Southern Copper Co. (NYSE:SCCO) Expected to Post Quarterly Sales of $2.82 Billion

Analysts expect that Southern Copper Co. (NYSE:SCCOGet Rating) will announce $2.82 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Southern Copper’s earnings. The highest sales estimate is $2.85 billion and the lowest is $2.79 billion. Southern Copper reported 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 report its next earnings results on Monday, January 1st.

According to Zacks, 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 anticipate that the company will post sales of $11.23 billion, with estimates ranging from $10.79 billion to $11.67 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that cover Southern Copper.

Southern Copper (NYSE:SCCOGet Rating) last released its quarterly earnings data 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. The firm had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.68 billion. Southern Copper had a net margin of 30.61% and a return on equity of 42.00%.

Several brokerages have weighed in on SCCO. Morgan Stanley lowered shares of Southern Copper from an “equal weight” rating to an “underweight” rating and increased their target price for the stock from $55.00 to $63.00 in a research note on Wednesday, March 23rd. StockNews.com lowered shares of Southern Copper from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, May 10th. Finally, Barclays increased their target price on shares of Southern Copper from $58.00 to $62.00 in a research note on Thursday, April 21st. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $61.30.

In other news, Chairman German Larrea Mota Velasco sold 200,000 shares of the firm’s stock in a transaction that occurred on Friday, March 11th. The shares were 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 at this hyperlink. Company insiders own 0.08% of the company’s stock.

A number of large investors have recently modified their holdings of SCCO. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Southern Copper during the fourth quarter worth approximately $25,000. FNY Investment Advisers LLC acquired a new stake in Southern Copper during the first quarter worth approximately $26,000. Loomis Sayles & Co. L P acquired a new stake in Southern Copper during the first quarter worth approximately $29,000. Sawyer & Company Inc acquired a new stake in Southern Copper during the first quarter worth approximately $43,000. Finally, Penserra Capital Management LLC acquired a new stake in Southern Copper during the first quarter worth approximately $46,000. 6.83% of the stock is currently owned by hedge funds and other institutional investors.

Shares of SCCO stock opened at $59.06 on Thursday. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.34 and a quick ratio of 2.30. The firm has a market cap of $45.66 billion, a PE ratio of 13.33, a price-to-earnings-growth ratio of 1.70 and a beta of 1.12. The company has a 50-day moving average of $68.33 and a two-hundred day moving average of $65.47. Southern Copper has a 1-year low of $53.36 and a 1-year high of $79.32.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 31st. Stockholders of record on Tuesday, May 17th will be paid a $1.25 dividend. This is a positive change from Southern Copper’s previous quarterly dividend of $1.00. The ex-dividend date is Monday, May 16th. This represents a $5.00 annualized dividend and a dividend yield of 8.47%. Southern Copper’s dividend payout ratio (DPR) is presently 112.87%.

About Southern Copper (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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