technologies LLC now owns 517,456 shares of the basic materials company’s stock valued at $22,323,000 after purchasing an additional 211,100 shares during the period. Finally, Millennium Management LLC lifted its stake in shares of Southern Copper by 45.4% in the 4th quarter. Millennium Management LLC now owns 653,440 shares of the basic materials company’s stock valued at $20,106,000 after purchasing an additional 204,050 shares during the period. 7.22% of the stock is currently owned by institutional investors and hedge funds.

NYSE:SCCO traded down $1.07 during trading hours on Monday, hitting $40.77. 42,087 shares of the company were exchanged, compared to its average volume of 1,103,255. Southern Copper has a 52-week low of $29.01 and a 52-week high of $58.09. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.61 and a quick ratio of 1.77.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Friday, May 3rd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.92%. The ex-dividend date is Thursday, May 2nd.

About Southern Copper

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: Fiduciary

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