Zacks: Brokerages Anticipate Southern Copper Co. (NYSE:SCCO) Will Announce Quarterly Sales of $2.82 Billion

Equities research analysts forecast that Southern Copper Co. (NYSE:SCCOGet Rating) will announce sales of $2.82 billion for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Southern Copper’s earnings, with the highest sales estimate coming in at $2.85 billion and the lowest estimate coming in at $2.79 billion. Southern Copper posted sales of $2.90 billion in the same quarter last year, which would suggest a negative year over year growth rate of 2.8%. The company is expected to announce its next earnings report on Monday, January 1st.

On average, analysts expect that Southern Copper will report full-year sales of $11.11 billion for the current fiscal year, with estimates ranging from $10.94 billion to $11.29 billion. For the next year, analysts expect that the business will report sales of $11.23 billion, with estimates ranging from $10.79 billion to $11.67 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Southern Copper.

Southern Copper (NYSE:SCCOGet Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The basic materials company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.01. Southern Copper had a return on equity of 42.00% and a net margin of 30.61%. The business had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.68 billion.

SCCO has been the subject of a number of research analyst reports. Morgan Stanley downgraded Southern Copper from an “equal weight” rating to an “underweight” rating and increased their price target for the company from $55.00 to $63.00 in a research report on Wednesday, March 23rd. StockNews.com downgraded Southern Copper from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, May 10th. Finally, Barclays decreased their target price on Southern Copper from $62.00 to $61.00 and set an “equal weight” rating for the company in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Southern Copper has an average rating of “Hold” and an average price target of $61.10.

Shares of SCCO opened at $63.30 on Thursday. The company has a current ratio of 3.34, a quick ratio of 2.75 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $48.94 billion, a price-to-earnings ratio of 14.29, a PEG ratio of 1.87 and a beta of 1.12. The stock has a 50 day moving average of $65.07 and a 200 day moving average of $65.64. Southern Copper has a 12 month low of $53.36 and a 12 month high of $79.32.

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 31st. Shareholders of record on Tuesday, May 17th were given a $1.25 dividend. This is an increase from Southern Copper’s previous quarterly dividend of $1.00. This represents a $5.00 dividend on an annualized basis and a yield of 7.90%. The ex-dividend date was Monday, May 16th. Southern Copper’s dividend payout ratio (DPR) is currently 112.87%.

In other news, Chairman German Larrea Mota Velasco sold 200,000 shares of the firm’s stock in a transaction on Friday, March 11th. The stock was sold at an average price of $74.94, for a total value of $14,988,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.08% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Bank of America Corp DE boosted its holdings in shares of Southern Copper by 57.8% in the first quarter. Bank of America Corp DE now owns 1,038,124 shares of the basic materials company’s stock worth $78,793,000 after acquiring an additional 380,161 shares during the period. Walleye Capital LLC bought a new stake in Southern Copper during the first quarter valued at $1,524,000. Genesee Capital Advisors LLC bought a new stake in Southern Copper during the first quarter valued at $1,018,000. Advisory Services Network LLC boosted its stake in Southern Copper by 5.0% during the first quarter. Advisory Services Network LLC now owns 5,144 shares of the basic materials company’s stock valued at $390,000 after buying an additional 243 shares during the period. Finally, Orion Portfolio Solutions LLC boosted its stake in Southern Copper by 15.5% during the first quarter. Orion Portfolio Solutions LLC now owns 5,050 shares of the basic materials company’s stock valued at $383,000 after buying an additional 678 shares during the period. 6.83% of the stock is owned by hedge funds and other institutional investors.

Southern Copper Company Profile (Get Rating)

Southern Copper Corporation engages in mining, exploring, smelting, and refining copper and other minerals in Peru, Mexico, Argentina, Ecuador, and Chile. 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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