Equities analysts forecast that Southern Copper Corp (NYSE:SCCO) will report $1.85 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Southern Copper’s earnings, with the lowest sales estimate coming in at $1.76 billion and the highest estimate coming in at $1.94 billion. Southern Copper reported sales of $1.86 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 0.5%. The firm is expected to report its next earnings results on Wednesday, January 23rd.

On average, analysts expect that Southern Copper will report full year sales of $7.22 billion for the current year, with estimates ranging from $7.16 billion to $7.34 billion. For the next financial year, analysts expect that the company will post sales of $8.18 billion, with estimates ranging from $7.56 billion to $8.78 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Southern Copper.

Southern Copper (NYSE:SCCO) last released 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). The firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.80 billion. Southern Copper had a return on equity of 14.97% and a net margin of 13.24%.

A number of equities research analysts have recently weighed in on SCCO shares. Bradesco Corretora upgraded Southern Copper from an “underperform” rating to a “hold” rating and dropped their target price for the stock from $45.00 to $42.00 in a research report on Tuesday, November 20th. Citigroup upgraded Southern Copper from a “sell” rating to a “neutral” rating and set a $43.00 price objective for the company in a report on Monday, October 8th. Santander downgraded Southern Copper from a “buy” rating to a “hold” rating in a report on Tuesday, October 16th. HSBC downgraded Southern Copper from a “hold” rating to a “reduce” rating and set a $32.12 price objective for the company. in a report on Sunday. Finally, B. Riley dropped their price objective on Southern Copper from $55.00 to $49.00 and set a “neutral” rating for the company in a report on Wednesday, September 19th. Five analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $43.31.

Shares of SCCO stock traded down $0.89 on Friday, reaching $32.81. 975,649 shares of the stock were exchanged, compared to its average volume of 948,261. The company has a market cap of $25.88 billion, a P/E ratio of 21.88 and a beta of 0.69. Southern Copper has a one year low of $31.17 and a one year 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 also recently announced a quarterly dividend, which was paid on Wednesday, November 21st. Shareholders of record on Wednesday, November 7th were paid a $0.40 dividend. The ex-dividend date was Tuesday, November 6th. This represents a $1.60 dividend on an annualized basis and a yield of 4.88%.

Large investors have recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. boosted its position in shares of Southern Copper by 6.8% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 18,758 shares of the basic materials company’s stock worth $879,000 after buying an additional 1,196 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in shares of Southern Copper by 16.3% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 8,748 shares of the basic materials company’s stock worth $410,000 after buying an additional 1,227 shares during the period. CIBC Asset Management Inc boosted its position in shares of Southern Copper by 4.9% during the second quarter. CIBC Asset Management Inc now owns 33,580 shares of the basic materials company’s stock worth $1,574,000 after buying an additional 1,558 shares during the period. Crossmark Global Holdings Inc. boosted its position in shares of Southern Copper by 22.2% during the third quarter. Crossmark Global Holdings Inc. now owns 10,249 shares of the basic materials company’s stock worth $442,000 after buying an additional 1,861 shares during the period. Finally, FMR LLC boosted its position in shares of Southern Copper by 35.4% during the second quarter. FMR LLC now owns 8,424 shares of the basic materials company’s stock worth $395,000 after buying an additional 2,203 shares during the period. 7.32% 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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Earnings History and Estimates for Southern Copper (NYSE:SCCO)

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