As of Thursday close, Southern Copper Corporation’s (NYSE:SCCO) stock was down -$1.88, moving down -2.41 percent to $76.00. The average number of shares traded per day over the past five days has been 954,980 shares. 1 time new highs have been achieved over the past 5 days, with a -$4.21 fall in that time frame. In the last twenty days, the average volume was 902,485, while in the previous 50 days, it was 1,036,482.
Since last month, SCCO stock retreated -4.06%. Shares of the company fell to $75.04 on 09/21/23, the lowest level in the past month. A 52-week high of $87.59 was reached on 07/31/23 after having rallying from a 52-week low of $42.42. Since the beginning of this year, SCCO’s stock price has risen by 25.85% or $15.61, and marked a new high 19 times. However, the stock has declined by -13.23% since its 52-week high.
SCCO stock investors should be aware that Southern Copper Corporation (SCCO) stock had its last reported insider trading activity 39 days ago on Aug 14. Castillo Sanchez Mejorada Enri, the Director of the company, disposed of 2,400 shares for $81.56 on Aug 14. It resulted in a $195,744 divestment by the insider. PALOMINO BONILLA LUIS MIGUEL sold 500 shares at an average price of $87.11 on Jul 31. The insider now owns 5,414 shares following the transaction. On Jun 12, Director PALOMINO BONILLA LUIS MIGUEL sold 500 shares at $70.21 apiece. The transaction was valued at $35,105.
Valuation Metrics
Right now, Southern Copper Corporation (SCCO) has a P/E ratio of about 21.12. The stock’s beta is 1.30. Besides these, the trailing price-to-sales (P/S) ratio of 5.87, the price-to-book (PB) ratio of 7.44, and the price-to-cash flow ratio of 22.34 may also be considered.
The latest dividend of $1.00 per share was paid out, which is 5.26% more than last year’s $0.95. On Thursday July 20 2023, a $0.05 dividend increase was announced.
Financial Health
In the three months ended June 29, Southern Copper Corporation’s quick ratio stood at 3.60, while its current ratio was 4.50, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.79, and the total debt-to-equity ratio was 0.79. On the profitability front, the trailing twelve-month gross margin is 54.60% percent. In the year ended June 29, EBITDA margin amounted to 52.07%, whereas operating margins totaled 43.80%. Based on annual data, SCCO earned $5.4 billion in gross profit and brought in $10.05 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 19.80%. Return on equity (ROE) for the past 12 months was 35.10%.
In Southern Copper Corporation’s quarter-end financial report for June 29, it reported total debt of $6.25 billion. According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. SCCO’s revenue fell -0.27% to $2.79 billion during the quarter, while net income inched up to $2.3 billion. While analysts expected Southern Copper Corporation to report $0.81 quarterly earnings, the actual figure was $0.71 per share, beating the consensus estimate by -12.30%. During the quarter, the company generated $1.11 billion in EBITDA. The liabilities of Southern Copper Corporation were 8.98 billion at the end of its most recent quarter ended June 29, and its total debt was $7.07 billion. The value of shareholders’ equity is $773.11 million.
Technical Picture
This quick technical analysis looks at Southern Copper Corporation’s (SCCO) price momentum. With a historical volatility rate of 24.14%, the RSI 9-day stood at 32.48% on 21 September.
With respect to its five-day moving average, the current Southern Copper Corporation price is down by -5.25% percent or -$4.21. At present, SCCO shares trade -6.66% below its 20-day simple moving average and -1.08% percent below its 100-day simple moving average. However, the stock is currently trading approximately +2.52% above its SMA50 and +22.64% above its SMA200.
Stochastic coefficient K was 9.72% and Stochastic coefficient D was 18.96%, while ATR was 1.93. Given the Stochastic reading of 11.90% for the 14-day period, the RSI (14) reading has been calculated as 38.55%. As of today, the MACD Oscillator reading stands at -1.44, while the 14-day reading stands at -1.71.
Analyst Ratings
Jefferies launched its rating on Southern Copper Corporation (NYSE: SCCO) to a Hold in a note to investors on September 18, 2023. Southern Copper Corporation (SCCO) has been rated Underweight by analysts. According to 6 brokerage firms, SCCO is a sell, and 8 firms recommend it is a Hold. There are 2 analysts who say the stock is underweight. A total of 0 analysts rate Southern Copper Corporation stock as buy, with 1 recommending it as overweight.
With a median target price of $66.00, the current consensus forecast for the stock is $46.00 – $95.00. Based on these forecasts, analysts predict Southern Copper Corporation (SCCO) will achieve an average price target of $68.30.
