Zacks: Brokerages Anticipate Southern Copper Corp (SCCO) to Announce $0.59 Earnings Per Share

Analysts forecast that Southern Copper Corp (NYSE:SCCO) will announce $0.59 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Southern Copper’s earnings. The lowest EPS estimate is $0.46 and the highest is $0.76. Southern Copper posted earnings of $0.52 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 13.5%. The company is expected to issue its next earnings report on Friday, October 19th.

On average, analysts expect that Southern Copper will report full-year earnings of $2.33 per share for the current fiscal year, with EPS estimates ranging from $2.12 to $2.59. For the next fiscal year, analysts expect that the company will post earnings of $3.03 per share, with EPS estimates ranging from $2.70 to $3.38. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for Southern Copper.

Southern Copper (NYSE:SCCO) last posted its earnings results on Wednesday, August 1st. The basic materials company reported $0.53 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by ($0.11). Southern Copper had a return on equity of 15.48% and a net margin of 13.78%.

SCCO has been the subject of several research analyst reports. ValuEngine upgraded Southern Copper from a “hold” rating to a “buy” rating in a research report on Wednesday, June 6th. B. Riley cut their price objective on Southern Copper from $55.00 to $49.00 and set a “neutral” rating for the company in a research report on Wednesday, September 19th. Scotiabank set a $40.00 price objective on Southern Copper and gave the company a “sell” rating in a research report on Monday, August 6th. JPMorgan Chase & Co. upgraded Southern Copper to a “sell” rating and set a $45.00 price objective for the company in a research report on Tuesday, June 5th. Finally, Berenberg Bank reiterated a “sell” rating and issued a $39.00 price objective on shares of Southern Copper in a research report on Saturday, June 2nd. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $46.31.

Shares of SCCO opened at $43.54 on Monday. The company has a quick ratio of 2.15, a current ratio of 3.15 and a debt-to-equity ratio of 0.91. Southern Copper has a 52-week low of $38.34 and a 52-week high of $58.09. The firm has a market capitalization of $33.86 billion, a price-to-earnings ratio of 28.44 and a beta of 0.53.

Several institutional investors have recently made changes to their positions in SCCO. Fisher Asset Management LLC grew its stake in shares of Southern Copper by 27,321.9% during the second quarter. Fisher Asset Management LLC now owns 1,095,229 shares of the basic materials company’s stock worth $51,333,000 after purchasing an additional 1,091,235 shares during the period. Unigestion Holding SA bought a new stake in shares of Southern Copper in the second quarter valued at about $32,870,000. Point72 Asset Management L.P. bought a new stake in shares of Southern Copper in the first quarter valued at about $35,894,000. Oakmont Corp lifted its holdings in shares of Southern Copper by 259.7% in the second quarter. Oakmont Corp now owns 798,450 shares of the basic materials company’s stock valued at $37,423,000 after purchasing an additional 576,450 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in shares of Southern Copper by 19.0% in the second quarter. Acadian Asset Management LLC now owns 3,509,549 shares of the basic materials company’s stock valued at $164,493,000 after purchasing an additional 560,632 shares in the last quarter. 7.49% of the stock is owned by institutional investors and hedge funds.

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.

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