Southern Copper Corp (NYSE:SCCO) – Equities researchers at B. Riley reduced their Q1 2019 earnings per share (EPS) estimates for Southern Copper in a note issued to investors on Wednesday, November 7th. B. Riley analyst L. Pipes now forecasts that the basic materials company will post earnings of $0.66 per share for the quarter, down from their previous estimate of $0.75. B. Riley has a “Neutral” rating and a $49.00 price target on the stock. B. Riley also issued estimates for Southern Copper’s Q4 2019 earnings at $0.66 EPS and FY2019 earnings at $2.65 EPS.

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 the Thomson Reuters’ consensus estimate of $0.50 by ($0.02). The company had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.80 billion. Southern Copper had a net margin of 13.24% and a return on equity of 14.97%.

Several other equities analysts also recently weighed in on the company. Santander downgraded Southern Copper from a “buy” rating to a “hold” rating in a research report on Tuesday, October 16th. Citigroup upgraded Southern Copper from a “sell” rating to a “neutral” rating and set a $43.00 target price on the stock in a research report on Monday, October 8th. Scotiabank set a $40.00 target price on Southern Copper and gave the company a “sell” rating in a research report on Monday, August 6th. Finally, UBS Group upgraded Southern Copper from a “neutral” rating to a “buy” rating and set a $46.00 target price on the stock in a research report on Friday, November 2nd. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $46.13.

NYSE SCCO opened at $37.93 on Friday. The firm has a market cap of $30.71 billion, a P/E ratio of 25.79 and a beta of 0.67. The company has a current ratio of 2.71, a quick ratio of 1.88 and a debt-to-equity ratio of 0.90. Southern Copper has a fifty-two week low of $35.59 and a fifty-two week high of $58.09.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SCCO. Russell Investments Group Ltd. lifted its position in shares of Southern Copper by 434.6% in the second quarter. Russell Investments Group Ltd. now owns 458,248 shares of the basic materials company’s stock valued at $21,091,000 after acquiring an additional 372,532 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Southern Copper by 3.2% in the first quarter. Principal Financial Group Inc. now owns 128,496 shares of the basic materials company’s stock valued at $6,962,000 after acquiring an additional 3,967 shares in the last quarter. Northern Trust Corp lifted its position in shares of Southern Copper by 0.8% in the second quarter. Northern Trust Corp now owns 1,039,201 shares of the basic materials company’s stock valued at $48,707,000 after acquiring an additional 8,354 shares in the last quarter. Royal London Asset Management Ltd. purchased a new position in shares of Southern Copper in the second quarter valued at about $2,652,000. Finally, Altman Advisors Inc. purchased a new position in shares of Southern Copper in the second quarter valued at about $204,000. Institutional investors own 7.97% of the company’s stock.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 21st. Investors of record on Wednesday, November 7th will be given a dividend of $0.40 per share. The ex-dividend date is Tuesday, November 6th. This represents a $1.60 annualized dividend and a yield of 4.22%.

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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Earnings History and Estimates for Southern Copper (NYSE:SCCO)

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